CJ Logistics announced on the 8th that its consolidated revenue for the second quarter of this year was provisionally tallied at 3.0484 trillion won, a 0.4% decrease compared to the same period last year. During the same period, operating profit declined by 8.1% to 115.2 billion won.
By business segment, the O-NE business recorded revenue of 907.6 billion won and operating profit of 45.8 billion won in the second quarter of this year. Both revenue and operating profit decreased due to weakened consumer sentiment caused by the economic downturn and costs related to stabilizing the operation of 'Maeil O-NE' (Everyday O-NE). However, the company noted that from June, parcel volume turned to year-on-year growth, and profitability in e-commerce fulfillment improved, so the effects of 'Maeil O-NE' are expected to gradually become more visible in the second half of the year.
The Contract Logistics (CL) segment posted revenue of 833.4 billion won, up 13.1% from the same period last year, driven by continued expansion of new orders based on logistics consolidation by product group. As a result of enhancing cost competitiveness through the advancement of productivity innovation projects, operating profit increased by 5.4% year-on-year to 44.9 billion won.
The global segment's revenue decreased to 1.1027 trillion won compared to the previous year, but operating profit rose by 11.9% to 20.7 billion won. Although trade-related revenue declined due to uncertainties in the global trade environment, profitability improved thanks to strong performance in the strategic market of India and growth in the cross-border e-commerce (CBE) business.
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