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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 2019 TWDUSD
Revenue190,626.68M6,166.61M
Gross Profit14,555.02M470.84M
Operating income4,282.32M138.52M
Income before tax111.83M3.61M
Net income112.51M3.63M
EBITDA24,880.32M804.85M
Diluted EPS0.020.00
Dividends Per Share00
Total Assets306,595.63M10,227.69M
Total liabilities233,000.79M7,772.65M
Total equity70,045.77M2,336.65M
Operating cash flow20,716.68M670.16M
Currency in TWDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 133,734.67M 124,461.65M 150,567.85M 169,242.03M 190,626.68M
Gross Profit 1,540.31M -3,494.11M 10,874.28M 7,470.86M 14,555.02M
Operating income -4,160.77M -9,729.52M 4,315.68M -584.11M 4,282.32M
Income before tax -4,221.75M -7,821.32M 4,963.95M 441.05M 111.83M
Net income -4,408.07M -6,607.98M 7,005.17M 293.91M 112.51M
EBITDA 4,025.27M -1,612.38M 12,017.24M 8,155.79M 24,880.32M
Diluted EPS -1.17 -1.74 1.85 0.06 0.02
Dividends Per Share 0 0 0.18 0 0
Total Assets 192,652.20M 189,753.76M 200,079.89M 229,011.95M 306,595.63M
Total liabilities 131,357.60M 136,115.26M 133,391.10M 158,044.11M 233,000.79M
Total equity 58,001.04M 50,987.49M 63,398.55M 66,844.23M 70,045.77M
Operating cash flow 5,772.65M 81.31M 11,987.82M 3,762.96M 20,716.68M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,211.57M 3,859.18M 4,949.19M 5,612.50M 6,166.61M
Gross Profit 48.50M -108.34M 357.43M 247.75M 470.84M
Operating income -131.03M -301.68M 141.85M -19.37M 138.52M
Income before tax -132.95M -242.51M 163.16M 14.62M 3.61M
Net income -138.81M -204.89M 230.26M 9.74M 3.63M
EBITDA 126.76M -49.99M 395.00M 270.46M 804.85M
Diluted EPS -0.03 -0.05 0.06 0.00 0.00
Dividends Per Share 0 0 0.00 0 0
Total Assets 5,865.13M 5,887.67M 6,723.45M 7,450.69M 10,227.69M
Total liabilities 3,999.07M 4,223.37M 4,482.45M 5,141.82M 7,772.65M
Total equity 1,765.79M 1,582.03M 2,130.43M 2,174.71M 2,336.65M
Operating cash flow 181.79M 2.52M 394.04M 124.78M 670.16M

Valuation Measures

Dec 2019
PER500
ROA0.04%
ROE0.16%
Operating margin2.24%
Profit margin0.05%

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 (8.1%)
  • CHANG KUO HUA (6.6%)
  • Evergreen International Corp. (Taiwan) (5.4%)
  • ZHANG JUNG FA (4.5%)
  • Labor Pension New Fund (3.1%)
  • CHANG KUO MING (2.4%)
  • Cathay Life Insurance Co., Ltd. (Invt Port) (2.4%)
  • CHANG KUO CHENG (1.9%)
  • FU TI CHEN (1.8%)
  • The Vanguard Group, Inc. (1.8%)

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

  • Kawasaki Kisen Kaisha, Ltd.
  • Nippon Yusen Kabushiki Kaisha
  • COSCO SHIPPING Holdings Co., Ltd. Class H
  • Hapag-Lloyd AG
  • HMM CO.,LTD
  • A.P. Moller - Maersk A/S Class B
  • Mitsui O.S.K.Lines,Ltd.
  • Antong Holdings Co., Ltd. Class A
  • Wan Hai Lines Ltd.
  • Yang Ming Marine Transport Corp.
  • Orient Overseas (International) Limited
  • Matson, Inc.
  • Navios Maritime Partners LP
  • Triton International Ltd. Class A
Last Updated on 30 Sep, 2020

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