China Airlines (2610) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 was NT$52.77 billion, up 8.5% year-over-year, with net profit at NT$4.66 billion, a 36.5% increase from Q1 2024.

• Gross margin improved to 18% from 16% year-over-year, and basic EPS rose to NT$0.69 from NT$0.51.

• The company continued fleet modernization, with significant aircraft purchase commitments and ongoing asset sales.

• Cash dividends of NT$0.79587 per share for 2024 were proposed, pending shareholder approval.

Financial highlights

• Operating costs increased 5.1% year-over-year to NT$43.15 billion, while gross profit rose 26.6% to NT$9.62 billion.

• Profit before tax was NT$5.80 billion, up 36.4% year-over-year; net profit attributable to owners was NT$4.19 billion.

• Total assets as of March 31, 2025, were NT$326.79 billion, with equity at NT$94.35 billion.

• Cash and cash equivalents at quarter-end were NT$61.46 billion, down from NT$66.65 billion at year-end 2024.

• Net cash from operating activities was NT$6.90 billion, while investing and financing activities used NT$6.48 billion and NT$5.64 billion, respectively.

Outlook and guidance

• The company is assessing the impact of new IFRS standards effective from 2026 and 2027, with no material effect expected from current adoptions.

• Ongoing fleet expansion and modernization are expected to support future growth, with major aircraft deliveries scheduled through 2029.