J&T Express, a leading global logistics service provider, reports exceptional growth and profitability in 2023, marked by significant revenue increases, improved operational efficiency, and enhanced financial stability.
22 March 2024 – J&T Global Express Limited (“J&T Express” or “the Company”, stock code: 01519), a renowned global logistics service provider, proudly announces its stellar performance for the fiscal year 2023. Despite challenges posed by the dynamic market landscape, J&T Express achieved remarkable growth, expanded its market presence, and demonstrated significant improvements in operational efficiency and financial stability.
Operating across 13 countries spanning Southeast Asia, China, the Middle East, North Africa, and Latin America, J&T Express experienced impressive advancements in market share and revenues. Notably, the Company secured the top position in parcel volume for the fourth consecutive year in Southeast Asia, while also witnessing substantial growth in China and New Markets. The fiscal year 2023 saw J&T Express achieve a substantial year-on-year revenue increase of approximately 22%, reaching US$8.85 billion, with a total parcel volume of 18.8 billion.
In addition to robust revenue growth, J&T Express showcased commendable improvements in operational efficiency and profitability. The Company achieved a positive full-year gross profit of US$473 million for the first time, along with positive adjusted EBITDA, marking a significant milestone in its operational history. Furthermore, the Company’s adjusted net loss narrowed by 71% to US$432 million, reflecting enhanced financial stability. J&T Express also generated positive cash flow from operating activities, totaling US$342 million, and maintained a strong liquidity position with cash and cash equivalents amounting to US$1,483 million as of December 31, 2023.
Steven Fan, Executive President of J&T Express, emphasized the Company’s commitment to innovation and customer-centricity amidst evolving market dynamics. He highlighted the pivotal role of e-commerce development in driving J&T Express’s growth and reiterated the Company’s dedication to delivering value to customers, shareholders, and society.
Dylan Tey, Chief Financial Officer of J&T Express, expressed optimism about the Company’s future prospects and outlined strategic initiatives to capitalize on the burgeoning e-commerce landscape. He emphasized the importance of targeted market strategies and technological innovation in maximizing growth opportunities and delivering robust shareholder value.
With a steadfast commitment to excellence and innovation, J&T Express is well-positioned for continued success and growth in the global logistics industry.
