11st Achieves Record High Sales Last Year... Deficit Narrowed

865.5 Billion KRW in Sales Last Year, Up 10%
Operating Loss of 125.8 Billion KRW... Down 17%

11st recorded its highest ever sales revenue last year. Operating losses also decreased compared to the previous year.

SK Square announced on the 23rd through a public disclosure that 11st's annual sales revenue last year reached 865.5 billion KRW, an increase of 76.5 billion KRW (10%) compared to the previous year (789 billion KRW). This marks a record high sales revenue following 2022. The cumulative annual operating loss recorded 125.8 billion KRW, a decrease of 25.7 billion KRW (-17%) compared to last year (151.5 billion KRW).

11st's sales revenue in the fourth quarter of last year was 263.5 billion KRW, with an operating loss of 34.8 billion KRW. Although sales revenue decreased compared to the same period last year, the scale of operating loss was reduced by 24% year-on-year. The quarterly operating loss ratio was 13.2%, the lowest since Q2 2021 (2023 annual operating loss ratio 14.5%, Q2 2021 10.1%). 11st explained, "Improving profitability is our top priority to turn profitable by 2025," adding, "This is the result of efforts to reduce quarterly losses based on efficient cost control."

Jeon An-jeong, CEO of 11st, stated, “With continuous efforts to improve profitability, we are confident that we will become a profitable company by 2025, two years from now,” and added, “We will focus all our capabilities on securing solid fundamentals to overcome market changes and fierce competition, and on developing competitiveness faithful to the essence of commerce for sustainable growth, so that 11st will be valued higher than it is now.”

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