Evergreen Line achieved another miracle in its performance, with a single-quarter profit exceeding NT$100 billion, far higher than market expectations.
On May 6, Evergreen Line announced its first-quarter financial report. The consolidated revenue reached NT$170.817 billion (approximately RMB 38.473 billion), an annual increase of 89.9%, setting a new historical record.
Gross profit margin rose again to 69.09%, also hitting a new high, significantly better than the 65.12% in the previous quarter and 51.85% in the same period last year.
At the same time, the net profit after tax in the first quarter was also quite outstanding, breaking the 100 billion mark to NT$101.359 billion (about 22.829 billion yuan), an annual increase of 180.9%.
Most analysts believe that the low-season freight rate remained relatively high in the first quarter, supporting Evergreen Line's earnings.
As its performance has increased significantly, Evergreen has risen again in the global container shipping market. According to the latest data from Alphaliner, Evergreen has replaced ONE to become the sixth largest container shipping company in the world. The fleet capacity is 201 ships of about 1.51 million TEU, with a market share of 5.9%.
Source: Xinde Marine News Sarah Yu
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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