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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 2020 TWDUSD
Revenue89,048.77M3,024.29M
Gross Profit7,185.49M244.03M
Operating income-801.63M-27.22M
Income before tax-4,491.59M-152.54M
Net income-3,361.63M-114.16M
EBITDA26,707.07M907.03M
Diluted EPS-0.69-0.02
Dividends Per Share----
Total Assets329,567.25M11,729.20M
Total liabilities252,907.72M9,000.91M
Total equity70,797.38M2,519.65M
Operating cash flow1,607.10M54.58M
Currency in TWDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 144,679.66M 163,561.73M 179,907.33M 181,275.25M 89,048.77M
Gross Profit 18,243.01M 20,211.93M 20,950.89M 21,390.05M 7,185.49M
Operating income 7,129.93M 8,694.91M 8,889.12M 9,442.72M -801.63M
Income before tax 5,171.74M 7,810.22M 8,954.35M 5,923.55M -4,491.59M
Net income 3,476.00M 5,752.06M 6,552.82M 3,982.46M -3,361.63M
EBITDA 22,411.99M 22,898.04M 22,122.22M 36,489.62M 26,707.07M
Diluted EPS 0.76 1.13 1.31 0.75 -0.69
Dividends Per Share 0.17 0.18 0.48 0.25 --
Total Assets 217,663.40M 228,207.22M 241,193.90M 356,251.69M 329,567.25M
Total liabilities 158,327.12M 164,400.63M 171,074.16M 278,109.67M 252,907.72M
Total equity 53,328.19M 57,604.81M 63,582.26M 71,252.18M 70,797.38M
Operating cash flow 20,095.95M 16,812.86M 23,654.32M 33,706.98M 1,607.10M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 4,486.07M 5,376.30M 5,966.19M 5,864.10M 3,024.29M
Gross Profit 565.66M 664.37M 694.78M 691.95M 244.03M
Operating income 221.07M 285.80M 294.78M 305.46M -27.22M
Income before tax 160.36M 256.72M 296.94M 191.62M -152.54M
Net income 107.78M 189.07M 217.30M 128.82M -114.16M
EBITDA 694.92M 752.66M 733.63M 1,180.40M 907.03M
Diluted EPS 0.02 0.03 0.04 0.02 -0.02
Dividends Per Share 0.00 0.00 0.01 0.00 --
Total Assets 6,753.65M 7,668.64M 7,847.02M 11,884.16M 11,729.20M
Total liabilities 4,912.56M 5,524.49M 5,565.74M 9,277.43M 9,000.91M
Total equity 1,654.66M 1,935.74M 2,068.59M 2,376.89M 2,519.65M
Operating cash flow 623.11M 552.64M 784.43M 1,090.39M 54.58M

Valuation Measures

Dec 2020
PER--
ROA-0.98%
ROE-4.73%
Operating margin-0.90%
Profit margin-3.77%

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) (16.0%)
  • Evergreen Marine Corp. (Taiwan) Ltd. (15.7%)
  • CHANG KUO WEI /EVA AIRWAYS/ (10.4%)
  • ZHANG JUNG FA (2.6%)
  • CHANG KUO CHENG (1.8%)
  • The Vanguard Group, Inc. (1.4%)
  • CHANG KUO MING (1.1%)
  • Dimensional Fund Advisors LP (1.0%)
  • Labor Pension New Fund (1.0%)
  • 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

  • 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 13 May, 2021

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