- Evergreen saw a 20% increase in Q2 revenue to $3.3 billion and a significant rise in operating profit, more than doubling from the previous quarter and tripling compared to Q2 2023.
- Wan Hai reported a 55% revenue increase to $1.5 billion and a dramatic recovery in operating profit to $335 million, a stark contrast to the $52.4 million loss in Q2 2023.
- Yang Ming achieved a 51% revenue boost to $1.6 billion and an operating profit of $435 million, marking an 800% year-on-year improvement.
Taiwan’s major container lines experienced robust growth in the second quarter of 2024. Evergreen’s revenue surged by 20% to $3.3 billion, with its operating profit more than doubling from the previous quarter and tripling compared to the same period last year. Wan Hai saw a substantial 55% increase in revenue to $1.5 billion and turned around its operating profit to $335 million, recovering from a loss in the previous year. Yang Ming also saw impressive gains, with a 51% rise in revenue to $1.6 billion and an operating profit nearly doubling from the previous quarter, reflecting an 800% year-on-year improvement. These results highlight a significant rebound in profitability for Taiwan’s container lines, reflecting a strong market recovery, reports The Loadstar.
Financial results
Taiwan’s leading container lines, including Evergreen, Wan Hai, and Yang Ming, all reported impressive financial results for the second quarter of 2024. Evergreen achieved a 20% increase in revenue to $3.3 billion and saw its operating profit soar to $1 billion, more than doubling from the previous quarter and tripling compared to the same period in 2023. This marks Evergreen’s most profitable quarter since Q3 2022, reflecting a notable recovery in its operational performance.
Wan Hai also showed a remarkable turnaround, with its revenue climbing by 55% to $1.5 billion. The carrier reversed its previous year’s loss, reporting an operating profit of $335 million, a significant improvement from the $52.4 million loss recorded in Q2 2023. This represents a five-fold increase from the previous quarter.
Yang Ming experienced a 51% boost in revenue to $1.6 billion and nearly doubled its operating profit to $435 million, reflecting an 800% year-on-year increase. These gains follow a period of substantial revenue growth, underscoring the carrier’s strong financial recovery.
Overall, the positive results across Taiwan’s top container lines signal a robust rebound in the shipping industry, highlighting a strong recovery and increased profitability following challenging periods.
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Source: The Loadstar
