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Share Name | Share Symbol | Market | Type |
---|---|---|---|
ZIM Integrated Shipping Services Ltd | NYSE:ZIM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.425 | -2.23% | 18.615 | 19.35 | 17.58 | 19.13 | 6,468,604 | 19:46:32 |
|
ZIM INTEGRATED SHIPPING SERVICES LTD.
|
|
|
|
|
|
By:
|
/s/ Noam Nativ
|
|
|
Noam Nativ
|
|
|
EVP General Counsel and Corporate Secretary
|
EXHIBIT NO.
|
|
DESCRIPTION
|
|
||
•
|
Net loss for the second quarter was $213 million (compared to net income of $1,336 million in the second quarter of 2022), or a diluted loss per share of $1.792 (compared to diluted earnings per
share of $11.07 in the second quarter of 2022). Net loss for the quarter was negatively impacted by a non-cash after tax item of $51 million related to the redelivery of certain vessels.
|
•
|
Adjusted EBITDA for the second quarter was $275 million, a year-over-year decrease of 87%
|
•
|
Operating loss (EBIT) for the second quarter was $168 million, compared to operating income of $1,764 million in the second quarter of 2022
|
•
|
Adjusted EBIT loss for the second quarter was $147 million, compared to Adjusted EBIT of $1,764 million in the second quarter of 2022
|
•
|
Revenues for the second quarter were $1,310 million, a year-over-year decrease of 62%
|
•
|
Carried volume in the second quarter was 860 thousand TEUs, a slight year-over-year increase
|
•
|
Average freight rate per TEU in the second quarter was $1,193, a year-over-year decrease of 67%
|
•
|
Net leverage ratio1 of 0.5x at June 30, 2023, compared to 0.0x as of December 31, 2022; net debt of $1,633 million, compared to net cash of $279 million as of December 31, 2022
|
•
|
Full year 2023 guidance: the Company expects to generate Adjusted EBITDA of $1.2 billion to $1.6 billion and Adjusted EBIT loss of $500 to $100 million3
|
Q2.23
|
Q2.22
|
1H.23
|
1H.22
|
|||||||||||||
Carried volume (K-TEUs)
|
860
|
856
|
1,629
|
1,715
|
||||||||||||
Average freight rate ($/TEU)
|
1,193
|
3,596
|
1,286
|
3,722
|
||||||||||||
Total Revenues ($ in millions)
|
1,310
|
3,429
|
2,684
|
7,145
|
||||||||||||
Operating income (loss) (EBIT) ($ in millions)
|
(168
|
)
|
1,764
|
(182
|
)
|
4,007
|
||||||||||
Profit (loss) before income tax ($ in millions)
|
(272
|
)
|
1,736
|
(337
|
)
|
3,955
|
||||||||||
Net income (loss) ($ in millions)
|
(213
|
)
|
1,336
|
(271
|
)
|
3,047
|
||||||||||
Adjusted EBITDA1 ($ in millions)
|
275
|
2,101
|
648
|
4,634
|
||||||||||||
Adjusted EBIT1 ($ in millions)
|
(147
|
)
|
1,764
|
(160
|
)
|
4,006
|
||||||||||
Adjusted EBITDA margin (%)
|
21
|
61
|
24
|
65
|
||||||||||||
Adjusted EBIT margin (%)
|
(11
|
)
|
51
|
(6
|
)
|
56
|
||||||||||
Diluted earnings (loss) per share ($)
|
(1.79
|
)
|
11.07
|
(2.29
|
)
|
25.26
|
||||||||||
Net cash generated from operating activities ($ in millions)
|
347
|
1,710
|
520
|
3,370
|
||||||||||||
Free cash flow1 ($ in millions)
|
321
|
1,639
|
463
|
3,122
|
||||||||||||
JUN.23
|
DEC.22
|
|||||||||||||||
Net debt (Net cash)1 ($ in millions)
|
1,633
|
(279
|
)
|
June 30
|
December 31
|
|||||||||||
2023
|
2022
|
2022
|
||||||||||
(Unaudited)
|
(Unaudited)
|
(Audited)
|
||||||||||
Assets
|
||||||||||||
Vessels
|
5,005.4
|
4,405.3
|
4,409.9
|
|||||||||
Containers and handling equipment
|
1,209.8
|
1,281.4
|
1,242.8
|
|||||||||
Other tangible assets
|
124.3
|
77.7
|
98.5
|
|||||||||
Intangible assets
|
98.1
|
79.4
|
92.9
|
|||||||||
Investments in associates
|
29.3
|
17.8
|
22.0
|
|||||||||
Other investments
|
1,354.2
|
651.0
|
1,373.2
|
|||||||||
Other receivables
|
111.6
|
109.5
|
112.1
|
|||||||||
Deferred tax assets
|
2.5
|
2.3
|
2.3
|
|||||||||
Total non-current assets
|
7,935.2
|
6,624.4
|
7,353.7
|
|||||||||
Inventories
|
174.1
|
216.2
|
190.7
|
|||||||||
Trade and other receivables
|
671.0
|
1,346.2
|
825.7
|
|||||||||
Other investments
|
863.0
|
2,358.9
|
2,233.1
|
|||||||||
Cash and cash equivalents
|
1,040.3
|
946.8
|
1,022.1
|
|||||||||
Total current assets
|
2,748.4
|
4,868.1
|
4,271.6
|
|||||||||
Total assets
|
10,683.6
|
11,492.5
|
11,625.3
|
|||||||||
Equity
|
||||||||||||
Share capital and reserves
|
1,994.8
|
2,010.6
|
1,987.7
|
|||||||||
Retained earnings
|
2,858.3
|
3,231.4
|
3,901.9
|
|||||||||
Equity attributable to owners of the Company
|
4,853.1
|
5,242.0
|
5,889.6
|
|||||||||
Non-controlling interests
|
2.0
|
6.2
|
6.3
|
|||||||||
Total equity
|
4,855.1
|
5,248.2
|
5,895.9
|
|||||||||
Liabilities
|
||||||||||||
Lease liabilities
|
3,230.4
|
2,929.0
|
2,778.7
|
|||||||||
Loans and other liabilities
|
83.0
|
164.8
|
91.9
|
|||||||||
Employee benefits
|
42.4
|
50.0
|
45.2
|
|||||||||
Deferred tax liabilities
|
79.0
|
133.8
|
151.4
|
|||||||||
Total non-current liabilities
|
3,434.8
|
3,277.6
|
3,067.2
|
|||||||||
Trade and other payables
|
561.8
|
901.3
|
896.2
|
|||||||||
Provisions
|
53.4
|
30.8
|
50.2
|
|||||||||
Contract liabilities
|
208.4
|
577.5
|
238.9
|
|||||||||
Lease liabilities
|
1,522.1
|
1,377.2
|
1,380.8
|
|||||||||
Loans and other liabilities
|
48.0
|
79.9
|
96.1
|
|||||||||
Total current liabilities
|
2,393.7
|
2,966.7
|
2,662.2
|
|||||||||
Total liabilities
|
5,828.5
|
6,244.3
|
5,729.4
|
|||||||||
Total equity and liabilities
|
10,683.6
|
11,492.5
|
11,625.3
|
Six Months Ended
June 30 |
Three Months Ended
June 30 |
Year Ended
December 31 |
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
||||||||||||||||
Income from voyages and related services
|
2,683.9
|
7,145.2
|
1,309.6
|
3,428.8
|
12,561.6
|
|||||||||||||||
Cost of voyages and related services
|
||||||||||||||||||||
Operating expenses and cost of services
|
(1,913.6
|
)
|
(2,380.6
|
)
|
(973.9
|
)
|
(1,262.3
|
)
|
(4,764.5
|
)
|
||||||||||
Depreciation
|
(795.4
|
)
|
(616.0
|
)
|
(414.9
|
)
|
(331.6
|
)
|
(1,370.3
|
)
|
||||||||||
Gross profit (loss)
|
(25.1
|
)
|
4,148.6
|
(79.2
|
)
|
1,834.9
|
6,426.8
|
|||||||||||||
Other operating income
|
1.9
|
19.3
|
(8.2
|
)
|
14.7
|
48.9
|
||||||||||||||
Other operating expenses
|
(10.1
|
)
|
(0.2
|
)
|
(6.5
|
)
|
(0.1
|
)
|
(0.9
|
)
|
||||||||||
General and administrative expenses
|
(145.5
|
)
|
(162.0
|
)
|
(71.4
|
)
|
(84.9
|
)
|
(338.3
|
)
|
||||||||||
Share of profit (loss) of associates
|
(2.9
|
)
|
1.1
|
(2.5
|
)
|
(0.3
|
)
|
(0.7
|
)
|
|||||||||||
Results from operating activities
|
(181.7
|
)
|
4,006.8
|
(167.8
|
)
|
1,764.3
|
6,135.8
|
|||||||||||||
Finance income
|
82.1
|
47.4
|
37.7
|
26.0
|
130.9
|
|||||||||||||||
Finance expenses
|
(237.2
|
)
|
(99.2
|
)
|
(142.0
|
)
|
(53.9
|
)
|
(239.4
|
)
|
||||||||||
Net finance expenses
|
(155.1
|
)
|
(51.8
|
)
|
(104.3
|
)
|
(27.9
|
)
|
(108.5
|
)
|
||||||||||
Profit (loss) before income taxes
|
(336.8
|
)
|
3,955.0
|
(272.1
|
)
|
1,736.4
|
6,027.3
|
|||||||||||||
Income taxes
|
66.0
|
(908.2
|
)
|
59.4
|
(400.6
|
)
|
(1,398.3
|
)
|
||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||
Attributable to:
|
||||||||||||||||||||
Owners of the Company
|
(274.6
|
)
|
3,041.9
|
(215.1
|
)
|
1,333.1
|
4,619.4
|
|||||||||||||
Non-controlling interests
|
3.8
|
4.9
|
2.4
|
2.7
|
9.6
|
|||||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||
Earnings (loss) per share (US$)
|
||||||||||||||||||||
Basic earnings (loss) per 1 ordinary share
|
(2.29
|
)
|
25.36
|
(1.79
|
)
|
11.11
|
38.49
|
|||||||||||||
Diluted earnings (loss) per 1 ordinary share
|
(2.29
|
)
|
25.26
|
(1.79
|
)
|
11.07
|
38.35
|
|||||||||||||
Weighted average number of shares for earnings (loss) per share calculation:
|
||||||||||||||||||||
Basic
|
120,182,399
|
119,950,718
|
120,195,365
|
119,990,308
|
120,012,375
|
|||||||||||||||
Diluted
|
120,182,399
|
120,441,961
|
120,195,365
|
120,442,213
|
120,444,889
|
Six Months Ended
June 30 |
Three Months Ended
June 30 |
Year Ended
December 31 |
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(audited)
|
||||||||||||||||
Cash flows from operating activities
|
||||||||||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||
Adjustments for:
|
||||||||||||||||||||
Depreciation and amortization
|
808.7
|
627.5
|
421.5
|
337.3
|
1,396.3
|
|||||||||||||||
Net finance expenses
|
155.1
|
51.8
|
104.3
|
27.9
|
108.5
|
|||||||||||||||
Share of profits and change in fair value of investees
|
2.2
|
(3.7
|
)
|
1.8
|
(2.2
|
)
|
(2.1
|
)
|
||||||||||||
Capital loss (gain), net
|
7.4
|
(15.8
|
)
|
17.2
|
(11.8
|
)
|
(42.7
|
)
|
||||||||||||
Income taxes
|
(66.0
|
)
|
908.2
|
(59.4
|
)
|
400.6
|
1,398.3
|
|||||||||||||
Other non-cash items
|
9.7
|
10.0
|
3.4
|
7.5
|
39.7
|
|||||||||||||||
646.3
|
4,624.8
|
276.1
|
2,095.1
|
7,527.0
|
||||||||||||||||
Change in inventories
|
16.6
|
(97.2
|
)
|
15.0
|
(42.4
|
)
|
(71.7
|
)
|
||||||||||||
Change in trade and other receivables
|
176.9
|
(61.8
|
)
|
33.7
|
34.5
|
496.6
|
||||||||||||||
Change in trade and other payables including contract liabilities
|
(95.9
|
)
|
30.9
|
(4.2
|
)
|
(5.1
|
)
|
(325.7
|
)
|
|||||||||||
Change in provisions and employee benefits
|
2.9
|
(2.2
|
)
|
1.5
|
(0.1
|
)
|
15.9
|
|||||||||||||
100.5
|
(130.3
|
)
|
46.0
|
(13.1
|
)
|
115.1
|
||||||||||||||
Dividends received
|
1.5
|
1.4
|
0.9
|
|||||||||||||||||
Interest received
|
88.0
|
7.4
|
38.5
|
4.2
|
53.2
|
|||||||||||||||
Income taxes paid
|
(316.1
|
)
|
(1,132.0
|
)
|
(15.4
|
)
|
(376.3
|
)
|
(1,586.1
|
)
|
||||||||||
Net cash generated from operating activities
|
520.2
|
3,369.9
|
346.6
|
1,709.9
|
6,110.1
|
|||||||||||||||
Cash flows from investing activities
|
||||||||||||||||||||
Proceeds from sale of tangible assets, intangible assets, and interest in investees
|
17.7
|
16.9
|
5.5
|
11.6
|
48.1
|
|||||||||||||||
Acquisition and capitalized expenditures of tangible assets, intangible assets and interest in investees
|
(61.5
|
)
|
(263.1
|
)
|
(25.6
|
)
|
(80.6
|
)
|
(345.5
|
)
|
||||||||||
Acquisition of investment instruments, net
|
(583.4
|
)
|
(515.9
|
)
|
(422.3
|
)
|
(333.0
|
)
|
(1,433.1
|
)
|
||||||||||
Loans granted to investees
|
(1.7
|
)
|
||||||||||||||||||
Change in other receivables
|
(14.0
|
)
|
(2.6
|
)
|
(5.8
|
)
|
(2.3
|
)
|
(20.2
|
)
|
||||||||||
Change in other investments (mainly deposits), net
|
1,982.7
|
(189.1
|
)
|
581.8
|
(288.9
|
)
|
105.7
|
|||||||||||||
Net cash generated from (used in) investing activities
|
1,339.8
|
(953.8
|
)
|
133.6
|
(693.2
|
)
|
(1,645.0
|
)
|
||||||||||||
Cash flows from financing activities
|
||||||||||||||||||||
Receipt of long-term loans and other long-term liabilities
|
59.2
|
59.2
|
||||||||||||||||||
Repayment of lease liabilities and borrowings
|
(861.4
|
)
|
(532.5
|
)
|
(466.4
|
)
|
(323.6
|
)
|
(1,449.4
|
)
|
||||||||||
Change in short term loans
|
(21.0
|
)
|
(53.5
|
)
|
(33.5
|
)
|
(53.5
|
)
|
||||||||||||
Dividend paid to non-controlling interests
|
(7.5
|
)
|
(4.6
|
)
|
(0.6
|
)
|
(0.1
|
)
|
(8.4
|
)
|
||||||||||
Dividend paid to owners of the Company
|
(769.2
|
)
|
(2,378.6
|
)
|
(769.2
|
)
|
(2,378.6
|
)
|
(3,303.3
|
)
|
||||||||||
Interest paid
|
(182.7
|
)
|
(94.7
|
)
|
(95.9
|
)
|
(54.2
|
)
|
(221.0
|
)
|
||||||||||
Net cash used in financing activities
|
(1,841.8
|
)
|
(3,004.7
|
)
|
(1,332.1
|
)
|
(2,790.0
|
)
|
(4,976.4
|
)
|
||||||||||
Net change in cash and cash equivalents
|
18.2
|
(588.6
|
)
|
(851.9
|
)
|
(1,773.3
|
)
|
(511.3
|
)
|
|||||||||||
Cash and cash equivalents at beginning of the period
|
1,022.1
|
1,543.3
|
1,892.6
|
2,727.2
|
1,543.3
|
|||||||||||||||
Effect of exchange rate fluctuation on cash held
|
0.0
|
(7.9
|
)
|
(0.4
|
)
|
(7.1
|
)
|
(9.9
|
)
|
|||||||||||
Cash and cash equivalents at the end of the period
|
1,040.3
|
946.8
|
1,040.3
|
946.8
|
1,022.1
|
Six months ended
June 30 |
Three months ended
June 30 |
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Net income (loss)
|
(271
|
)
|
3,047
|
(213
|
)
|
1,336
|
||||||||||
Financial expenses, net
|
155
|
52
|
104
|
28
|
||||||||||||
Income taxes
|
(66
|
)
|
908
|
(59
|
)
|
400
|
||||||||||
Operating income (EBIT)
|
(182
|
)
|
4,007
|
(168
|
)
|
1,764
|
||||||||||
Non-cash charter hire expenses
|
1
|
0
|
0
|
0
|
||||||||||||
Capital loss (gain), beyond the ordinary course of business
|
21
|
(1
|
)
|
21
|
0
|
|||||||||||
Adjusted EBIT
|
(160
|
)
|
4,006
|
(147
|
)
|
1,764
|
||||||||||
Adjusted EBIT margin
|
(6
|
)%
|
56
|
%
|
(11
|
)%
|
51
|
%
|
Six months ended
June 30 |
Three months ended
June 30 |
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Net income (loss)
|
(271
|
)
|
3,047
|
(213
|
)
|
1,336
|
||||||||||
Financial expenses, net
|
155
|
52
|
104
|
28
|
||||||||||||
Income taxes
|
(66
|
)
|
908
|
(59
|
)
|
400
|
||||||||||
Depreciation and amortization
|
809
|
627
|
422
|
337
|
||||||||||||
EBITDA
|
627
|
4,634
|
254
|
2,101
|
||||||||||||
Capital loss, beyond the ordinary course of business
|
21
|
0
|
21
|
0
|
||||||||||||
Adjusted EBITDA
|
648
|
4,634
|
275
|
2,101
|
||||||||||||
Adjusted EBITDA margin
|
24
|
%
|
65
|
%
|
21
|
%
|
61
|
%
|
Six months ended
June 30 |
Three months ended
June 30 |
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Net cash generated from operating activities
|
520
|
3,370
|
347
|
1,710
|
||||||||||||
Capital expenditures, net
|
(57
|
)
|
(248
|
)
|
(26
|
)
|
(71
|
)
|
||||||||
Free cash flow
|
463
|
3,122
|
321
|
1,639
|
Page
|
FINANCIAL STATEMENTS:
|
|
3
|
|
4
|
|
5
|
|
6-7
|
|
8-9
|
|
10-16
|
June 30
|
December 31
|
|||||||||||||||
2023
|
2022
|
2022
|
||||||||||||||
Note
|
US $ in millions
|
|||||||||||||||
Assets
|
||||||||||||||||
Vessels
|
6
|
5,005.4
|
4,405.3
|
4,409.9
|
||||||||||||
Containers and handling equipment
|
6
|
1,209.8
|
1,281.4
|
1,242.8
|
||||||||||||
Other tangible assets
|
6
|
124.3
|
77.7
|
98.5
|
||||||||||||
Intangible assets
|
98.1
|
79.4
|
92.9
|
|||||||||||||
Investments in associates
|
29.3
|
17.8
|
22.0
|
|||||||||||||
Other investments
|
1,354.2
|
651.0
|
1,373.2
|
|||||||||||||
Other receivables
|
111.6
|
109.5
|
112.1
|
|||||||||||||
Deferred tax assets
|
2.5
|
2.3
|
2.3
|
|||||||||||||
Total non-current assets
|
7,935.2
|
6,624.4
|
7,353.7
|
|||||||||||||
Inventories
|
174.1
|
216.2
|
190.7
|
|||||||||||||
Trade and other receivables
|
671.0
|
1,346.2
|
825.7
|
|||||||||||||
Other investments
|
863.0
|
2,358.9
|
2,233.1
|
|||||||||||||
Cash and cash equivalents
|
1,040.3
|
946.8
|
1,022.1
|
|||||||||||||
Total current assets
|
2,748.4
|
4,868.1
|
4,271.6
|
|||||||||||||
Total assets
|
10,683.6
|
11,492.5
|
11,625.3
|
|||||||||||||
Equity
|
||||||||||||||||
Share capital and reserves
|
5
|
1,994.8
|
2,010.6
|
1,987.7
|
||||||||||||
Retained earnings
|
2,858.3
|
3,231.4
|
3,901.9
|
|||||||||||||
Equity attributable to owners of the Company
|
4,853.1
|
5,242.0
|
5,889.6
|
|||||||||||||
Non-controlling interests
|
2.0
|
6.2
|
6.3
|
|||||||||||||
Total equity
|
4,855.1
|
5,248.2
|
5,895.9
|
|||||||||||||
Liabilities
|
||||||||||||||||
Lease liabilities
|
3,230.4
|
2,929.0
|
2,778.7
|
|||||||||||||
Loans and other liabilities
|
83.0
|
164.8
|
91.9
|
|||||||||||||
Employee benefits
|
42.4
|
50.0
|
45.2
|
|||||||||||||
Deferred tax liabilities
|
79.0
|
133.8
|
151.4
|
|||||||||||||
Total non-current liabilities
|
3,434.8
|
3,277.6
|
3,067.2
|
|||||||||||||
Trade and other payables
|
4(b)
|
|
561.8
|
901.3
|
896.2
|
|||||||||||
Provisions
|
53.4
|
30.8
|
50.2
|
|||||||||||||
Contract liabilities
|
208.4
|
577.5
|
238.9
|
|||||||||||||
Lease liabilities
|
1,522.1
|
1,377.2
|
1,380.8
|
|||||||||||||
Loans and other liabilities
|
48.0
|
79.9
|
96.1
|
|||||||||||||
Total current liabilities
|
2,393.7
|
2,966.7
|
2,662.2
|
|||||||||||||
Total liabilities
|
5,828.5
|
6,244.3
|
5,729.4
|
|||||||||||||
Total equity and liabilities
|
10,683.6
|
11,492.5
|
11,625.3
|
/s/ Yair Seroussi
|
/s/ Eli Glickman
|
/s/ Xavier Destriau
|
||
Yair Seroussi
|
Eli Glickman
|
Xavier Destriau
|
||
Chairman of the Board of Directors
|
President & Chief Executive Officer
|
Chief Financial Officer
|
Six months ended
June 30
|
Three months ended
June 30
|
Year ended December 31
|
||||||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||||||
Note
|
US $ in millions
|
|||||||||||||||||||||||
Income from voyages and related services
|
2,683.9
|
7,145.2
|
1,309.6
|
3,428.8
|
12,561.6
|
|||||||||||||||||||
Cost of voyages and related services
|
||||||||||||||||||||||||
Operating expenses and cost of services
|
8
|
(1,913.6
|
)
|
(2,380.6
|
)
|
(973.9
|
)
|
(1,262.3
|
)
|
(4,764.5
|
)
|
|||||||||||||
Depreciation
|
(795.4
|
)
|
(616.0
|
)
|
(414.9
|
)
|
(331.6
|
)
|
(1,370.3
|
)
|
||||||||||||||
Gross profit (loss)
|
(25.1
|
)
|
4,148.6
|
(79.2
|
)
|
1,834.9
|
6,426.8
|
|||||||||||||||||
Other operating income
|
1.9
|
19.3
|
(8.2
|
)
|
14.7
|
48.9
|
||||||||||||||||||
Other operating expenses
|
(10.1
|
)
|
(0.2
|
)
|
(6.5
|
)
|
(0.1
|
)
|
(0.9
|
)
|
||||||||||||||
General and administrative expenses
|
(145.5
|
)
|
(162.0
|
)
|
(71.4
|
)
|
(84.9
|
)
|
(338.3
|
)
|
||||||||||||||
Share of profit (loss) of associates
|
(2.9
|
)
|
1.1
|
(2.5
|
)
|
(0.3
|
)
|
(0.7
|
)
|
|||||||||||||||
Results from operating activities
|
(181.7
|
)
|
4,006.8
|
(167.8
|
)
|
1,764.3
|
6,135.8
|
|||||||||||||||||
Finance income
|
82.1
|
47.4
|
37.7
|
26.0
|
130.9
|
|||||||||||||||||||
Finance expenses
|
(237.2
|
)
|
(99.2
|
)
|
(142.0
|
)
|
(53.9
|
)
|
(239.4
|
)
|
||||||||||||||
Net finance expenses
|
(155.1
|
)
|
(51.8
|
)
|
(104.3
|
)
|
(27.9
|
)
|
(108.5
|
)
|
||||||||||||||
Profit (loss) before income taxes
|
(336.8
|
)
|
3,955.0
|
(272.1
|
)
|
1,736.4
|
6,027.3
|
|||||||||||||||||
Income taxes
|
66.0
|
(908.2
|
)
|
59.4
|
(400.6
|
)
|
(1,398.3
|
)
|
||||||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||||||
Attributable to:
|
||||||||||||||||||||||||
Owners of the Company
|
(274.6
|
)
|
3,041.9
|
(215.1
|
)
|
1,333.1
|
4,619.4
|
|||||||||||||||||
Non-controlling interests
|
3.8
|
4.9
|
2.4
|
2.7
|
9.6
|
|||||||||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||||||
Earnings (loss) per share (US$)
|
||||||||||||||||||||||||
Basic earnings (loss) per 1 ordinary share
|
10
|
(2.29
|
)
|
25.36
|
(1.79
|
)
|
11.11
|
38.49
|
||||||||||||||||
Diluted earnings (loss) per 1 ordinary share
|
10
|
(2.29
|
)
|
25.26
|
(1.79
|
)
|
11.07
|
38.35
|
Six months ended
June 30
|
Three months ended
June 30
|
Year ended December 31
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
US $ in millions
|
||||||||||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||
Other components of comprehensive income
|
||||||||||||||||||||
Items of other comprehensive income that were or will be reclassified to profit and loss
|
||||||||||||||||||||
Foreign currency translation differences
|
||||||||||||||||||||
for foreign operations
|
(5.7
|
)
|
(12.4
|
)
|
(6.6
|
)
|
(7.4
|
)
|
(18.0
|
)
|
||||||||||
Net change in fair value of investments in debt instruments at fair value through other comprehensive income, net of tax
|
(6.1
|
)
|
(12.1
|
)
|
(14.1
|
)
|
(4.8
|
)
|
(34.6
|
)
|
||||||||||
Net change in fair value of investments in debt instruments at fair value through other comprehensive income, reclassified to profit and loss
|
5.6
|
2.4
|
2.6
|
|||||||||||||||||
Items of other comprehensive income that would never be reclassified to profit and loss
|
||||||||||||||||||||
Net change in fair value of investments in equity instruments at fair value through other comprehensive income, net of tax
|
1.6
|
(1.5
|
)
|
0.2
|
(1.7
|
)
|
(1.9
|
)
|
||||||||||||
Defined benefit pension plans actuarial gains, net of tax
|
0.2
|
4.4
|
(0.5
|
)
|
0.5
|
8.5
|
||||||||||||||
Other comprehensive income for the period, net of tax
|
(4.4
|
)
|
(21.6
|
)
|
(18.6
|
)
|
(13.4
|
)
|
(43.4
|
)
|
||||||||||
Total comprehensive income for the period
|
(275.2
|
)
|
3,025.2
|
(231.3
|
)
|
1,322.4
|
4,585.6
|
|||||||||||||
Attributable to:
|
||||||||||||||||||||
Owners of the Company
|
(278.4
|
)
|
3,021.9
|
(232.8
|
)
|
1,320.4
|
4,578.2
|
|||||||||||||
Non-controlling interests
|
3.2
|
3.3
|
1.5
|
2.0
|
7.4
|
|||||||||||||||
Total comprehensive income for the period
|
(275.2
|
)
|
3,025.2
|
(231.3
|
)
|
1,322.4
|
4,585.6
|
Attribute to the owners of the Company
|
||||||||||||||||||||||||||||
Share
capital
|
General
reserves (*)
|
Translation
reserve
|
Retained
earnings
|
Total
|
Non-controlling
interests
|
Total
equity
|
||||||||||||||||||||||
US $ in millions
|
||||||||||||||||||||||||||||
For the six months period ended June 30, 2023
|
||||||||||||||||||||||||||||
Balance at December 31, 2022
|
925.9
|
1,097.3
|
(35.5
|
)
|
3,901.9
|
5,889.6
|
6.3
|
5,895.9
|
||||||||||||||||||||
Loss for the period
|
(274.6
|
)
|
(274.6
|
)
|
3.8
|
(270.8
|
)
|
|||||||||||||||||||||
Other comprehensive income for the period, net of tax
|
1.1
|
(5.1
|
)
|
0.2
|
(3.8
|
)
|
(0.6
|
)
|
(4.4
|
)
|
||||||||||||||||||
Share-based compensation
|
11.1
|
11.1
|
11.1
|
|||||||||||||||||||||||||
Exercise of options
|
0.4
|
(0.4
|
)
|
|||||||||||||||||||||||||
Dividend to owners of the Company
|
(769.2
|
)
|
(769.2
|
)
|
(769.2
|
)
|
||||||||||||||||||||||
Dividend to non-controlling interests in subsidiaries
|
(7.5
|
)
|
(7.5
|
)
|
||||||||||||||||||||||||
Balance at June 30, 2023
|
926.3
|
1,109.1
|
(40.6
|
)
|
2,858.3
|
4,853.1
|
2.0
|
4,855.1
|
||||||||||||||||||||
For the three months period ended June 30, 2023
|
||||||||||||||||||||||||||||
Balance at March 31, 2023
|
926.1
|
1,116.6
|
(34.8
|
)
|
3,073.8
|
5,081.7
|
1.1
|
5,082.8
|
||||||||||||||||||||
Loss for the period
|
(215.1
|
)
|
(215.1
|
)
|
2.4
|
(212.7
|
)
|
|||||||||||||||||||||
Other comprehensive income for the period, net of tax
|
(11.5
|
)
|
(5.8
|
)
|
(0.4
|
)
|
(17.7
|
)
|
(0.9
|
)
|
(18.6
|
)
|
||||||||||||||||
Share-based compensation
|
4.2
|
4.2
|
4.2
|
|||||||||||||||||||||||||
Exercise of options
|
0.2
|
(0.2
|
)
|
|||||||||||||||||||||||||
Dividend to non-controlling interests in subsidiaries
|
(0.6
|
)
|
(0.6
|
)
|
||||||||||||||||||||||||
Balance at June 30, 2023
|
926.3
|
1,109.1
|
(40.6
|
)
|
2,858.3
|
4,853.1
|
2.0
|
4,855.1
|
Attribute to the owners of the Company
|
||||||||||||||||||||||||||||
Share
capital
|
General
reserves (*)
|
Translation
reserve
|
Retained
earnings
|
Total
|
Non-controlling
interests
|
Total
equity
|
||||||||||||||||||||||
US $ in millions
|
||||||||||||||||||||||||||||
For the six months period ended June 30, 2022
|
||||||||||||||||||||||||||||
Balance at December 31, 2021
|
923.2
|
1,107.9
|
(19.7
|
)
|
2,580.6
|
4,592.0
|
7.5
|
4,599.5
|
||||||||||||||||||||
Initial application of an amendment to IAS 37 (*)
|
(3.3
|
)
|
(3.3
|
)
|
(3.3
|
)
|
||||||||||||||||||||||
Balance at January 1, 2022
|
923.2
|
1,107.9
|
(19.7
|
)
|
2,577.3
|
4,588.7
|
7.5
|
4,596.2
|
||||||||||||||||||||
Profit for the period
|
3,041.9
|
3,041.9
|
4.9
|
3,046.8
|
||||||||||||||||||||||||
Other comprehensive income for the period, net of tax
|
(10.8
|
)
|
(9.2
|
)
|
(20.0
|
)
|
(1.6
|
)
|
(21.6
|
)
|
||||||||||||||||||
Share-based compensation
|
10.0
|
10.0
|
10.0
|
|||||||||||||||||||||||||
Exercise of options
|
2.2
|
(2.2
|
)
|
|||||||||||||||||||||||||
Dividend to owners of the Company
|
(2,378.6
|
)
|
(2,378.6
|
)
|
(2,378.6
|
)
|
||||||||||||||||||||||
Dividend to non-controlling interests in subsidiaries
|
(4.6
|
)
|
(4.6
|
)
|
||||||||||||||||||||||||
Balance June 30, 2022
|
925.4
|
1,115.7
|
(30.5
|
)
|
3,231.4
|
5,242.0
|
6.2
|
5,248.2
|
||||||||||||||||||||
For the three months period ended June 30, 2022
|
||||||||||||||||||||||||||||
Balance at March 31, 2022
|
924.3
|
1,109.3
|
(23.8
|
)
|
2,246.1
|
4,255.9
|
4.3
|
4,260.2
|
||||||||||||||||||||
Profit for the period
|
1,333.1
|
1,333.1
|
2.7
|
1,335.8
|
||||||||||||||||||||||||
Other comprehensive income for the period, net of tax
|
(6.7
|
)
|
(6.0
|
)
|
(12.7
|
)
|
(0.7
|
)
|
(13.4
|
)
|
||||||||||||||||||
Share-based compensation
|
7.5
|
7.5
|
7.5
|
|||||||||||||||||||||||||
Exercise of options
|
1.1
|
(1.1
|
)
|
|||||||||||||||||||||||||
Dividend to owners of the Company
|
(341.8
|
)
|
(341.8
|
)
|
(341.8
|
)
|
||||||||||||||||||||||
Dividend to non-controlling interests in subsidiaries
|
(0.1
|
)
|
(0.1
|
)
|
||||||||||||||||||||||||
Balance at June 30, 2022
|
925.4
|
1,115.7
|
(30.5
|
)
|
3,231.4
|
5,242.0
|
6.2
|
5,248.2
|
||||||||||||||||||||
For the year ended December 31, 2022
|
||||||||||||||||||||||||||||
Balance at December 31, 2021
|
923.2
|
1,107.9
|
(19.7
|
)
|
2,580.6
|
4,592.0
|
7.5
|
4,599.5
|
||||||||||||||||||||
Initial application of amendment to IAS 37
|
(3.3
|
)
|
(3.3
|
)
|
(3.3
|
)
|
||||||||||||||||||||||
Balance at January 1, 2022
|
923.2
|
1,107.9
|
(19.7
|
)
|
2,577.3
|
4,588.7
|
7.5
|
4,596.2
|
||||||||||||||||||||
Profit for the year
|
4,619.4
|
4,619.4
|
9.6
|
4,629.0
|
||||||||||||||||||||||||
Other comprehensive income for the year, net of tax
|
(33.9
|
)
|
(15.8
|
)
|
8.5
|
(41.2
|
)
|
(2.2
|
)
|
(43.4
|
)
|
|||||||||||||||||
Exercise of options
|
2.7
|
(2.7
|
)
|
|||||||||||||||||||||||||
Share-based compensation
|
25.8
|
25.8
|
25.8
|
|||||||||||||||||||||||||
Dividend to owners of the Company
|
(3,303.3
|
)
|
(3,303.3
|
)
|
(3,303.3
|
)
|
||||||||||||||||||||||
Acquisition of subsidiary with non-controlling interest
|
0.2
|
0.2
|
(0.2
|
)
|
||||||||||||||||||||||||
Dividend to non-controlling interests in subsidiaries
|
(8.4
|
)
|
(8.4
|
)
|
||||||||||||||||||||||||
Balance at December 31, 2022
|
925.9
|
1,097.3
|
(35.5
|
)
|
3,901.9
|
5,889.6
|
6.3
|
5,895.9
|
Six months ended
|
Three months ended
|
Year ended
|
||||||||||||||||||
June 30
|
June 30
|
Dec 31
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
US $ in millions
|
||||||||||||||||||||
Cash flows from operating activities
|
||||||||||||||||||||
Profit (loss) for the period
|
(270.8
|
)
|
3,046.8
|
(212.7
|
)
|
1,335.8
|
4,629.0
|
|||||||||||||
Adjustments for:
|
||||||||||||||||||||
Depreciation and amortization
|
808.7
|
627.5
|
421.5
|
337.3
|
1,396.3
|
|||||||||||||||
Net finance expenses
|
155.1
|
51.8
|
104.3
|
27.9
|
108.5
|
|||||||||||||||
Share of profits and change in fair value of investees
|
2.2
|
(3.7
|
)
|
1.8
|
(2.2
|
)
|
(2.1
|
)
|
||||||||||||
Capital loss (gain), net
|
7.4
|
(15.8
|
)
|
17.2
|
(11.8
|
)
|
(42.7
|
)
|
||||||||||||
Income taxes
|
(66.0
|
)
|
908.2
|
(59.4
|
)
|
400.6
|
1,398.3
|
|||||||||||||
Other non-cash items
|
9.7
|
10.0
|
3.4
|
7.5
|
39.7
|
|||||||||||||||
646.3
|
4,624.8
|
276.1
|
2,095.1
|
7,527.0
|
||||||||||||||||
Change in inventories
|
16.6
|
(97.2
|
)
|
15.0
|
(42.4
|
)
|
(71.7
|
)
|
||||||||||||
Change in trade and other receivables
|
176.9
|
(61.8
|
)
|
33.7
|
34.5
|
496.6
|
||||||||||||||
Change in trade and other payables including contract liabilities
|
(95.9
|
)
|
30.9
|
(4.2
|
)
|
(5.1
|
)
|
(325.7
|
)
|
|||||||||||
Change in provisions and employee benefits
|
2.9
|
(2.2
|
)
|
1.5
|
(0.1
|
)
|
15.9
|
|||||||||||||
100.5
|
(130.3
|
)
|
46.0
|
(13.1
|
)
|
115.1
|
||||||||||||||
Dividends received
|
1.5
|
1.4
|
0.9
|
|||||||||||||||||
Interest received
|
88.0
|
7.4
|
38.5
|
4.2
|
53.2
|
|||||||||||||||
Income taxes paid
|
(316.1
|
)
|
(1,132.0
|
)
|
(15.4
|
)
|
(376.3
|
)
|
(1,586.1
|
)
|
||||||||||
Net cash generated from operating activities
|
520.2
|
3,369.9
|
346.6
|
1,709.9
|
6,110.1
|
|||||||||||||||
Cash flows from investing activities
|
||||||||||||||||||||
Proceeds from sale of tangible assets, intangible assets, and interest in investees
|
17.7
|
16.9
|
5.5
|
11.6
|
48.1
|
|||||||||||||||
Acquisition and capitalized expenditures of tangible assets, intangible assets and interest in investees
|
(61.5
|
)
|
(263.1
|
)
|
(25.6
|
)
|
(80.6
|
)
|
(345.5
|
)
|
||||||||||
Acquisition of investment instruments, net
|
(583.4
|
)
|
(515.9
|
)
|
(422.3
|
)
|
(333.0
|
)
|
(1,433.1
|
)
|
||||||||||
Loans granted to investees
|
(1.7
|
)
|
||||||||||||||||||
Change in other receivables
|
(14.0
|
)
|
(2.6
|
)
|
(5.8
|
)
|
(2.3
|
)
|
(20.2
|
)
|
||||||||||
Change in other investments (mainly deposits), net
|
1,982.7
|
(189.1
|
)
|
581.8
|
(288.9
|
)
|
105.7
|
|||||||||||||
Net cash generated from (used in) investing activities
|
1,339.8
|
(953.8
|
)
|
133.6
|
(693.2
|
)
|
(1,645.0
|
)
|
Six months ended
|
Three months ended
|
Year ended
|
||||||||||||||||||
June 30
|
June 30
|
Dec 31
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
US $ in millions
|
||||||||||||||||||||
Cash flows from financing activities
|
||||||||||||||||||||
Receipt of long-term loans and other long-term liabilities
|
59.2
|
59.2
|
||||||||||||||||||
Repayment of lease liabilities and borrowings
|
(861.4
|
)
|
(532.5
|
)
|
(466.4
|
)
|
(323.6
|
)
|
(1,449.4
|
)
|
||||||||||
Change in short term loans
|
(21.0
|
)
|
(53.5
|
)
|
(33.5
|
)
|
(53.5
|
)
|
||||||||||||
Dividend paid to non-controlling interests
|
(7.5
|
)
|
(4.6
|
)
|
(0.6
|
)
|
(0.1
|
)
|
(8.4
|
)
|
||||||||||
Dividend paid to owners of the Company
|
(769.2
|
)
|
(2,378.6
|
)
|
(769.2
|
)
|
(2,378.6
|
)
|
(3,303.3
|
)
|
||||||||||
Interest paid
|
(182.7
|
)
|
(94.7
|
)
|
(95.9
|
)
|
(54.2
|
)
|
(221.0
|
)
|
||||||||||
Net cash used in financing activities
|
(1,841.8
|
)
|
(3,004.7
|
)
|
(1,332.1
|
)
|
(2,790.0
|
)
|
(4,976.4
|
)
|
||||||||||
Net change in cash and cash equivalents
|
18.2
|
(588.6
|
)
|
(851.9
|
)
|
(1,773.3
|
)
|
(511.3
|
)
|
|||||||||||
Cash and cash equivalents at beginning of the period
|
1,022.1
|
1,543.3
|
1,892.6
|
2,727.2
|
1,543.3
|
|||||||||||||||
Effect of exchange rate fluctuation on cash held
|
0.0
|
(7.9
|
)
|
(0.4
|
)
|
(7.1
|
)
|
(9.9
|
)
|
|||||||||||
Cash and cash equivalents at the end of the period
|
1,040.3
|
946.8
|
1,040.3
|
946.8
|
1,022.1
|
1 |
Reporting entity
|
2 |
Basis of compliance
|
(a) | Statement of compliance |
(b) |
Estimates
|
3 |
Significant accounting policies
|
4 |
Financial position
|
(a) |
The container shipping industry continues to be characterized by volatility in freight rates, charter rates and bunker prices, accompanied by continuing uncertainties in the global
trade (including ongoing inflation and the rise of interest rates in certain countries, the implications of the ongoing military conflict between Russia and Ukraine and other geopolitical challenges). In addition, regulators in certain
jurisdictions (mainly in the U.S) have become more active in their regulatory oversight over our industry, through change in regulations and interpretation of related rules.
|
(b) |
In April 2023, further to the approval by the Company’s Board of Directors in March 2023, the Company distributed a dividend in an amount of US$ 769 million, reflecting US$ 6.40 per
ordinary share.
|
(c) |
In the second quarter of 2023, further to an expiration of related repurchase options, the Company concluded that certain vessels, which were
previously subject to a sale and lease back transaction accounted as a secured borrowing, will be redelivered on lease maturity. Accordingly, the Company recorded US$ 46 million as a financial expense for remeasurement of the related
liability and US$ 21 million as a capital loss for derecognizing such liability and the related vessels (both with no cash impact).
|
4
|
Financial position (cont’d)
|
(d)
|
Charter agreements:
|
(e) |
In 2020, a regulator in a certain jurisdiction decided to exclude a wholly-owned subsidiary of the Company from an industry-related competition law investigation, initiated earlier in
that year. In June 2023, a local court accepted an appeal on the decision to exclude this Company subsidiary from the said investigation, which is expected to be re-launched. At this preliminary stage, based on the opinion of the Company’s
legal advisors, the outcome of this matter cannot be assessed.
|
(f) |
In June 2023 the Company (and its wholly owned digital freight forwarded subsidiary, Ship4WD) entered into an agreement with a factoring service provider, for the recurring sale of
receivables, as part of the Company's initiatives to provide its customers with additional services, including trade credit. The sale of the receivables under this arrangement meets the conditions for derecognition of financial assets as
prescribed in IFRS 9.
|
5 |
Capital and reserves
Share-Based Payment Arrangements
During the six and three-month period ended June 30, 2023, a total of 68,354 and 34,177 ordinary shares were issued, respectively, upon the cashless exercise of
options, previously granted in respect of share-based payment arrangements.
During the six and three-month period ended June 30, 2023, 2022 and the year ended December 31, 2022, the Company recorded expenses related to share-based
compensation arrangements of US$ 11.1 million, US$ 4.2 million, US$ 10.0 million, US$ 7.5 million and US$ 25.8 million, respectively.
In August 2023, the Company’s Board of Directors approved the grant of 80,868 options to the Company’s ordinary shares, to certain officers and employees.
|
6 |
Right-of-use assets
|
Balance at
June 30
|
Balance at December 31
|
|||||||||||
2023
|
2022
|
2022
|
||||||||||
US $ in millions
|
||||||||||||
Vessels
|
4,703.9
|
3,949.4
|
3,967.3
|
|||||||||
Containers and handling equipment
|
342.8
|
418.4
|
380.0
|
|||||||||
Other tangible assets
|
80.7
|
52.3
|
58.0
|
|||||||||
5,127.4
|
4,420.1
|
4,405.3
|
7 |
Segment information
|
Six months ended June 30
|
Three months ended June 30
|
Year ended December 31
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
US $ in millions
|
||||||||||||||||||||
Freight Revenues from containerized cargo:
|
||||||||||||||||||||
Pacific
|
881.0
|
3,296.7
|
452.4
|
1,571.3
|
5,504.2
|
|||||||||||||||
Cross-Suez
|
322.5
|
914.6
|
151.7
|
441.9
|
1,528.5
|
|||||||||||||||
Atlantic
|
378.0
|
661.6
|
161.4
|
331.8
|
1,231.3
|
|||||||||||||||
Intra-Asia
|
319.4
|
1,143.4
|
158.3
|
546.4
|
1,945.9
|
|||||||||||||||
Latin America
|
194.7
|
366.5
|
102.8
|
186.8
|
742.3
|
|||||||||||||||
2,095.6
|
6,382.8
|
1,026.6
|
3,078.2
|
10,952.2
|
||||||||||||||||
Other Revenues (*)
|
588.3
|
762.4
|
283.0
|
350.6
|
1,609.4
|
|||||||||||||||
2,683.9
|
7,145.2
|
1,309.6
|
3,428.8
|
12,561.6
|
8 |
Operating expenses and cost of services
|
Six months ended
June 30
|
Three months ended
June 30
|
Year ended
December 31
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
US $ in millions
|
||||||||||||||||||||
|
||||||||||||||||||||
Wages, maintenance and other vessel-operating costs |
17.1
|
16.1
|
8.7
|
9.3
|
34.5
|
|||||||||||||||
Expenses relating to fleet equipment (mainly containers and chassis) |
15.6
|
15.2
|
7.7
|
7.9
|
29.1
|
|||||||||||||||
Bunker and lubricants
|
553.8
|
646.5
|
281.4
|
384.7
|
1,434.8
|
|||||||||||||||
Insurance
|
9.9
|
6.2
|
5.3
|
4.1
|
15.2
|
|||||||||||||||
Expenses related to cargo handling
|
843.3
|
1,014.3
|
424.2
|
529.9
|
1,981.6
|
|||||||||||||||
Port expenses
|
237.2
|
155.2
|
137.5
|
84.6
|
359.0
|
|||||||||||||||
Agents’ salaries and commissions
|
104.5
|
130.8
|
53.8
|
70.3
|
261.1
|
|||||||||||||||
Cost of related services and sundry
|
89.5
|
108.9
|
32.4
|
44.2
|
216.1
|
|||||||||||||||
Slot purchases and hire of vessels
|
30.1
|
270.4
|
17.0
|
119.5
|
398.8
|
|||||||||||||||
Hire of containers
|
12.6
|
17.0
|
5.9
|
7.8
|
34.3
|
|||||||||||||||
1,913.6
|
2,380.6
|
973.9
|
1,262.3
|
4,764.5
|
9 |
Financial instruments
|
Balance at June 30,
|
Balance at December 31,
|
|||||||||||||||||||||||||||||||||||
2023
|
2022
|
2022
|
||||||||||||||||||||||||||||||||||
US $ in millions
|
||||||||||||||||||||||||||||||||||||
Level 1
|
Level 3
|
Total
|
Level 1
|
Level 3
|
Total
|
Level 1
|
Level 3
|
Total
|
||||||||||||||||||||||||||||
Fair value through profit and loss
|
||||||||||||||||||||||||||||||||||||
Cash and cash equivalents:
|
||||||||||||||||||||||||||||||||||||
Money markets instruments
|
418.0
|
418.0
|
||||||||||||||||||||||||||||||||||
Other investments:
|
||||||||||||||||||||||||||||||||||||
Equity instruments
|
10.7
|
10.7
|
7.8
|
7.8
|
11.2
|
11.2
|
||||||||||||||||||||||||||||||
Loans and other liabilities:
|
||||||||||||||||||||||||||||||||||||
Derivative instruments
|
(12.3
|
)
|
(12.3
|
)
|
(13.7
|
)
|
(13.7
|
)
|
||||||||||||||||||||||||||||
Fair value through other comprehensive income
|
||||||||||||||||||||||||||||||||||||
Other investments:
|
||||||||||||||||||||||||||||||||||||
Sovereign bonds
|
1,122.4
|
1,122.4
|
226.3
|
226.3
|
893.5
|
893.5
|
||||||||||||||||||||||||||||||
Corporate bonds
|
1,034.5
|
1,034.5
|
436.9
|
436.9
|
637.7
|
637.7
|
||||||||||||||||||||||||||||||
Equity instruments
|
2.0
|
2.0
|
23.0
|
23.0
|
42.2
|
42.2
|
10 |
Earnings (loss) per share
|
Six months ended June 30
|
Three months ended June 30
|
Year ended December 31
|
||||||||||||||||||
2023
|
2022
|
2023
|
2022
|
2022
|
||||||||||||||||
US $ in millions
|
||||||||||||||||||||
Profit (loss) attributable to ordinary shareholders used to calculate basic and diluted earnings per share (US $ in millions)
|
(274.6
|
)
|
3,041.9
|
(215.1
|
)
|
1,333.1
|
4,619.4
|
|||||||||||||
Number of shares at the beginning of the period used to calculate basic earnings (loss) per share
|
120,149,921
|
119,910,688
|
120,184,098
|
119,910,688
|
119,910,688
|
|||||||||||||||
Effect of share options
|
32,478
|
40,030
|
11,267
|
79,620
|
101,687
|
|||||||||||||||
Weighted average number of ordinary shares used to calculate basic earnings (loss) per share
|
120,182,399
|
119,950,718
|
120,195,365
|
119,990,308
|
120,012,375
|
|||||||||||||||
Effect of share options
|
491,243
|
451,905
|
432,514
|
|||||||||||||||||
Weighted average number of ordinary shares used to calculate diluted earnings (loss) per share
|
120,182,399
|
120,441,961
|
120,195,365
|
120,442,213
|
120,444,889
|
1 Year ZIM Integrated Shipping ... Chart |
1 Month ZIM Integrated Shipping ... Chart |
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