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Yang Ming Marine Transport (2609) investor relations material
Yang Ming Marine Transport Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating revenue for Q1 2026 was NT$38.66 billion, down 15% year-over-year from NT$45.51 billion in Q1 2025.
Net profit for Q1 2026 was NT$1.50 billion, a sharp decline from NT$7.85 billion in Q1 2025.
Earnings per share dropped to NT$0.41 from NT$2.23 year-over-year.
Gross profit margin fell to 7% from 21% in the prior year period.
Financial highlights
Operating costs remained stable at NT$35.84 billion, but as a percentage of revenue increased to 93% from 79% year-over-year.
Operating expenses decreased to NT$2.16 billion from NT$2.51 billion year-over-year.
Profit before income tax was NT$1.90 billion, down from NT$10.09 billion year-over-year.
Cash and cash equivalents at March 31, 2026 were NT$136.01 billion, down from NT$199.74 billion a year earlier.
Total assets at March 31, 2026 were NT$460.18 billion, with total equity of NT$329.77 billion.
Outlook and guidance
Management highlighted ongoing assessment of impacts from EU environmental policies, Red Sea crisis, Russia-Ukraine and US-Iran conflicts, inflation, and US tariffs.
The company is monitoring the effects of new IFRS standards and Pillar Two global minimum tax rules.
- 2025 saw a steep drop in profit and margin, but equity and dividends remained robust.2609
Q4 20254 May 2026 - Net profit fell 71% year-over-year amid market headwinds, but liquidity remains robust.2609
Q3 20255 Dec 2025 - First-half 2025 profit fell 62% year-over-year amid lower freight rates and market volatility.2609
Q2 20251 Sep 2025 - Net profit surged to NT$51.9B on strong revenue and margin gains, with major ship buybacks.2609
Q3 202413 Jun 2025 - Net profit soared to NT$23.42 billion in H1 2024 as revenue and margins rebounded sharply.2609
Q2 202413 Jun 2025 - Q1 2024 saw higher revenue but lower profit as margins tightened; cash reserves remain robust.2609
Q1 20256 Jun 2025 - 2023 net income soared to NT$64.5B on strong shipping margins and cash flow.2609
Q4 20245 Jun 2025
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