Kurly Records First Monthly EBITDA Profit Nine Years After Establishment

EBITDA Increased by 10 Billion KRW YoY in December Last Year
Cash Assets Rose by 12 Billion KRW to 140 Billion KRW
Accumulated Operating Loss in Q3 Last Year Decreased by 36%

Kurly announced on the 23rd that its EBITDA, or earnings before interest, taxes, depreciation, and amortization, recorded a profit in December last year. This marks the first monthly profit achieved in nine years since the company's establishment in January 2015.

The monthly EBITDA profit increased by approximately 10 billion KRW compared to December of the previous year, reflecting balanced improvements in revenue, costs, and other profit and loss indicators, according to the company.

This monthly EBITDA profit can be interpreted as Kurly beginning to generate cash through its operating activities. In fact, at the end of last year, Kurly held about 140 billion KRW in cash equivalents, an increase of around 12 billion KRW from 128 billion KRW at the end of the third quarter. This indicates a structure where investments and operations in new businesses are possible with cash generated internally.

Kurly's cumulative operating loss up to the third quarter of last year decreased by 35.5% compared to the same period in 2022. Despite temporary additional expenses incurred until stabilization due to the opening of two new logistics centers in Changwon and Pyeongtaek in the second and third quarters and the closure of existing logistics centers, the company succeeded in significantly reducing operating losses. Even considering the costs invested in logistics centers, Kurly's financial structure showed gradual improvement toward the second half of last year.

A Kurly representative said, "In December last year, the total transaction amount grew by 5% compared to the same month in 2022, achieving the dual goals of revenue growth and profitability improvement." He added, "Building on the momentum of achieving a profit in December, we plan to accelerate efforts to achieve even greater improvements this year."

This content was produced with the assistance of AI translation services.