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Wednesday, May 25, 2022

ZIM Integrated Shipping Services Ltd (ZIM) stock plummeted in the pre-market. Here’s why

The stock of ZIM Integrated Shipping Services Ltd (ZIM) remained bearish during the regular session after gaining 4.15% from the previous day’s trading session. The ZIM stock was trading at $88.01 before the closing of the regular trading session. On the last check, ZIM plunged in the pre-market and lost 15.16% to $74.67 per share. The stock price kept moving between $85.62 and $88.19. There is no recent news from the company however ZIM released the financial results for the last quarter and full year of 2021.


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ZIM Integrated Shipping Services Ltd participates in the arrangement of transportation and strategies services. The organization works as an armada and an organization of delivery lines offering freight transportation administrations on all major worldwide shipping lanes. ZIM has a market capitalization of $10.44 billion. The firm has its headquarters in Liverpool, United Kingdom (UK).

ZIM News

On 7 March 2022, the company declared the release of ZIM Ecommerce Baltimore Express (ZXB). ZXB is a new and quick online business service. The assistance will begin with a fortnightly recurrence and move toward week by week inside a couple of months. Precise timetable and vessels line up will be distributed in the preceding days. ZXB will offer clients a wide scope of benefits including the quickest travel time to Baltimore. The CEO of ZIM commented that this new line is one more structure block in their ZIM eCommerce express lines.

Financials

The organization also reported the financial results for the last quarter and full year of 2021. The highlights of the results are

  • The revenue for Q4 for FY21 was reported to be $3.4 billion versus $1.3 billion in the same period of the previous year. Also, the revenue of FY21 increased to $10.7 billion compared to $3.9 billion in FY20.
  • Moreover, the profit for Q4 of FY21 expanded to $2.1 billion against $477.4 million in Q4 of FY20. In FY21 the profit of ZIM was reported to be $6 billion versus $865 million in the previous year.
  • Further, the net income of the firm in Q4 of FY21 was $1.7 billion compared to $366.3 million in Q4 of FY20. Also, the total income for FY21 grew to $4.6 billion against $524.1 million in FY20.
  • Besides, the firm had an EPS of $14.17 and $39.02 in Q4 and FY21, respectively.

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