What Drove Wan Hai Lines’ Record-Breaking 2024 Performance? Revenue Soars, Net Profit Hits All-Time High
Publish Time: 2025-03-13 Origin: Site
On March 11, 2025, Wan Hai Lines released its 2024 annual financial report, showcasing remarkable growth in both revenue and net profit. The company achieved a historic high in profitability, solidifying its position as a leading player in the global shipping industry.
Key Financial Highlights
Revenue: NT161.8billion(approximately161.8billion(approximately5.04 billion), a 61.4% year-on-year increase.
Gross Profit: NT56.47billion(56.47billion(1.76 billion).
Operating Profit: NT50.53billion(50.53billion(1.57 billion).
Pre-Tax Profit: NT62.1billion(62.1billion(1.93 billion).
Net Profit: NT47.42billion(47.42billion(1.48 billion), a significant year-on-year rise.
Earnings Per Share (EPS): NT$16.89.
Profitability Metrics
Gross Margin: 34.9%.
Operating Margin: 31.2%.
Fleet Expansion and Modernization
Wan Hai Lines is actively modernizing its fleet to enhance competitiveness. The company is in talks with two South Korean shipyards to convert eight 16,000-TEU methanol dual-fuel vessels to LNG dual-fuel. According to Alphaliner, Wan Hai ranks 11th globally in terms of fleet capacity, operating 110 vessels (108 owned, 2 chartered) with a total capacity of 507,000 TEU. Additionally, the company has 31 newbuilds on order, totaling 331,000 TEU.
Outlook and Strategic Focus
Despite challenges such as supply chain disruptions, Wan Hai remains optimistic about its future. The company plans to maintain operational flexibility, optimize route configurations, and adapt to market changes to drive further growth. With global trade recovery and improving market conditions, Wan Hai is well-positioned to deliver sustained value to shareholders.