Evergreen Marine Corporation (Taiwan) (2603) Q1 2026 earnings summary

Executive summary

• Operating revenue for Q1 2026 was NT$86.5 billion, down 21% year-over-year from NT$110.0 billion in Q1 2025.

• Net profit for Q1 2026 was NT$8.7 billion, a 69% decrease from NT$27.8 billion in Q1 2025.

• Total comprehensive income for Q1 2026 was NT$18.8 billion, compared to NT$35.5 billion in Q1 2025.

Financial highlights

• Gross profit margin dropped to 15% in Q1 2026 from 30% in Q1 2025.

• Basic EPS for Q1 2026 was NT$3.84, down from NT$12.64 in Q1 2025.

• Cash and cash equivalents at March 31, 2026 were NT$183.5 billion, compared to NT$272.0 billion a year earlier.

• Total assets at March 31, 2026 were NT$935.1 billion; total equity was NT$605.0 billion.

Outlook and guidance

• The company continues to invest in fleet expansion and green initiatives, including the issuance of USD 300 million in green bonds post-quarter for methanol dual-fuel vessels.

• Ongoing capital expenditures for new ships, equipment, and infrastructure are expected to support long-term competitiveness.