CJ OliveNetworks Achieves Record First-Quarter Sales... Targets 1 Trillion Won by 2026

CJ OliveNetworks announced on the 16th that its sales for the first quarter of this year reached 167.8 billion KRW, a 15.4% increase compared to the same period last year. This is the highest sales recorded for a first quarter. Operating profit grew by about 30% to 7.7 billion KRW.

Among the first quarter results, sales from external business orders amounted to 46.6 billion KRW, an increase of more than 40% compared to the same period last year. CJ OliveNetworks expects to exceed its 2024 target of 740 billion KRW in sales and 56 billion KRW in operating profit.

One of CJ OliveNetworks' new growth engines, the smart factory (intelligent factory), provides specialized comprehensive services in the food and beverage and bio sectors based on know-how accumulated through IT service development and operation for group companies.

It is also reported that system integration (SI) in the broadcasting media sector is progressing smoothly. CJ OliveNetworks has carried out more than 250 successful internal and external broadcasting media SI projects over the past five years, the largest number in the industry. The company evaluated that in the first quarter of this year, continuous demand from broadcasters, government agencies, and companies led to the successful completion of projects such as upgrading broadcasting production platforms and infrastructure and building content production studios. Sales from these projects are expected to expand in the second quarter as well.

CJ OliveNetworks plans to focus on generating results in core businesses based on artificial intelligence (AI), big data, and cloud, and aims to achieve sales of 1 trillion KRW and a corporate value of 1 trillion KRW by 2026 through profitability-centered management, including cost structure improvement and operational efficiency.

Yoo In-sang, CEO of CJ OliveNetworks, said, "Despite the difficult internal and external environment continuing since last year, the first quarter of this year was a period focused on securing business competitiveness and improving profitability through selection and concentration to achieve steady growth in both sales and operating profit." He added, "In the second quarter, we will continue profitability-centered management by solidifying the differentiation of our core businesses and strengthening our robust organizational structure."

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