Evergreen reports quarterly net earnings of USD 3.1 billion

Evergreen: Profits Plunge Q3 versus 2023 but resilient on a Q vs Q basis

Evergreen Marine Corp reported a net profit of TWD 103.0 billion (USD 3.2 billion) for the third quarter. Revenue, EBIT and net income were down compared to the prior three-month period, Alphaliner reports.

Revenue for Taiwan’s largest container line reached TWD 170.4 billion, up 19% from a year earlier, but down 2.5% from the second quarter of the year. At TWD 111.4 billion, EBIT increased 15% yoy but decreased 8% qoq.
The figures confirm the record result generated by Evergreen in the second quarter of the year, which represents a peak for the carrier. Evergreen reported net profit of TWD 314.6 billion ($9.8 billion) for the full nine months of 2022, on revenue of TWD 516.2 billion, Alphaliner says.

Since the start of the pandemic, Evergreen has expanded its fleet by more than 400,000 TEUs, increasing its total market share from 5.2% to 6.3%. Earlier this year, it rose up the airline rankings to sixth, overtaking ONE and bolstered by its large order book, which at the time was the largest after MSC. COSCO and CMA CGM subsequently built up larger order books, Alphaliner concludes.

Source: Alphaliner

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