‘CJ Korea Express announced on the 10th that its operating profit for the first quarter of this year reached 109.4 billion won, a 10.4% increase from the same period last year. The first quarter revenue was 2.9214 trillion won, up by 4%, and the net profit increased by 14.5% to 55.4 billion won.
According to CJ Korea Express, sales in all business sectors including parcel delivery, contract logistics, and global business increased, and the operating profit also rose due to logistics operational efficiency.
By business segment, sales and operating profit for the parcel delivery and e-commerce business increased by 2.9% and 8.5% respectively from the previous year’s first quarter, reaching 937.0 billion won and 53.5 billion won. This growth is attributed to the expansion of overseas direct purchase and volume in fashion and beauty, as well as the effect of attracting large e-commerce platforms and seller customers. CJ Korea Express handles 80% of the domestic parcel volume for the Chinese direct purchase platform ‘AliExpress.’
CJ Korea Express explained that despite the initial costs related to new fulfillment centers, the operating profit increased due to growth in high-profit customer-focused volume and efficiency improvements in delivery networks.
In the corporate logistics sector, first quarter sales and operating profit increased by 2.6% and 18% to 696.8 billion won and 41.3 billion won respectively. The results are analyzed to be influenced by orders for customized logistics consulting and productivity innovation projects based on automation and data management.
Global business revenue amounted to 1.763 trillion won, a 3.9% increase driven by expanding specialized logistics in forwarding. Revenue in the construction sector increased by 16.4% to 211.3 billion won.’