CJ Logistics reported on the 13th that its operating profit for the first quarter of this year was 85.4 billion won, a 21.9% decrease compared to the same period last year.
During the same period, sales increased by 2.4% to 2.99 trillion won, while net income fell by 26.1% to 4.1 billion won.
By institutional sector, the operating profit of the parcel and e-commerce (O-NE) sector decreased by 35.9% to 34.3 billion won. Sales also declined by 6.5% to 87.62 billion won.
During the same period, the CL (contract logistics) sector recorded an operating profit of 39.7 billion won, a decrease of 3.9%. Sales increased by 16.7% to 81.35 billion won.
The operating profit of the global institutional sector remained the same as the same period last year at 11.6 billion won. Sales increased by 6.2% to 1.14 trillion won.
CJ Logistics explained that the performance of the O-NE sector reflected a decline in consumer sentiment due to the economic downturn and the initial expenses associated with the implementation of "Daily O-NE."
The CL sector was positively impacted by the expansion of new orders based on logistics consulting and technological capabilities, while the global business achieved growth despite a decrease in forwarding sales, primarily driven by the U.S. and Indian markets.