EVA Airways (2618) Q1 2025 earnings summary

Executive summary

• Q1 2025 operating revenue rose 5.8% year-over-year to NT$54,944 million, with net profit attributable to owners up 25.8% to NT$5,930 million.

• Net operating income increased 25.5%, and profit rose 22.4%.

• Gross margin improved to 23% from 20% year-over-year, and basic EPS rose to NT$1.10 from NT$0.87.

• Passenger revenue reached NT$36.4 billion, supported by strong January demand and an 81% load factor.

• Cargo revenue and yield increased, driven by demand for AI servers, semiconductors, and e-commerce goods.

Financial highlights

• Net operating income for Q1 2025 was NT$8,351 million, up 25.5% year-over-year.

• Earnings per share increased 26.4% to NT$1.10.

• Operating costs increased 2.1% year-over-year to NT$42.37 billion, and operating expenses rose 12.5% to NT$4.23 billion.

• Net cash from operating activities was NT$16.45 billion, down slightly from NT$17.39 billion in Q1 2024.

• Total assets as of March 31, 2025, were NT$358.47 billion, with equity at NT$123.90 billion.

Segment performance

• Passenger revenue grew 7% year-over-year in North East Asia, with stable long-haul revenue.

• Aviation transportation contributed NT$51.23 billion in external revenue, while aircraft maintenance and manufacture added NT$2.79 billion.

• Segment profit for aviation transportation was NT$6.76 billion, and for maintenance/manufacture NT$833 million.

• Cargo revenue increased 25.9% year-over-year, with yield up 20.2% and volume up 7.9%.

• Passenger fares remained stable, with Europe/Oceania showing strong demand; Greater China markets remained soft.