Yang Ming Marine Transport (2609) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 was NT$45.51 billion, up 3.9% year-over-year, with net profit at NT$7.85 billion, down 16.9% from Q1 2024.

• Gross profit margin decreased to 21% from 23% year-over-year, reflecting higher operating costs.

• Total comprehensive income for the period was NT$9.63 billion, a 26% decrease year-over-year.

Financial highlights

• Operating costs rose 6.7% year-over-year to NT$35.95 billion, mainly due to increased shipping fuel expenses.

• Earnings per share were NT$2.23 basic and NT$2.22 diluted, compared to NT$2.69 and NT$2.68 in Q1 2024.

• Cash and cash equivalents increased to NT$199.74 billion from NT$72.33 billion a year ago.

• Net cash from operating activities was NT$6.37 billion, down from NT$9.48 billion in Q1 2024.

• Total assets reached NT$492.53 billion, with equity attributable to owners at NT$349.98 billion.

Outlook and guidance

• The Group continues to monitor the impact of new IFRS standards effective in 2026 and is assessing their future impact.

• The board proposed a cash dividend of NT$7.5 per share for 2024, pending shareholder approval.