Dimerco Express Corporation (5609) today announced that its Board of Directors approved the Company’s consolidated financial results for the first quarter of 2026, reviewed by external auditors. First-quarter consolidated revenue totaled NT$7.126 billion, down 0.9% year-over-year. Net income after tax increased 1.8% to NT$234 million, while earnings per share (EPS) rose 1.8% to NT$1.66.
Despite continued pressure on freight rates, rising geopolitical risks, and ongoing adjustments to U.S. trade and tariff policies, Dimerco maintained profit growth as shipments tied to high-tech and AI-related industries continued to expand. Growing demand for diversified supply chain strategies, combined with the Company’s global operating network and digital capabilities, also supported overall performance.
Air and Ocean Volumes Increased as Customers Diversified Supply Chain Strategies
During the first quarter, Dimerco’s overall shipment volumes continued to grow. Air freight volume increased approximately 20% year-over-year, while ocean freight volume rose nearly 10%, supported by stable customer demand.
The increase reflects continued shifts toward China+1 strategies, regional manufacturing diversification, and multi-location sourcing models, driving greater demand for cross-regional logistics, flexible transportation solutions, and more resilient supply chain configurations.
Overall, Dimerco maintained shipment growth and operational stability despite lower freight rates compared to the prior year, heightened geopolitical uncertainty in the Middle East, and evolving U.S. tariff policies. Stable customer demand, the Company’s global service network, diversified transportation capabilities, and digital supply chain solutions continued to support performance entering the remainder of 2026.
Strong Financial Structure Reflects Asset-Light Business Model
In addition to strengthening operational performance and profitability, Dimerco continues to emphasize customer quality and disciplined accounts receivable management to maintain a healthy financial structure.
As of the end of March 2026, the Company’s current ratio stood at 2.23, significantly above typical industry levels, reflecting strong liquidity and debt-servicing capability. Fixed assets represented only 9.0% of shareholders’ equity, underscoring the flexibility and operational agility of Dimerco’s asset-light logistics model. Total liabilities accounted for 41.1% of total assets, reflecting a stable balance sheet structure.
Geopolitical and Tariff Policy Changes Drive Supply Chain Reconfiguration and Compliance Demand
Global logistics markets in the first quarter of 2026 continued to be shaped by geopolitical developments, trade policy adjustments, and ongoing supply chain restructuring. While market conditions remained challenging, customers continued investing in supply chain resilience, multi-modal transportation strategies, and regional supply chain diversification.
In the air freight market, export demand from Asia to the United States and Europe remained stable compared to the prior year. High-tech, semiconductor, and AI infrastructure-related supply chains remained key growth drivers. As these sectors expand, customers are placing greater emphasis on transit reliability, supply chain visibility, and cross-regional coordination capabilities.
At the same time, freight rates remained under pressure as global capacity gradually normalized and e-commerce shipment growth moderated. Escalating tensions in the Middle East also led some airlines to reroute flights to avoid affected airspace, increasing transit times and fuel costs. Airlines subsequently adjusted fuel surcharges and flight allocations, raising overall logistics costs.
Some customers have also begun reconfiguring transportation strategies through Sea-Air solutions, rail alternatives, and regional transshipment hubs to better balance cost, transit time, and supply chain risk.
In the ocean freight market, trans-Pacific demand remained relatively cautious. Ocean carriers continued managing capacity and pricing to maintain supply-demand balance and stabilize freight rates. Meanwhile, tensions in the Middle East and potential risks involving the Strait of Hormuz heightened concerns over global energy supply and shipping lane stability.
Congestion across major Asian transshipment hubs — including Singapore, Malaysia, India, and Sri Lanka — also added pressure to schedule reliability and transit times.
Meanwhile, continued changes in U.S. trade and tariff regulations — including developments related to IEEPA duty refund mechanisms and the implementation of new Section 232 tariff rules — increased customer demand for product classification, tariff applicability analysis, trade compliance, and supply chain configuration support.
As a result, customer requirements are increasingly evolving beyond traditional transportation execution toward integrated supply chain solutions that combine tariff management, supply chain restructuring, and regional manufacturing strategy support.
Strengthening Global Network and Digital Capabilities to Capture Long-Term Supply Chain Opportunities
As market conditions continue evolving rapidly, Dimerco is further strengthening its global operating network, multi-modal transportation solutions, and digital capabilities. The Company continues integrating AI, automation systems, and supply chain management expertise to help customers respond more effectively to changing capacity conditions, logistics costs, and trade policies while improving supply chain visibility, resilience, and operational efficiency.
Dimerco believes ongoing global supply chain restructuring, continued AI industry expansion, and rising demand for geopolitical and tariff risk mitigation will continue driving long-term demand for cross-regional logistics, diversified supply chain configurations, and integrated supply chain management solutions. These structural shifts are expected to favor logistics providers with global networks, digital capabilities, and deep expertise in high-tech supply chains.
Spokesperson: Jack Ruan +886 921-062500 / +8862 2796-3660#222
Find out more on Financial Overview