Despite revenue growth in the third quarter, CJ Logistics saw a decline in profits due to factors such as expanded investment.
On the 10th, CJ Logistics disclosed that its provisional Q3 revenue and operating profit were recorded at 335.81 billion won and 110.5 billion won, respectively. Revenue increased by 9.5% year-on-year, while operating profit decreased by 25.3%.
By business segment, the O-NE (delivery) division recorded revenue of 976.5 billion won, a 1.2% increase from the same period last year. Despite a reduction in operating days because the Chuseok holiday, which was included in Q4 last year, shifted to Q3 this year, the segment maintained its growth momentum driven by the expansion of "Everyday O-NE" and the personal delivery service "Bonaene," as well as flexible operations at hub terminals. However, operating profit fell by 39.5% to 38 billion won due to investment costs aimed at strengthening service competitiveness and the decrease in operating days.
Revenue for the Contract Logistics (CL) division rose by 8.3% to 933 billion won. Amidst continued expansion of volume from existing strategic customers, new order results contributed to growth across all major CL businesses, including fulfillment operations and middle-mile transportation. Conversely, operating profit remained at 49.2 billion won, a 10% decrease, due to rising operating costs caused by external adverse factors.
The Global Business division achieved revenue of 116.79 billion won, up 13.1%, based on solid growth in strategic countries such as the United States and India and double-digit increases in cross-border e-commerce (CBE) volume. However, operating profit decreased to 11.8 billion won compared to the same period last year due to prolonged external uncertainty and temporary cost burdens associated with expanding global hubs.
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