HAIFA : Zim Integrated Shipping Services reported second-quarter net income of $64 million, up from $24 million a year earlier, as higher freight rates and increased volume lifted revenue 9% to $1.78 billion.
The Haifa-based container carrier in a release said it moved 922,000 container units in the three months ended June 30, a 3% increase from 895,000 units in the second quarter of 2025. Average freight revenue reached $1,590 per unit, up 8% year on year from $1,479 per unit.
Diluted earnings per share were $.53, compared with $.19 in the prior-year quarter. Adjusted net income was $77 million, versus $24 million a year earlier, after adjusting for costs related to the pending transaction with Hapag-Lloyd.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 4% year-on-year to $491 million. Operating income slipped to $144 million from $149 million in the 2025 second quarter. Zim generated $386 million in free cash flow during the quarter.
The company attributed the revenue increase principally to higher freight rates and larger volumes. Its second-quarter results were supported by its trans-Pacific exposure, commercial approach and cost structure, Zim said.
“Since assuming my role in July, my focus has been clear: to capitalize fully on current market opportunities while deploying the company’s resources with discipline and efficiency,” Zim President and Chief Executive Chen Lichtenstein said in the release, who joined the company in July. “We remain committed to preserving the agility that allows us to respond quickly to changing market conditions, strengthening our competitiveness, and creating sustainable value.”
For the first six months of 2026, Zim reported revenue of $3.18 billion, down from $3.64 billion in the first half of 2025. Volume declined to 1.788 million units from 1.839 million units, while average freight revenue fell to $1,455 per unit from $1,632 per unit.
First-half operating income totaled $126 million, compared with $613 million a year earlier, and the company recorded a $38 million loss before income tax, versus a $430 million profit before tax in the corresponding 2025 period.
Zim’s net debt, consisting predominantly of lease liabilities less cash, was $2.77 billion at June 30, down from $2.93 billion at the end of the first quarter. Net leverage stood at 1.6 times, compared with 1.7 times three months earlier. The company reported a net cash position – cash less financial debt excluding lease liabilities – of $2.46 billion.
The company reaffirmed full-year 2026 guidance for adjusted EBITDA of $2 billion to $2.4 billion and adjusted EBIT of $700 million to $1.1 billion. It said a dividend to shareholders is expected based on 2026 results.
The proposed Hapag-Lloyd transaction remains subject to closing conditions, including regulatory approvals, ZIM said. The carrier did not hold an earnings conference call because of the pending merger transaction, which has been opposed by several Israeli government agencies over security concerns.
