On behalf of the Board of Directors, the Chairman, and the management team, we extend our gratitude for your long-term support and participation in the 2024 shareholder’s meeting.
According to KPMG-audited financial statements, Dimerco’s 2023 consolidated sales revenue was NTD 22,042 million, with a net income after tax of NTD 1,023 million and earnings per share of NTD 7.24. Compared to 2022, these figures represent decreases of 46.5%, 59.7%, and 61.3%, respectively. However, compared to the pre-pandemic year of 2019, there were increases of 23.8%, 153.6%, and 126.3%.
After the pandemic ended in 2023, the global logistics market faced significant challenges. However, Dimerco has committed to building both physical channels and virtual digital platforms to enhance competitiveness. With clear market positioning, strategic deployments in key niche markets, and advanced planning based on differentiation and regionalization, our long-established global networks strengths have proven effective. By anticipating market changes and leveraging digital marketing, we have further enhanced our operational profitability. In 2023, our revenue, net income after tax, and earnings per share significantly outperformed the pre-pandemic year of 2019, with increases of 23.8%, 153.6%, and 126.3%, respectively.
In addition to improving operational profitability, Dimerco has focused on quality customers selection and effective accounts receivables management. Demonstrating strong financial management, the company is dedicated to maintaining a sound financial structure. By the end of 2023, our current ratio was 2.7, significantly higher than the industry average, with cash reserves of NTD 4.78 billion and net worth of NTD 5.94 billion, showcasing strong liquidity and debt repayment capabilities. Fixed assets accounted for only 9.2% of net worth, highlighting our flexibility as a light-asset logistics provider. Total liabilities were only 33.1% of total assets, indicating strong financial structure.
After achieving ISO 14064-1:2018 verification in 2022 and committing to green supply chain and carbon reduction goals, Dimerco took further steps in 2023. We implemented the EcoTransIT World system, certified by the Smart Freight Centre (SFC), to calculate carbon emissions for air, sea, and land transport, aligning with the Global Logistics Emissions Council (GLEC) framework and GHG Protocol standards. In January 2024, we partnered with Cathay’s Corporate Sustainable Aviation Fuel (SAF) Program, taking practical actions to reduce aviation-related greenhouse gas emissions and support sustainable development.
Dimerco is dedicated to technological and digital transformation, enhancing information security management. We have adopted the latest frameworks to ensure our security measures are aligned with digital advancements and continuously improve management processes to address evolving threats.
With ISO 27001:2022 Cyber Security Certification (BSI Certification No. IS 743553) and the use of Robotic Process Automation (RPA), Dimerco has upgraded its digital capabilities, enhancing operational and management efficiency. Cloud data analytics provide deep insights into customer needs, allowing us to communicate our values effectively through digital marketing and engage customers via a flatter organizational structure.
Externally, we have upgraded our MyDimerco platform and integrated POMS (Purchase Order Management System), extending our services to include purchase order coordination, supplier performance management, product management, and logistics cost analysis. MyDimerco enhancements also feature online booking and customer support, seamlessly integrating online and offline services.
Amidst US and China trade and power dispute, volatile regional conflicts, environmental instability, and continuous supply chain disruptions, Dimerco’s management team is committed to leveraging our local expertise, strategically placed network, and effective digital logistics platform. This flexibility enables us to navigate and address dynamic challenges to meet our customers’ logistics requirements.
Our goal is to generate profits while continuing to contribute to society and provide reasonable returns for shareholders and dedicated colleagues.
We deeply appreciate your continued support!
Dimerco Express Corporation
Dimerco Express Group
June 6, 2024