TAIPEI (Taiwan News) — Evergreen Marine announced on Tuesday generous year-end bonuses equivalent to two years of salary. 

The company is reportedly giving an average year-end bonus equivalent to 20 months of salary, per UDN. In addition, employees will receive an additional three-month bonus.

Evergreen Marine's earnings per share (EPS) for the first three quarters reached NT$50.68 (US$1.54). Based on the three quarters' profit and a profit-sharing percentage of 0.5%, each employee will receive an additional NT$190,000 after the annual shareholder meeting next year. 

For an NT$60,000 monthly salary, this equates to an extra 3.1 months' pay. If fourth-quarter profits are tighter than expected, the bonus size could rise to four months.

In the third quarter of 2024, Evergreen Marine reported consolidated net profit after tax of NT$61.913 billion, a year-on-year increase of 182.60%, with an EPS of NT$28.75. For the first three quarters, net profit after tax totaled NT$108.754 billion, a year-on-year increase of 239.40%, with a gross margin of 39% and an EPS of NT$50.68.

Evergreen Marine's outstanding profitability in 2024 is predicted to continue. With current freight rates, the ongoing Red Sea crisis, and a looming strike on the US East Coast in January, the company’s revenue and profits for the first quarter of next year are expected to keep rising.