ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Transportation

Evergreen Marine Corp. (Taiwan) Ltd.

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 2021 TWDUSD
Revenue489,346.51M17,519.28M
Gross Profit301,934.43M10,809.67M
Operating income284,623.90M10,189.93M
Income before tax282,507.53M10,114.16M
Net income239,014.86M8,557.06M
EBITDA307,054.14M10,992.96M
Diluted EPS113.034.04
Dividends Per Share44.991.61
Total Assets611,026.12M22,085.01M
Total liabilities253,704.53M9,169.93M
Total equity326,784.53M11,811.34M
Operating cash flow301,715.11M10,801.82M
Currency in TWDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 150,567.85M 169,242.03M 190,626.68M 207,079.81M 489,346.51M
Gross Profit 10,874.28M 7,470.86M 14,555.02M 45,489.09M 301,934.43M
Operating income 4,315.68M -584.11M 4,282.32M 34,613.92M 284,623.90M
Income before tax 4,963.95M 441.05M 111.83M 31,388.50M 282,507.53M
Net income 7,005.17M 293.91M 112.51M 24,364.92M 239,014.86M
EBITDA 12,017.24M 8,155.79M 24,880.32M 55,524.56M 307,054.14M
Diluted EPS 4.64 0.17 0.06 12.39 113.03
Dividends Per Share 0.47 0 0 6.21 44.99
Total Assets 200,079.89M 229,011.95M 306,595.63M 334,220.84M 611,026.12M
Total liabilities 133,391.10M 158,044.11M 233,000.79M 232,726.54M 253,704.53M
Total equity 63,398.55M 66,844.23M 70,045.77M 94,281.71M 326,784.53M
Operating cash flow 11,987.82M 3,762.96M 20,716.68M 52,564.94M 301,715.11M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 4,949.19M 5,612.50M 6,166.61M 7,032.88M 17,519.28M
Gross Profit 357.43M 247.75M 470.84M 1,544.90M 10,809.67M
Operating income 141.85M -19.37M 138.52M 1,175.56M 10,189.93M
Income before tax 163.16M 14.62M 3.61M 1,066.02M 10,114.16M
Net income 230.26M 9.74M 3.63M 827.48M 8,557.06M
EBITDA 395.00M 270.46M 804.85M 1,885.73M 10,992.96M
Diluted EPS 0.15 0.00 0.00 0.42 4.04
Dividends Per Share 0.01 0 0 0.21 1.61
Total Assets 6,723.45M 7,450.69M 10,227.69M 11,894.82M 22,085.01M
Total liabilities 4,482.45M 5,141.82M 7,772.65M 8,282.67M 9,169.93M
Total equity 2,130.43M 2,174.71M 2,336.65M 3,355.45M 11,811.34M
Operating cash flow 394.04M 124.78M 670.16M 1,785.22M 10,801.82M

Valuation Measures

Dec 2021
PER3.12
ROA50.57%
ROE113.52%
Operating margin58.16%
Profit margin48.84%

Key executives

  • General Manager & Director: Huey Chuan Hsieh
  • Chief Financial Officer & Deputy Spokesman: Kuang Hui Wu
  • Deputy General Manager: Daw-Ming Hu

Shareholders

  • Evergreen International SA (7.4%)
  • CHANG KUO HUA (6.0%)
  • Evergreen International Corp. (Taiwan) (4.9%)
  • ZHANG JUNG FA (3.4%)
  • Yuanta Securities Investment Trust Co., Ltd. (2.2%)
  • CHANG KUO MING (2.2%)
  • Labor Pension New Fund (1.2%)
  • The Vanguard Group, Inc. (1.1%)
  • BlackRock Fund Advisors (1.0%)
  • Ally Holding Ltd. (0.9%)

Contact Details

Related Companies

  • Evergreen Shipping Service (Cambodia) Co. Ltd.
  • Evergreen Shipping Agency (Peru) SAC
  • Evergreen Shipping Agency (Colombia) SAS
  • Evergreen Marine (Latin America) SA
  • Evergreen Shipping Agency (Mexico) SA de CV
  • Evergreen Shipping Agency (Vietnam) Co., Ltd.
  • Evergreen Shipping Agency (Korea) Corp.
  • Evergreen Shipping Agency (Israel) Ltd.
  • Evergreen Shipping Agency (Greece) SA
  • Evergreen Shipping Agency (Brazil) SA
  • Everport Terminal Services, Inc.
  • 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.
  • Taiwan Terminal Services Corp. 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) SL
  • Evergreen Shipping Agency Philippines Corp.

Competitors

  • A.P. Moller - Maersk A/S Class B
  • COSCO SHIPPING Holdings Co., Ltd. Class H
  • Wan Hai Lines Ltd.
  • Yang Ming Marine Transport Corp.
  • HMM CO.,LTD
  • Hapag-Lloyd AG
  • Kawasaki Kisen Kaisha, Ltd.
  • Nippon Yusen Kabushiki Kaisha
  • Mitsui O.S.K.Lines,Ltd.
  • ZIM Integrated Shipping Services Ltd.
  • Orient Overseas (International) Limited
  • Matson, Inc.
  • Navios Maritime Partners LP
Last Updated on 4 Oct, 2022

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more