CJ Logistics Reports Operating Profit of 411.8 Billion KRW Last Year... "Effect of Profit Structure Improvement"

Operating Profit Surpasses 400 Billion KRW Annually for the First Time

[Asia Economy Reporter Hyunseok Yoo] CJ Logistics announced on the 8th that its consolidated sales last year increased by 6.9% year-on-year to 12.1307 trillion KRW, and operating profit rose by 19.7% to 411.8 billion KRW. Operating profit surpassed the 400 billion KRW mark for the first time last year, following the 200 billion KRW range in 2020 and the 300 billion KRW range in 2021.

Sales in the fourth quarter of last year decreased by 1.1% year-on-year to 3.0234 trillion KRW, while operating profit increased by 12.5% to 112.3 billion KRW.

Fourth-quarter sales slightly declined due to a decrease in client shipment volumes caused by the economic downturn. However, shipment volumes recovered thanks to new orders in the parcel delivery and e-commerce businesses, and annual sales increased due to the expansion of global operations.

Operating profit increased both in the fourth quarter and cumulatively for the year through continuous improvement of the profit structure and cost efficiency.

Meanwhile, based on the 2022 performance, CJ Logistics will pay a cash dividend of 500 KRW per share. The total dividend amount is approximately 10 billion KRW.