News / Stock sinks, losses mount and guidance weighs heavy for Zim

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Israeli container carrier Zim today reported a full-year 2023 net loss of $2.69bn, including a $2.06bn non-cash impairment, and a net loss of $147m for the fourth quarter, prompting a 15% decline in its share price.

These results compared with a full-year profit of $4.63bn in 2022, and a net profit of $417m for the fourth quarter 2022, with the declines largely based on a steep revenue drop: 2023 revenues came in at $5.16bn, a 59% decrease on 2022; while Q4 ...