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Evergreen Marine Corp. (Taiwan) Ltd.

  • 11.95 TWD
  • -0.05
  • -0.42%
  • Taiwan
    Feb 20, 2019
  • Ticker
    TAI(2603)
  • Prev. close
    12.00
  • Market cap (TWD)
    54,155.68M
  • Market cap (USD)
    1,757.15M
  • Shares
    4,512.97M

Company Background

Founded in 1968 by tycoon Chang Yung-fa, Evergreen Marine is one of the world's largest maritime freight companies.

The Taiwan-based company is a unit of Evergreen Group, a transportation conglomerate controlled by the Chang family. The group includes Taiwan's second-largest airline, EVA Airways.

The company's core businesses include cargo transport by ship, vessel construction and port management.

In recent years, Evergreen has been enhancing its fleet by leasing bigger ships and building newer vessels. It aims to better compete in a sector pinched by a sluggish global economic recovery.

The Chang family remains a major shareholder, though it mainly relies on professional managers to oversee operations. Chairman Anchor Chang, who is not related to the founding family, has been with Evergreen since 1986.

Business Summary

Evergreen Marine Corp. (Taiwan) Ltd. provides marine shipping services. The firm offers container services, micro computer-controlled reefer containers, slot charters, slot exchanges and joint services, container terminals, and e-business services. Evergreen Marine was founded by Chang Yung-Fa on September 1, 1968 and is headquartered in Taipei, Taiwan.

Financial Highlights

Dec 2017 TWDUSD
Revenue150,567.85M4,949.19M
Gross Profit10,874.28M357.43M
Operating income4,315.68M141.85M
Income before tax4,963.95M163.16M
Net income7,005.17M230.26M
EBITDA12,017.24M395.00M
Diluted EPS1.870.06
Dividends Per Share0.180.00
Total Assets200,079.89M6,723.45M
Total liabilities133,391.10M4,482.45M
Total equity63,398.55M2,130.43M
Operating cash flow11,987.82M394.04M
Currency in TWDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 139,216.38M 144,282.37M 133,734.67M 124,461.65M 150,567.85M
Gross Profit 388.74M 7,344.81M 1,540.31M -3,494.11M 10,874.28M
Operating income -5,107.78M 1,618.58M -4,160.77M -9,729.52M 4,315.68M
Income before tax -482.61M 4,760.45M -4,221.75M -7,821.32M 4,963.95M
Net income -1,497.30M 1,176.03M -4,408.07M -6,607.98M 7,005.17M
EBITDA 1,665.58M 9,322.05M 4,025.27M -1,612.38M 12,017.24M
Diluted EPS -0.39 0.31 -1.18 -1.76 1.87
Dividends Per Share 0 0.09 0 0 0.18
Total Assets 174,352.45M 188,926.35M 192,652.20M 189,753.76M 200,079.89M
Total liabilities 114,241.11M 124,061.51M 131,357.60M 136,115.26M 133,391.10M
Total equity 57,183.79M 60,909.29M 58,001.04M 50,987.49M 63,398.55M
Operating cash flow 1,146.33M 11,685.41M 5,772.65M 81.31M 11,987.82M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 4,690.38M 4,761.28M 4,211.57M 3,859.18M 4,949.19M
Gross Profit 13.09M 242.37M 48.50M -108.34M 357.43M
Operating income -172.08M 53.41M -131.03M -301.68M 141.85M
Income before tax -16.25M 157.09M -132.95M -242.51M 163.16M
Net income -50.44M 38.80M -138.81M -204.89M 230.26M
EBITDA 56.11M 307.62M 126.76M -49.99M 395.00M
Diluted EPS -0.01 0.01 -0.03 -0.05 0.06
Dividends Per Share 0 0.00 0 0 0.00
Total Assets 5,850.06M 5,978.30M 5,865.13M 5,887.67M 6,723.45M
Total liabilities 3,833.14M 3,925.74M 3,999.07M 4,223.37M 4,482.45M
Total equity 1,918.69M 1,927.38M 1,765.79M 1,582.03M 2,130.43M
Operating cash flow 38.62M 385.61M 181.79M 2.52M 394.04M

Valuation Measures

Dec 2017
PER8.29
ROA3.59%
ROE12.24%
Operating margin2.86%
Profit margin4.65%

Key executives

  • President, General Manager & Director: Mong Jye Lee
  • Chief Financial Officer & Deputy Spokesman: Kuang Hui Wu
  • Deputy General Manager: Daw-Ming Hu

Shareholders

  • Evergreen International SA (8.7%)
  • CHANG KUO HUA (6.7%)
  • Evergreen International Corp. (Taiwan) (6.7%)
  • ZHANG JUNG FA (4.9%)
  • CHANG KUO MING (2.5%)
  • The Vanguard Group, Inc. (1.8%)
  • BlackRock Fund Advisors (1.4%)
  • Dimensional Fund Advisors LP (1.2%)
  • Chang Yung Fa Charity Foundation (0.7%)
  • BlackRock Japan Co., Ltd. (0.5%)

Contact Details

Related Companies

  • Green Andes Shipping Agency (Chile) SpA
  • Evergreen Shipping Agency (France) SAS
  • Evergreen Marine (Singapore) Pte Ltd.
  • Polaris Global ETF's Fund
  • Versoix Shipping Co. Ltd.
  • Evergreen Shipping Agency (Ireland) Ltd.
  • Evergreen Shipping Agency (India) Pvt Ltd.
  • Evergreen Marine Corp. (Malaysia) Sdn. Bhd.
  • Evergreen Shipping Agency Thailand Co. Ltd.
  • Evergreen Marine (Hong Kong) Ltd.
  • Evergreen Shipping Agency Netherlands BV
  • Balsam Estate BV
  • Italia Marittima SpA
  • Evergreen Shipping Agency Italy SpA
  • Evergreen Marine (UK) Ltd.
  • Evergreen Shipping Agency (Deutschland) GmbH
  • Evergreen Shipping Spain Sociedad Ltda
  • Evergreen Shipping Agency Philippines Corp.
  • Evergreen Marine Australia Pty Ltd.
  • Island Equipment LLC
  • Peony Investment SA
  • Evergreen Shipping Agency (America) Corp.
  • Yung-Hua Investment Co. Ltd.
  • Lloyd Triestino di Navigazione SpA
  • Uniglory Marine Corp

Competitors

  • Orient Overseas (International) Limited
  • Mitsui O.S.K.Lines,Ltd.
  • Nippon Yusen Kabushiki Kaisha
  • COSCO SHIPPING Holdings Co., Ltd. Class H
  • Hyundai Merchant Marine Co., Ltd
  • A.P. Moller - Maersk A/S Class B
  • Hapag-Lloyd AG
  • Yang Ming Marine Transport Corp.
  • Wan Hai Lines Ltd.
  • Eimskipafelag Islands hf.
  • Matson, Inc.
  • Navios Maritime Partners LP
  • Center for Cargo Container Traffic TransContainer PJSC
Last Updated on 20 Feb, 2019

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