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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 2019 TWDUSD
Revenue181,275.25M5,864.10M
Gross Profit21,390.05M691.95M
Operating income9,442.72M305.46M
Income before tax5,923.55M191.62M
Net income3,982.46M128.82M
EBITDA36,489.62M1,180.40M
Diluted EPS0.750.02
Dividends Per Share0.250.00
Total Assets356,251.69M11,884.16M
Total liabilities278,109.67M9,277.43M
Total equity71,252.18M2,376.89M
Operating cash flow33,706.98M1,090.39M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 137,168.54M 144,679.66M 163,561.73M 179,907.33M 181,275.25M
Gross Profit 19,515.87M 18,243.01M 20,211.93M 20,950.89M 21,390.05M
Operating income 9,205.24M 7,129.93M 8,694.91M 8,889.12M 9,442.72M
Income before tax 7,234.01M 5,171.74M 7,810.22M 8,954.35M 5,923.55M
Net income 6,436.42M 3,476.00M 5,752.06M 6,552.82M 3,982.46M
EBITDA 22,188.28M 22,411.99M 22,898.04M 22,122.22M 36,489.62M
Diluted EPS 1.43 0.76 1.13 1.31 0.75
Dividends Per Share 0.25 0.17 0.18 0.48 0.25
Total Assets 195,406.31M 217,663.40M 228,207.22M 241,193.90M 356,251.69M
Total liabilities 140,678.79M 158,327.12M 164,400.63M 171,074.16M 278,109.67M
Total equity 48,858.81M 53,328.19M 57,604.81M 63,582.26M 71,252.18M
Operating cash flow 25,339.74M 20,095.95M 16,812.86M 23,654.32M 33,706.98M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,319.71M 4,486.07M 5,376.30M 5,966.19M 5,864.10M
Gross Profit 614.59M 565.66M 664.37M 694.78M 691.95M
Operating income 289.89M 221.07M 285.80M 294.78M 305.46M
Income before tax 227.81M 160.36M 256.72M 296.94M 191.62M
Net income 202.69M 107.78M 189.07M 217.30M 128.82M
EBITDA 698.75M 694.92M 752.66M 733.63M 1,180.40M
Diluted EPS 0.04 0.02 0.03 0.04 0.02
Dividends Per Share 0.00 0.00 0.00 0.01 0.00
Total Assets 5,948.98M 6,753.65M 7,668.64M 7,847.02M 11,884.16M
Total liabilities 4,282.85M 4,912.56M 5,524.49M 5,565.74M 9,277.43M
Total equity 1,487.46M 1,654.66M 1,935.74M 2,068.59M 2,376.89M
Operating cash flow 797.99M 623.11M 552.64M 784.43M 1,090.39M

Valuation Measures

Dec 2019
PER16.66
ROA1.33%
ROE5.90%
Operating margin5.20%
Profit margin2.19%

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) (16.2%)
  • Evergreen Marine Corp. (Taiwan) Ltd. (15.9%)
  • CHANG KUO WEI /EVA AIRWAYS/ (10.6%)
  • ZHANG JUNG FA (2.7%)
  • CHANG KUO CHENG (1.9%)
  • The Vanguard Group, Inc. (1.7%)
  • Dimensional Fund Advisors LP (1.6%)
  • BlackRock Fund Advisors (1.4%)
  • CHANG KUO MING (1.1%)
  • Labor Pension New Fund (1.0%)

Contact Details

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

Related Companies

  • 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.
  • Thai Airways International Public Co. Ltd.
  • China Southern Airlines Company Limited Class H
  • China Eastern Airlines Corporation Limited Class H
  • PAL Holdings, Inc.
Last Updated on 30 Sep, 2020

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