Evergreen Marine Corporation (Taiwan) (2603) Q4 2025 earnings summary

Executive summary

• Consolidated financial statements for the years ended December 31, 2025 and 2024 were audited and present fairly in all material respects in accordance with IFRS as endorsed by the FSC.

• The Group is primarily engaged in global container shipping, agency, and freight station business, with freight revenue representing 93.39% of operating revenue in 2025.

• Key audit matter identified was the accuracy and cut-off of freight revenue due to the complexity and manual processes involved in revenue recognition.

Financial highlights

• Operating revenue for 2025 was NT$379,068,627 thousand, down 18% from NT$463,567,897 thousand in 2024.

• Net profit for 2025 was NT$70,247,810 thousand, a 51% decrease from NT$143,984,042 thousand in 2024.

• Gross profit margin declined to 24% in 2025 from 38% in 2024.

• Basic EPS was NT$31.68 in 2025, down from NT$64.87 in 2024.

• Cash and cash equivalents at year-end 2025 were NT$174,366,257 thousand, down from NT$253,369,890 thousand in 2024.

Outlook and guidance

• The Board resolved to appropriate 2025 earnings with a proposed cash dividend of NT$16 per share, pending shareholder approval.

• Significant capital expenditures and vessel orders are planned for 2026, including orders for 23 new container vessels.

• The Board approved the issuance of up to USD 500 million in green bonds to finance environmental vessels.