Taiwan’s Evergreen Marine (EMC), Yang Ming, and Wan Hai Lines reported a collective operating profit of TWD 238.7 billion ($8.01 billion) for the first three months of the year after revenue increased 9%. compared to the previous quarter, reports Alphaliner. Evergreen was the strongest performer, it reports the highest operating margin among the three, coinciding with its recent rise to position six in the global carrier rankings.
Operating profit (EBIT) increased 23% quarter-on-quarter to TWD 117.2 billion (USD 3.9 billion), equivalent to an operating margin of 68.8%.
Additionally, Alphaliner adds that the now sixth largest carrier in the world saw revenue of TWD 170.8bn, up 90% year-on-year and 9% quarter-on-quarter. Taiwanese lines, which have a smaller proportion of contract business than some of their European counterparts, have nonetheless benefited from higher freight rates, port congestion and cargo commotion ahead of the Chinese New Year.
According to Alphaliner, Yang Ming, which posted the highest operating margin the previous quarter, saw a slowdown in growth, with revenue and profit up just 4% from the fourth quarter. The airline posted an operating profit of TWD 72.6 billion (USD 2.4 billion) on revenue of TWD 106.7 billion.
Finally, Wan Hai Lines posted an operating profit of TWD 48.9 billion (USD 1.6 billion) on revenue of TWD 80.5 billion. As with the other lines, the figures marked a new record for the airline, which is increasingly expanding outside its specialty within Asia, concludes Alphaliner.