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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 2018 TWDUSD
Revenue179,907.33M5,966.19M
Gross Profit20,950.89M694.78M
Operating income8,889.12M294.78M
Income before tax8,954.35M296.94M
Net income6,552.82M217.30M
EBITDA22,122.22M733.63M
Diluted EPS1.310.04
Dividends Per Share0.480.01
Total Assets241,193.90M7,847.02M
Total liabilities171,074.16M5,565.74M
Total equity63,582.26M2,068.59M
Operating cash flow23,654.32M784.43M
Currency in TWDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 133,090.00M 137,168.54M 144,679.66M 163,561.73M 179,907.33M
Gross Profit 11,671.13M 19,515.87M 18,243.01M 20,211.93M 20,950.89M
Operating income 2,634.88M 9,205.24M 7,129.93M 8,694.91M 8,889.12M
Income before tax -61.34M 7,234.01M 5,171.74M 7,810.22M 8,954.35M
Net income -1,306.72M 6,436.42M 3,476.00M 5,752.06M 6,552.82M
EBITDA 14,181.49M 22,188.28M 22,411.99M 22,898.04M 22,122.22M
Diluted EPS -0.33 1.43 0.76 1.13 1.31
Dividends Per Share 0 0.25 0.17 0.18 0.48
Total Assets 167,560.20M 195,406.31M 217,663.40M 228,207.22M 241,193.90M
Total liabilities 127,883.19M 140,678.79M 158,327.12M 164,400.63M 171,074.16M
Total equity 34,391.88M 48,858.81M 53,328.19M 57,604.81M 63,582.26M
Operating cash flow 14,125.20M 25,339.74M 20,095.95M 16,812.86M 23,654.32M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 4,391.94M 4,319.71M 4,486.07M 5,376.30M 5,966.19M
Gross Profit 385.14M 614.59M 565.66M 664.37M 694.78M
Operating income 86.95M 289.89M 221.07M 285.80M 294.78M
Income before tax -2.02M 227.81M 160.36M 256.72M 296.94M
Net income -43.12M 202.69M 107.78M 189.07M 217.30M
EBITDA 467.98M 698.75M 694.92M 752.66M 733.63M
Diluted EPS -0.01 0.04 0.02 0.03 0.04
Dividends Per Share 0 0.00 0.00 0.00 0.01
Total Assets 5,302.20M 5,948.98M 6,753.65M 7,668.64M 7,847.02M
Total liabilities 4,046.68M 4,282.85M 4,912.56M 5,524.49M 5,565.74M
Total equity 1,088.28M 1,487.46M 1,654.66M 1,935.74M 2,068.59M
Operating cash flow 466.12M 797.99M 623.11M 552.64M 784.43M

Valuation Measures

Dec 2018
PER10.56
ROA2.79%
ROE10.81%
Operating margin4.94%
Profit margin3.64%

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%)
  • Labor Pension New Fund (1.9%)
  • CHANG KUO CHENG (1.9%)
  • The Vanguard Group, Inc. (1.7%)
  • Dimensional Fund Advisors LP (1.5%)
  • BlackRock Fund Advisors (1.4%)
  • CHANG KUO MING (1.1%)

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.
  • China Southern Airlines Company Limited Class H
  • Thai Airways International Public Co. Ltd.
  • PAL Holdings, Inc.
Last Updated on 6 Dec, 2019

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