Dimerco Express Corporation (5609) today announced the consolidated financial report of Y2023 Consolidated sales revenue of Y2023 is NTD 22,042 million and consolidated net income after tax is NTD 1,023 million. Earnings per share is NTD 7.24.
Compared to the previous fiscal year, which saw particularly unusual market conditions due to the pandemic, there were reductions of 46.5%, 59.7%, and 61.3% in various aspects. However, compared to the pre-pandemic fiscal year of 2019, there were increases of 23.8%, 153.6%, and 126.3% in revenue, net income after tax, and earnings per share, respectively.
The Board of Directors (BOD) approved the earnings distribution proposal of Y2023’s net profit as follows to distribute cash dividend NTD 6 per share. Calculated based on today’s closing price of NTD 89.1, the cash dividend yield reaches 6.7%. The BOD will set an ex-dividend date for the distribution of cash dividends.
After the end of the pandemic in the fiscal year of 2023, the international economic outlook remained challenging, posing significant challenges to the international transportation market. However, due to Dimerco’s global network of forwarding and logistics locations and our cloud-based SCM international logistics service platform with clear market positioning and effective digital marketing to attract customers, Dimerco has been able to deliver solid results.
In anticipation of market changes, Dimerco has leveraged digital marketing to create value, further enhancing its operational profitability. Excluding the extraordinary market conditions during the pandemic period, the fiscal year of 2023 saw significant improvements in revenue, net income after tax, and earnings per share compared to the pre-pandemic fiscal year of 2019, increasing by 23.8%, 153.6%, and 126.3%, respectively.
In addition to strengthening operational profitability, Dimerco has emphasized customer quality, been carefully selecting high-quality customers and effectively controlling accounts receivable. With excellent financial management capabilities, the company is committed to maintaining a sound financial structure. By the end of the fiscal year of 2023, the current ratio stood at 2.7, significantly higher than the industry average. With cash reserves of NTD 4.78 billion at year-end, compared to bank borrowings of NTD 180 million and shareholder equity or net worth of NTD 5.94 billion, the company demonstrates exceptional liquidity and debt repayment capabilities.
Furthermore, fixed assets accounted for only 9.2% of shareholder equity or net worth, demonstrating the flexibility and elasticity of a low-asset logistics service provider. The total liabilities amounted to only 33.1% of total assets, indicating a very healthy and robust financial structure.
After the ISO 14064-1:2018 verification at the end of 2022 and declaration of commitment to green supply chain and carbon reduction goals to reduce the carbon footprint, Dimerco has taken further steps in 2023. Implemented the EcoTransIT World system certified by the international organization Smart Freight Centre (SFC), Dimerco utilizes this system to calculate carbon emissions for air, sea, and land transportation, aligning with the Global Logistics Emissions Council (GLEC) framework and meeting the requirements of the GHG Protocol (corporate standards). Besides, in this January, Dimerco has aligned ESG goals with Cathay’s vision on its Corporate Sustainable Aviation Fuel (SAF) Programme, to support the earth with practical action on reduction of greenhouse gas emissions associated with aviation.
Dimerco is dedicated to technological and digital transformation, elevating the level of Information Security Management (ISM). The implementation of the latest ISM and protection framework ensures that information security measures align with the development of digital transformation. Continuous improvement of management and operational processes is undertaken to address the ever-changing external environmental threats. With the development on Digital Platform and Cloud Networking SCM Platform of Dimerco Value Plus System®, flatter organization and ISO 27001:2022 Cyber Security Certification (BSI Certification N0. IS 743553) by BSI, Dimerco internally upgrades digital capability to strengthen operation & management efficiency and cost-effective solutions for our customers with mobility via application of Robotic Process Automation (RPA).
Externally, Dimerco upgrades online services and integrates off-line & online services via its upgraded MyDimerco platform and POMS (Purchase Order Management System) to further enhance customer services. The services include not only the coordination of purchase orders between customers and their suppliers, supplier performance management, product management, and logistics cost analysis but also online booking of cargo space and online customer support, through various channels, regardless of when or where they need assistance.
Looking to the future, through promotion with digital marketing and clear market positioning from brick-and-mortar to online platform, Dimerco enhances not only on supply chain value to customers and business development but also on additional benefits and productivity to worldwide network via application of Semi-Automation during its Digital Transformation to meet our customers’ needs and achieve our business goals.
Spokesperson: Jack Ruan +886 921-062500 / +8862 2796-3660#222
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