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J&T Express reports 15.9% revenue growth in 2024, turns profit
J&T Express reported a 15.9% revenue growth to $10.26 billion in 2024, along with a net profit of $110 million, recovering from a loss of $1.16 billion in 2023. The company saw significant parcel volume growth and improved profitability across its Chinese and Southeast Asian operations, despite losses in new markets like Saudi Arabia and the UAE.
Key points
- J&T Express revenue increased by 15.9% year-over-year to $10.26 billion.
- Total parcel volume rose 31% to 24.65 billion packages.
- Revenue from core express delivery grew by 23.4% to $9.98 billion.
- Net profit was $110 million, reversing a 2023 loss of $1.16 billion.
- Adjusted net profit reached $200 million, exceeding market expectations.
- Adjusted EBITDA skyrocketed by 430.5% to $780 million.
- Adjusted EBIT turned positive at $300 million, with $150 million in China.
- Southeast Asian adjusted EBIT increased by 48.9% to $300 million.
- New markets like Saudi Arabia and UAE recorded an adjusted EBIT loss of $76.47 million, improved from a loss of $110 million in 2023.
Why it matters
- The logistics and delivery sector is experiencing a significant shift towards e-commerce, reflecting broader IT trends driven by digitization and pandemic changes.
- Growth in e-commerce delivery services directly correlates to trends in 2024, indicating a heightened demand for efficient logistics solutions.
- Improvement in profit margins highlights industry resilience and adaptability, relevant to the anticipated digital transformation in business logistics by 2025.
J&T Express's strong financial recovery in 2024 signifies its strategic success in addressing market demands and operational efficiency, setting a hopeful precedent for future growth amid evolving global logistics and e-commerce landscapes.