EVA Airways (2618) Q2 2024 earnings summary

Executive summary

• Operating revenue for the six months ended June 30, 2024, was NT$107.29 billion, up 15% year-over-year, with net profit attributable to owners at NT$12.5 billion, a 20% increase year-over-year.

• Gross margin remained stable at 22%, and basic EPS for the period was NT$2.31, compared to NT$1.95 in the prior year.

• Cash dividends of NT$1.8 per share were approved for 2023 earnings.

Financial highlights

• Operating income for the six months was NT$16.72 billion, up from NT$14.04 billion year-over-year.

• Net cash from operating activities was NT$31.05 billion, with cash and cash equivalents at NT$85.65 billion as of June 30, 2024.

• Total assets reached NT$346.19 billion, and total equity was NT$117.19 billion.

• Depreciation and amortization expenses for the period were NT$14.48 billion and NT$126 million, respectively.

Outlook and guidance

• The aviation transportation segment is subject to seasonal fluctuations, with higher revenues expected in the third quarter due to holidays and summer travel.

• The company continues to evaluate the impact of climate change and new IFRS standards on its financial position.