CJ Logistics has released its financial results for the year ending December 31, 2021, reporting revenues of KRW*11,343.7bn, a year-on-year (y-o-y) increase of 5.2%. The company reported a gross profit of KRW1,063.3bn, an increase of 6.2% in comparison to 2020. Operating profit also grew by 5.7% to KRW343.9bn. Net profit was up 11.0% y-o-y to KRW158.3bn.
In Q4 2021, sales totalled KRW3,057.3bn, up 7.6% year-on-year. The company reported a gross profit of KRW288.9, up 9.5% y-o-y. Operating profit also grew by 9.9% to KRW99.8bn. Net profit totalled KRW50.7bn, up 6.7% y-o-y. The company said it managed to achieve those results on the back of global volume and profitability-oriented management.
Parcel and e-commerce
Parcel revenues for Q4 2021 were KRW978.2bn, an increase of 13.7% y-o-y. e-commerce (fulfilment and new last-mile delivery) volume increased 127.9% y-o-y. Parcel volume increased 7.4% y-o-y to 3.34bn.
Contract Logistics
In Q4 2021, the Contract Logistics division reported operating profit of KRW26.2bn, a decrease of KRW1.9bn y-o-y. Revenues increased 4.0% q-o-q to KRW691.6bn. The company reported increase in Fast-moving Consumer Goods volume during the year-end peak season and expansion to its customer base for example, to Direct-to-Consumer and pharma customers.
Global
The company experienced volume recovery due to resumption of operations in major countries. Cross-border e-commerce volume totalled 5m boxes during the quarter.
USA revenues increased 10.4% q-o-q to KRW284.2bn, India revenues increased 13.8% q-o-q to KRW156.9bn and Vietnam revenues increased 38.4% q-o-q to KRW53bn.
Source: CJ Logistics
*$=KRW1,145 / €=KRW1,354
