Core Operating Profit Surges in Q3
T.H.I. Holdings(2636) reported Q3 results, with quarterly consolidated revenue of NT$8.735 billion, up 81.98% YoY; operating profit of NT$435 million, up 270.04% YoY; net profit attributable to parent of NT$511 million, up 194.08% YoY, and earnings per share of NT$3.73. Operating profit grew significantly faster than revenue, with operating margin rising to 4.98% from 2.45% a year earlier, up 2.53 percentage points, reflecting expanded operating scale and an improved operating expense ratio, driving stronger core profitability.
9M EPS Reaches NT$7.57
For the first nine months, consolidated revenue totaled NT$20.155 billion, up 25.63% YoY; gross operating profit was NT$3.019 billion, up 17.14% YoY; operating profit was NT$777 million, up 35.52% YoY; net profit attributable to parent was NT$1.036 billion, up 30.32% YoY, with earnings per share of NT$7.57. Operating margin for the first nine months improved to 3.85% from 3.57% a year earlier, with earnings quality improving steadily.
Sea and Air Freight Businesses Grow Together
Sea freight revenue for the first nine months was NT$13.243 billion, up 31.66% YoY; gross operating profit was NT$1.828 billion, up 12.83% YoY. Facing changes in international freight rates and market supply and demand, the group continued to strengthen customer development in key markets, cargo mix and gross margin management, and leveraged its overseas operating network and local service resources to deepen cross-regional logistics services, balancing business growth with earnings quality.
Air freight revenue for the first nine months was NT$5.141 billion, up 23.51% YoY; gross operating profit was NT$808 million, up 39.13% YoY, with gross profit growing faster than revenue. The group continued to deepen customer development among high-tech industries, capturing international logistics demand from AI, semiconductor and electronics supply chains, and strengthened business cooperation between Asian and North American markets to expand high value-added logistics services.
Non-Operating Contributions and Sound Financial Position
Beyond its core logistics business, net non-operating income for the first nine months of 2026 was about NT$503 million, including dividend income of about NT$254 million and net gains on financial assets measured at fair value through profit or loss of about NT$196 million, contributing to overall earnings. The board of directors, in line with its routine annual practice, approved a 2027 authorization for disposal of shipping-related stocks, with an authorized ceiling of NT$5 billion; the authorized amount does not represent the actual disposal amount. As of end-September, total consolidated assets were NT$25.281 billion, equity attributable to parent was NT$10.833 billion, book value per share was NT$79.1, and cash and cash equivalents were NT$8.989 billion.