Wan Hai Lines (2615) Q4 2025 earnings summary

Executive summary

• Consolidated financial statements audited by KPMG for the years ended December 31, 2025 and 2024, prepared in accordance with IFRS as endorsed by Taiwan's FSC.

• The Group is primarily engaged in international marine transportation, shipping agencies, container storage, and vessel/container sales and rental.

• Only one reportable segment identified, focused on shipping operations.

Financial highlights

• Operating revenue for 2025 was $140,353,465 thousand, down 13% year-over-year from $161,798,959 thousand in 2024.

• Net profit for 2025 was $31,487,179 thousand, a 34% decrease from $47,422,445 thousand in 2024.

• Basic EPS for 2025 was $11.21, compared to $16.89 in 2024.

• Total assets at year-end 2025 were $409,253,666 thousand; total equity was $275,747,158 thousand.

• Cash and cash equivalents increased to $109,494,384 thousand at year-end 2025 from $72,691,809 thousand in 2024.

Outlook and guidance

• The Group is evaluating the impact of IFRS 18, which will be adopted in Taiwan in 2028, and does not expect other new standards to have significant impact.

• Ongoing fleet renewal with significant vessel construction contracts for methanol and LNG dual fuel container ships.