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Yang Ming Marine Transport (2609) investor relations material
Yang Ming Marine Transport Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for 2025 was NT$163.56 billion, down 27% year-over-year, with net profit dropping 73% to NT$17.38 billion.
Gross margin fell from 35% in 2024 to 15% in 2025, reflecting higher cost ratios and lower freight rates.
The company maintained a strong equity position, with total equity at NT$326.6 billion, representing 72% of total assets.
Cash dividends of NT$7.5 per share were distributed in 2025, up from NT$2 per share in 2024.
Financial highlights
Operating revenue: NT$163.56 billion in 2025 vs. NT$222.71 billion in 2024.
Net profit: NT$17.38 billion in 2025 vs. NT$64.47 billion in 2024.
Basic EPS: NT$4.90 in 2025, down from NT$18.38 in 2024.
Cash and cash equivalents decreased to NT$106.53 billion from NT$165.50 billion year-over-year.
Operating cash flow dropped to NT$24.67 billion from NT$85.35 billion.
Outlook and guidance
Management expects continued volatility due to global economic uncertainty, environmental regulations, and geopolitical risks.
New IFRS standards effective from 2026 are not expected to materially impact financials.
- Net profit fell 71% year-over-year amid market headwinds, but liquidity remains robust.2609
Q3 20255 Dec 2025 - First-half 2025 profit fell 62% year-over-year amid lower freight rates and market volatility.2609
Q2 20251 Sep 2025 - Net profit surged to NT$51.9B on strong revenue and margin gains, with major ship buybacks.2609
Q3 202413 Jun 2025 - Net profit soared to NT$23.42 billion in H1 2024 as revenue and margins rebounded sharply.2609
Q2 202413 Jun 2025 - Q1 2024 saw higher revenue but lower profit as margins tightened; cash reserves remain robust.2609
Q1 20256 Jun 2025 - 2023 net income soared to NT$64.5B on strong shipping margins and cash flow.2609
Q4 20245 Jun 2025
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