Yang Ming reports financial results for 2022 Q3

Yang Ming Marine Transport Corporation (Yang Ming) held its 379^th Board Meeting on November 10^th, 2022 to approve its 2022 Q3 financial report. The Company’s consolidated revenues in Q3 totaled NTD 99.81 billion (USD 3.41 billion). Yang Ming’s profit after-tax in Q3 reached NTD 49.75 billion (USD 1.7 billion), with EPS of NTD 14.25. For the first three quarters of 2022, Yang Ming’s consolidated revenues totaled NTD 315.96 billion (USD 10.79 billion). The Company’s profit after-tax for the first three quarters improved by 50.95% year-on-year to NTD 165.86 billion (USD 5.66 billion), with EPS NTD 47.5.

In the first three quarters of 2022, the ongoing Russia-Ukraine war and global inflation surge had an impact on the container shipping industry. The unresolved port congestion and stalled U.S. West Coast contract negotiations also added uncertainty in the supply chain. In the face of these challenges, Yang Ming will continue to maintain schedule integrity and remain cautiously optimistic in the fourth quarter.