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Transportation

Evergreen Marine Corp. (Taiwan) Ltd.

  • 12.75 TWD
  • -0.15
  • -1.16%
  • Taiwan
    Aug 23, 2019
  • Ticker
    TAI(2603)
  • Prev. close
    12.90
  • Market cap (TWD)
    58,217.40M
  • Market cap (USD)
    1,855.65M
  • 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 2018 TWDUSD
Revenue169,242.03M5,612.50M
Gross Profit7,470.86M247.75M
Operating income-584.11M-19.37M
Income before tax441.05M14.62M
Net income293.91M9.74M
EBITDA8,155.79M270.46M
Diluted EPS0.060.00
Dividends Per Share----
Total Assets229,011.95M7,450.69M
Total liabilities158,044.11M5,141.82M
Total equity66,844.23M2,174.71M
Operating cash flow3,762.96M124.78M
Currency in TWDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 144,282.37M 133,734.67M 124,461.65M 150,567.85M 169,242.03M
Gross Profit 7,344.81M 1,540.31M -3,494.11M 10,874.28M 7,470.86M
Operating income 1,618.58M -4,160.77M -9,729.52M 4,315.68M -584.11M
Income before tax 4,760.45M -4,221.75M -7,821.32M 4,963.95M 441.05M
Net income 1,176.03M -4,408.07M -6,607.98M 7,005.17M 293.91M
EBITDA 9,322.05M 4,025.27M -1,612.38M 12,017.24M 8,155.79M
Diluted EPS 0.31 -1.18 -1.76 1.87 0.06
Dividends Per Share 0.09 0 0 0.18 --
Total Assets 188,926.35M 192,652.20M 189,753.76M 200,079.89M 229,011.95M
Total liabilities 124,061.51M 131,357.60M 136,115.26M 133,391.10M 158,044.11M
Total equity 60,909.29M 58,001.04M 50,987.49M 63,398.55M 66,844.23M
Operating cash flow 11,685.41M 5,772.65M 81.31M 11,987.82M 3,762.96M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 4,761.28M 4,211.57M 3,859.18M 4,949.19M 5,612.50M
Gross Profit 242.37M 48.50M -108.34M 357.43M 247.75M
Operating income 53.41M -131.03M -301.68M 141.85M -19.37M
Income before tax 157.09M -132.95M -242.51M 163.16M 14.62M
Net income 38.80M -138.81M -204.89M 230.26M 9.74M
EBITDA 307.62M 126.76M -49.99M 395.00M 270.46M
Diluted EPS 0.01 -0.03 -0.05 0.06 0.00
Dividends Per Share 0.00 0 0 0.00 --
Total Assets 5,978.30M 5,865.13M 5,887.67M 6,723.45M 7,450.69M
Total liabilities 3,925.74M 3,999.07M 4,223.37M 4,482.45M 5,141.82M
Total equity 1,927.38M 1,765.79M 1,582.03M 2,130.43M 2,174.71M
Operating cash flow 385.61M 181.79M 2.52M 394.04M 124.78M

Valuation Measures

Dec 2018
PER171.71
ROA0.13%
ROE0.45%
Operating margin-0.34%
Profit margin0.17%

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 (8.6%)
  • CHANG KUO HUA (7.0%)
  • Evergreen International Corp. (Taiwan) (6.6%)
  • ZHANG JUNG FA (4.8%)
  • Cathay Life Insurance Co., Ltd. (Invt Port) (2.7%)
  • CHANG KUO MING (2.5%)
  • CHANG KUO CHENG (2.0%)
  • FU TI CHEN (1.9%)
  • The Vanguard Group, Inc. (1.9%)
  • Chang Yu Holding Co. Ltd. (1.4%)

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 (Europe) 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
  • COSCO SHIPPING Holdings Co., Ltd. Class H
  • Hyundai Merchant Marine Co., Ltd
  • A.P. Moller - Maersk A/S Class B
  • Hapag-Lloyd AG
  • Antong Holdings Co., Ltd. Class A
  • Wan Hai Lines Ltd.
  • Yang Ming Marine Transport Corp.
  • Matson, Inc.
  • Nippon Yusen Kabushiki Kaisha
  • Navios Maritime Partners LP
  • Center for Cargo Container Traffic TransContainer PJSC
Last Updated on 23 Aug, 2019

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