ZIM Integrated Shipping Services falls on Q1 loss vs year-ago profit

Zim Integrated Shipping Services

22/05/2023 12:53

** U.S.- listed shares of ZIM Integrated Shipping Services
Ltd  ZIM.N  fall 9.8% to $15.8 premarket
    ** Co reports Q1 net loss of 50 cents/share vs profit of
$14.19/share in Q1 2022
    ** Q1 rev was also down 63% year-over-year at $1.37 bln
    ** ZIM says Q1 results reflects significant decline in
freight rates and weak demand
    ** Reaffirms 2023 adj EBITDA and adj EBIT Guidance
    ** Shares up ~2% YTD
    
    
    
 

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com))