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Marco Lemitte

Vice President and Equity Analyst at Barclays

Marco Lemitte is a Vice President and Equity Analyst at Barclays, specializing in coverage of European transportation, logistics, and industrial companies. He has analyzed and made recommendations on firms such as Deutsche Post AG (DHL), ZIM Integrated Shipping Services, and several other notable UK, German, Italian, Spanish, French, and US market names, with a total coverage of over 21 stocks. Lemitte's performance track record shows a success rate of approximately 50% and an average return of -3.4% per rating, with notable outperformance on select trades including a +61.7% return on Deutsche Post AG. He began his analyst career prior to 2020 and has held roles at Barclays since at least then, although earlier positions and specific credentials are not publicly documented; securities licenses and FINRA registration are unverified.

Marco Lemitte's questions to ZIM Integrated Shipping Services (ZIM) leadership

Question · Q3 2025

Marco Lemitte asked for clarification on ZIM's dividend policy, particularly in the context of potential negative net income, visibility and timing for the Red Sea reopening, the reasons behind the reduced upper end of the EBIT guidance, and whether Q4 guidance includes any one-off issues related to U.S. and Chinese port fees.

Answer

President and CEO Eli Glickman reiterated ZIM's dividend policy of distributing 30% of quarterly net profit, with the board having authority for special dividends. He expressed hope for a profitable Q4 and confirmed ZIM's intention to resume Suez Canal passage as soon as ship owner and insurance approvals are obtained. CFO Xavier Destriau attributed the EBIT guidance adjustment to rounding, the impact of two acquired vessels, equipment acquisitions (containers), and capitalized IT costs. He clarified that no extra levies from U.S. or Chinese port fees are included in the Q4 guidance.

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Question · Q3 2025

Marco Lemitte asked for a reminder of ZIM's dividend policy, particularly concerning potential negative net income in Q4 and beyond, and whether this implies a halt in future dividends. He also sought clarity on the timing and visibility for the Red Sea reopening and the reasons behind the adjustment to the upper end of the adjusted EBIT guidance. Additionally, Lemitte questioned if the Q4 guidance includes impacts from US and Chinese port issues and if any one-off costs from these issues are non-recurring.

Answer

ZIM President and CEO Eli Glickman reiterated the dividend policy of distributing 30% of quarterly net profit, with the board having authority for special dividends. He expressed hope for a profitable Q4 and stated ZIM's readiness to return to the Red Sea/Suez Canal as soon as ship owner and insurance company approvals are secured. CFO Xavier Destriau attributed the EBIT guidance adjustment to a mix of factors, including amortization from two acquired vessels and capitalized IT costs, leading to a rounding adjustment in depreciation. Destriau confirmed there are no extra levies due to US/China port issues included in the guidance.

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