Evergreen Marine Corporation (Taiwan) (2603) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw strong revenue and profit growth, with operating revenue up 24% year-over-year and net profit up 53% year-over-year.

• The company continued to expand its global shipping and logistics network, including new investments and acquisitions.

• The Board resolved a significant acquisition cancellation post-quarter, reflecting agile strategic adjustments.

Financial highlights

• Operating revenue: NT$109,970.6 million, up from NT$88,638.7 million year-over-year.

• Net profit: NT$27,837.7 million, up from NT$18,223.3 million year-over-year.

• Gross margin improved to 30% from 22% year-over-year.

• Basic EPS: NT$12.64, up from NT$8.14 year-over-year.

• Cash and cash equivalents increased to NT$271,986.6 million from NT$173,535.7 million year-over-year.

Outlook and guidance

• The company continues to invest in fleet and infrastructure, with significant undelivered ship and equipment contracts.

• Dividend payout for 2024 earnings proposed at NT$32.5 per share, pending shareholder approval.