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Transportation

EVA Airways Corp.

Company Background

Founded in 1989 by Taiwanese tycoon Chang Yung-fa, EVA Airways is Taiwan's second-largest carrier after government-controlled China Airlines. It is a unit of the transportation conglomerate Evergreen Group, which is controlled by the Chang family. The conglomerate includes Evergreen Marine, Taiwan's largest sea freight transporter.

EVA is a member of Star Alliance, the global airline network. It operates flights to major destinations in Asia, Europe, North America and Oceania. EVA mostly relies on Airbus A321 and Boeing 777 planes for long-haul flights and depends on routes to North America, South Asia and Japan for revenue growth.

Passenger flights account for close to 70% of the company's revenue, while cargo services contribute about 25%. Catering, ground handling and other air travel-related services generate the rest of EVA's income.

EVA is popular in Taiwan because of its pristine flight safety record and Hello Kitty jets, particularly on the Japan routes.

Incumbent EVA Chairman Chang Kuo-wei is the youngest son of Yung-fa. He has a master's degree in economics from California State University, Long Beach.

Business Summary

EVA Airways Corp. engages in the operation of an international air transportation business. It operates through the following segments: Aviation Transportation, Maintenance and Catering Service. The Aviation Transportation segment involves in aviation transportation of passengers and cargo. The Maintenance segment focuses on maintenance of aircraft, engine, and aircraft parts. The Catering Service segment provides catering service. The company was founded by Yung-Fa Chang in March 1989 and is headquartered in Taoyuan, Taiwan.

Financial Highlights

Dec 2021 TWDUSD
Revenue103,872.35M3,718.77M
Gross Profit18,022.05M645.21M
Operating income10,357.84M370.82M
Income before tax7,721.70M276.44M
Net income6,608.49M236.59M
EBITDA38,462.23M1,377.00M
Diluted EPS1.280.04
Dividends Per Share0.590.02
Total Assets325,314.05M11,758.19M
Total liabilities232,606.69M8,407.36M
Total equity85,657.27M3,096.00M
Operating cash flow32,140.62M1,150.67M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 163,561.73M 179,907.33M 181,275.25M 89,048.77M 103,872.35M
Gross Profit 20,211.93M 20,950.89M 21,390.05M 7,185.49M 18,022.05M
Operating income 8,694.91M 8,889.12M 9,442.72M -801.63M 10,357.84M
Income before tax 7,810.22M 8,954.35M 5,923.55M -4,491.59M 7,721.70M
Net income 5,752.06M 6,552.82M 3,982.46M -3,361.63M 6,608.49M
EBITDA 22,898.04M 22,122.22M 36,489.62M 26,707.07M 38,462.23M
Diluted EPS 1.13 1.31 0.75 -0.69 1.28
Dividends Per Share 0.18 0.48 0.25 0 0.59
Total Assets 228,207.22M 241,193.90M 356,251.69M 329,567.25M 325,314.05M
Total liabilities 164,400.63M 171,074.16M 278,109.67M 252,907.72M 232,606.69M
Total equity 57,604.81M 63,582.26M 71,252.18M 70,797.38M 85,657.27M
Operating cash flow 16,812.86M 23,654.32M 33,706.98M 1,607.10M 32,140.62M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 5,376.30M 5,966.19M 5,864.10M 3,024.29M 3,718.77M
Gross Profit 664.37M 694.78M 691.95M 244.03M 645.21M
Operating income 285.80M 294.78M 305.46M -27.22M 370.82M
Income before tax 256.72M 296.94M 191.62M -152.54M 276.44M
Net income 189.07M 217.30M 128.82M -114.16M 236.59M
EBITDA 752.66M 733.63M 1,180.40M 907.03M 1,377.00M
Diluted EPS 0.03 0.04 0.02 -0.02 0.04
Dividends Per Share 0.00 0.01 0.00 0 0.02
Total Assets 7,668.64M 7,847.02M 11,884.16M 11,729.20M 11,758.19M
Total liabilities 5,524.49M 5,565.74M 9,277.43M 9,000.91M 8,407.36M
Total equity 1,935.74M 2,068.59M 2,376.89M 2,519.65M 3,096.00M
Operating cash flow 552.64M 784.43M 1,090.39M 54.58M 1,150.67M

Valuation Measures

Dec 2021
PER21.34
ROA2.01%
ROE8.44%
Operating margin9.97%
Profit margin6.36%

Key executives

  • General Manager & Director: Chia Ming Sun
  • Senior Vice President-Operation Management: Chin Lung Hsiao
  • Chief Financial Officer & Deputy General Manager: Ta Wei Tsai
  • Deputy General Manager: Ching Sheng Ho
  • Senior Vice President-Customer Service Division: Yu Chuan Lu

Shareholders

  • Evergreen International Corp. (Taiwan) (17.1%)
  • Evergreen Marine Corp. (Taiwan) Ltd. (14.5%)
  • CHANG KUO WEI /EVA AIRWAYS/ (8.9%)
  • CHANG KUO CHENG (2.4%)
  • ZHANG JUNG FA (2.4%)
  • Labor Pension New Fund (1.8%)
  • The Vanguard Group, Inc. (1.1%)
  • Cathay Life Insurance Co., Ltd. (Invt Port) (1.1%)
  • BlackRock Fund Advisors (0.9%)
  • Evergreen International Storage & Transport Corp. (0.9%)

Contact Details

  • Website:http://evaair.com
  • Address: 376 Hsin-Nan Road, Section 1, Taoyuan, 33801, Taiwan
  • Phone: +886.2.25001122

Related Companies

  • PT Perdana Andalan Air Service
  • Evergreen Airways Service (Macau) Ltd.
  • Hsiang-Li Investment Corp.
  • EVA Flight Training Academy
  • Evergreen Aviation Precision Corp.
  • Eva Airways Corp. (Canada)
  • Evergreen Air Cargo Services Corp.
  • Concord Pacific Ltd.
  • Evergreen Airline Services Corp.
  • Evergreen Aviation Technologies Corp.
  • UNI Airways Corp.
  • Hsiang-Li Investment Co. Ltd.

Competitors

  • China Airlines Ltd.
  • Tigerair Taiwan Co., Ltd.
  • STARLUX AIRLINES CO., LTD.
  • China Southern Airlines Company Limited Class H
Last Updated on 30 Nov, 2022

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