ZIM Reports Strong Results for the Second Quarter of 2026, Benefiting from its Leading Transpacific Position, Agile Commercial Approach and Efficient Cost Structure

ZIM Integrated Shipping Services Ltd. (NYSE: ZIM) ("ZIM" or the "Company") announced today its consolidated results for the three and six months ended June 30, 2026.ZIM's strong second-quarter results demonstrated the resilience of its business. ZIM's strategic presence in the Transpacific trade enabled the Company to capitalize on favorable market conditions, which together with ZIM's modern, fuel-efficient and cost-effective fleet and agile commercial strategy, drove improved year-over-year profitability.Second Quarter 2026 HighlightsNet income for the second quarter was $64m (compared to $24m in the second quarter of 2025), or diluted earnings per share of $0.53 (compared to $0.19 in the second quarter of 2025). Adjusted net income for the second quarter was $77m (compared to $24m in the second quarter of 2025) Adjusted EBITDA for the second quarter was $491m, a year-over-year increase of 4%. Revenues for the second quarter were $1.78bn, a year-over-year increase of 9%. Carried volume in the second quarter was 922 thousand TEUs, a year-over-year increase of 3%. Average freight rate per TEU in the second quarter was $1,590, a year-over-year increase of 8%. Free cash flow of $386m generated during the quarter. Net leverage ratio of 1.6x as of June 30, 2026, compared to 1.7x net leverage ratio as of March 31, 2026 and 1.3x net leverage ratio as of December 31, 2025. Net debt, comprised predominantly of lease liabilities minus total cash position, of $2.77bn as of June 30, 2026, compared to $2.93bn as of March 31, 2026, and $2.92bn as of December 31, 2025. Net cash position (total cash position minus financial debt; i.e., excluding lease liabilities) of $2.46bn as of June 30, 2026.Chen Lichtenstein, ZIM President & CEO, stated, "Since assuming my role in July, my focus has been clear: to capitalize fully on current market opportunities while deploying the Company's resources with discipline and efficiency. We remain committed to preserving the agility that allows us to respond quickly to changing market conditions, strengthening our competitiveness, and creating sustainable value."Sami Jubran, Chief Financial Officer, added, "We delivered solid results in the second quarter and expect significantly stronger performance during the remainder of the year, as reflected in our guidance. This anticipated improvement would enable our Board of Directors to consider declaring a dividend to shareholders based on our third-quarter results."Summary of Key Financial and Operational Results Q2-26 Q2-25 H1-26 H1-25 Carried volume (K-TEUs)............................. 922 895 1,788 1,839 Average freight rate ($/TEU)........................ 1,590 1,479 1,455 1,632 Total Revenues ($ in millions)...................... 1,781 1,636 3,177 3,642 Operating income (EBIT) ($ in millions)....... 144 149 126 613 Profit (loss) before income tax ($ in millions) 61 49 (38) 430 Net income (loss) ($ in millions)................... 64 24 (22) 320 Adjusted EBITDA ($ in millions)................... 491 472 804 1,251 Adjusted EBIT ($ in millions)........................ 169 149 164 612 Adjusted net income ($ in millions) ............. 77 24 4 318 Net income margin (%)................................ 4 1 (1) 9 Adjusted EBITDA margin (%)....................... 28 29 25 34 Adjusted EBIT margin (%)............................ 10 9 5 17 Adjusted net income margin (%).................. 4 1 0 9 Diluted earnings per share ($)..................... 0.53 0.19 (0.19) 2.64 Net cash generated from operating activities($ in millions)............................................... 395 441 657 1,296 Free cash flow ($ in millions)....................... 386 426 621 1,213 JUN-30-26 DEC-31-25 Net debt ($ in millions).................................. 2,773 2,925 Financial and Operating Results for the Second Quarter Ended June 30, 2026Total revenues were $1.78 billion for the second quarter of 2026, compared to $1.64 billion for the second quarter of 2025, mainly driven by the increase in freight rates as well as carried volume.ZIM carried 922 thousand TEUs in the second quarter of 2026, compared to 895 thousand TEUs in the second quarter of 2025. The average freight rate per TEU was $1,590 for the second quarter of 2026, compared to $1,479 for the second quarter of 2025.Operating income (EBIT) for the second quarter of 2026 was $144 million, compared to $149 million for the second quarter of 2025.Net income for the second quarter of 2026 was $64 million, compared to $24 million for the second quarter of 2025. Adjusted net income for the second quarter of 2026 was $77 million, compared to $24 million for the second quarter of 2025.Adjusted EBITDA for the second quarter of 2026 was $491 million, compared to $472 million for the second quarter of 2025. Adjusted EBIT for the second quarter of 2026 was $169 million, compared to $149 million for the second quarter of 2025. Adjusted EBITDA and Adjusted EBIT margins for the second quarter of 2026 were 28% and 10%, respectively. This compares to 29% and 9% for the second quarter of 2025, respectively.Net cash generated from operating activities was $395 million for the second quarter of 2026, compared to $441 million for the second quarter of 2025.Financial and Operating Results for the Six Months Ended June 30, 2026Total revenues were $3.18 billion for the first half of 2026, compared to $3.64 billion for the first half of 2025, primarily driven by the decrease in freight rates as well as carried volume.ZIM carried 1,788 thousand TEUs in the first half of 2026, compared to 1,839 thousand TEUs in the first half of 2025. The average freight rate per TEU was $1,455 for the first half of 2026, compared to $1,632 for the first half of 2025.Operating income (EBIT) for the first half of 2026 was $126 million, compared to $613 million for the first half of 2025. The decrease in operating income for the first half of 2026 was primarily driven by the above-mentioned decrease in total revenues.Net loss for the first half of 2026 was $22 million, compared to net income of $320 million for the first half of 2025, mainly driven by the above-mentioned decrease in total revenues, partially offset by the impact of income taxes. Adjusted net income for the first half of 2026 was $4 million, compared to $318 million for the first half of 2025.Adjusted EBITDA for the first half of 2026 was $804 million, compared to $1.25 billion for the first half of 2025. Adjusted EBIT for the first half of 2026 was $164 million, compared to $612 million for the first half of 2025. Adjusted EBITDA and Adjusted EBIT margins for the first half of 2026 were 25% and 5%, respectively. This compares to 34% and 17%, respectively, for the first half of 2025.Net cash generated from operating activities for the first half of 2026 was $657 million, compared to $1.30 billion for the first half of 2025.Liquidity, Cash Flows and Capital AllocationZIM's total cash position (which includes cash and cash equivalents and investments in bank deposits and other investment instruments), was $2.53 billion as of June 30, 2026, compared to $2.54 billion as of March 31, 2026 and $2.80 billion as of December 31, 2025.Capital expenditures totaled $12 million and $43 million for the second quarter of 2026 and for the first half of 2026 respectively, compared to $24 million for the second quarter of 2025 and $102 million for the first half of 2025. Other cash flow items in the first half of 2026 include a dividend payment of $106 million and $781 million of debt service, mostly related to charter vessel and equipment lease liability repayments.Net debt position as of June 30, 2026, was $2.77 billion compared to $2.93 billion as of March 31, 2026, and $2.92 billion as of December 31, 2025.Net cash position (total cash minus financial debt) was $2.46 billion as of June 30, 2026, unchanged from March 31, 2026, compared with $2.72 billion as of December 31, 2025. ZIM's net leverage ratio as of June 30, 2026, was 1.6x, compared to 1.7x net leverage ratio as of March 31, 2026 and 1.3x as of December 31, 2025.Fleet UpdateZIM currently operates 115 containerships with a total capacity of 707 thousand TEUs, as well as 13 car carriers, compared to 123 containerships with total capacity of 767 thousand TEU and 14 car carriers as of our Q2 2025 earnings release (August 20, 2025).In addition, the Company has 9 containerships scheduled for charter expiration during the remainder of 2026, representing an aggregate capacity of approximately 35 thousand TEU. In 2027, 13 containerships are scheduled for charter expiration, representing an aggregate capacity of approximately 28 thousand TEU. While this flexibility allows ZIM to actively manage its operated capacity, the company expects capacity to remain stable in 2026.ZIM has entered into charter agreements for an aggregate of 40 vessels, or approximately 286 thousand TEU of capacity, the vast majority of which is newbuild capacity, including:Four 8,000 TEU newbuild scrubber fitted vessels with charter durations of either 5 or 7.5 years and expected delivery between the second half of 2026 and the first half of 2027 Ten 11,500 TEU newbuild dual-fuel LNG vessels with charter duration of 12 years and expected delivery between 2027 and 2028. ZIM holds options to extend the charter duration or alternatively, to purchase these vessels Two 12,000 TEU newbuild scrubber fitted vessels, scheduled for delivery during 2027, with charter periods of up to five years, with optional extensions included Four 9,000 TEU secondhand vessels (build 2015-2016), with expected delivery between 2027-2028, with charter periods of five years with optional extensions included 20 newbuild vessels, some of which are scrubber fitted, with capacities ranging from 3,000 to 5,000 TEU, scheduled for delivery between 2027 and 2028. Charter periods for these vessels are of either 5 or 7.5 years, some of which also include optional extensions. Volume Breakdown by Geographic Trade Zone (K TEU)* Three months ended June 30 Six months ended June 30 2026 2025 2026 2025 Pacific 426 354 817 738 Cross-Suez 66 76 132 161 Atlantic 118 129 233 270 Intra-Asia 212 199 409 392 Latin America 100 137 197 278 Total 922 895 1,788 1,839 * The table above may contain slight summation differences due to rounding. Use of Non-IFRS Measures in the Company's 2026 GuidanceA reconciliation of the Company's non-IFRS financial measures included in its full-year 2026 guidance to corresponding IFRS measures is not available on a forward-looking basis. In particular, the Company has not reconciled Adjusted EBITDA and Adjusted EBIT because the various reconciling items between such non-IFRS financial measures and the corresponding IFRS measures cannot be determined without unreasonable effort due to the uncertainty regarding, and the potential variability of, the future costs and expenses for which the Company adjusts, the effect of which may be significant, and all of which are difficult to predict and are subject to frequent change.Full-Year 2026 Guidance and Expected Dividend In 2026, the Company expects to generate Adjusted EBITDA between $2.0 billion and $2.4 billion and Adjusted EBIT between $700 million and $1.1 billion.Based on its current full year 2026 guidance, the Company expects to distribute dividends to shareholders on account of 2026 results in accordance with its existing dividend policy.All future dividends are subject to the discretion of the Company's Board of Directors, the restrictions provided by Israeli law and the applicable restrictions set forth in the merger agreement with Hapag-Lloyd.Transaction with Hapag-LloydOn February 16, 2026, ZIM announced that it entered into a merger agreement with Hapag-Lloyd, under which Hapag-Lloyd will acquire ZIM for $35.00 per share in cash. The transaction was unanimously approved by ZIM's Board of Directors and approved by shareholders at a special meeting held on April 30, 2026. The transaction remains subject to satisfaction of customary closing conditions, including approvals by various regulatory authorities among them the State of Israel pursuant to the requirements of the Special State Share (the "Golden Share") and is targeted to close in the fourth quarter of 2026.Until the closing of the transaction, Hapag-Lloyd and ZIM will remain separate independent companies and ZIM will continue to operate in the ordinary course.Conference Call DetailsIn light of the pending transaction with Hapag-Lloyd, ZIM will not host a conference call in connection with its second quarter 2026 results.

ZIM Reports Strong Results for the Second Quarter of 2026, Benefiting from its Leading Transpacific Position, Agile Commercial Approach and Efficient Cost Structure

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