CJ Logistics, Q3 Operating Profit 105.3 Billion KRW…Up 13.8% YoY

Increase in Major Overseas Hub Cargo Volume
Growth in E-commerce Orders and Handled Volume

[Asia Economy Reporter Dongwoo Lee] CJ Logistics announced on the 8th that its consolidated financial statements showed sales of 2.8465 trillion KRW in the third quarter, up 2.6% year-on-year, and operating profit of 105.3 billion KRW, an increase of 13.8% during the same period.

The company analyzed that sales increased due to a rise in cargo volume caused by deferred demand at major hubs such as the United States, India, and Vietnam, following the revitalization of the global economy and easing of lockdowns.

It added that the increase was also driven by growth in port cargo volume centered on finished vehicles, expansion of e-commerce orders and handled volume, and the realization of contract unit prices for parcel delivery corporate clients.

Operating profit was attributed to increased domestic and international cargo volume, as well as de-marketing of loss-making parcel customers and the realization of contract unit prices for corporate clients.

CJ Logistics stated, "We plan to accelerate the strengthening of digital logistics capabilities through TES technology acquisition, including field automation based on new technology introduction, operation optimization based on AI and big data platforms, and acceleration of DT (digital transformation)."

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