Yang Ming Marine Transport Corporation (Yang Ming) posted its Q1 financial report of 2022 on 12th May. The consolidated revenues of Q1 totaled NTD 106.7 billion (USD 3.81 billion), increased 71.32% compared with NTD 62.28 billion (USD 2.22 billion) in revenue from the same period of previous year. The company’s net profit, after tax, was NTD 60.58 billion (USD 2.16 billion), with an EPS of NTD 17.35.
The record results were driven by higher level of freight rates resulting from solid demand, persistent COVID-related port congestion and pre-Chinese New Year cargo rush. Despite the challenging environment, Yang Ming continues to deliver strong quarterly growth and profitability.