J&T Express Reports 15.9% Revenue Growth and Returns to Profitability in 2024
J&T Express announced significant financial improvements for the fiscal year 2024, marking a strategic turnaround from previous losses. The logistics company reported a 15.9% year-over-year increase in revenue, reaching $10.26 billion, driven by a substantial 31% surge in total parcel volume to 24.65 billion packages. Core express delivery revenue grew by 23.4% to $9.98 billion. Notably, J&T Express achieved a net profit of $110 million in 2024, reversing the $1.16 billion net loss recorded in 2023. The adjusted net profit stood at $200 million, surpassing market expectations, while adjusted EBITDA soared by 430.5% to $780 million. Regional performance was strong, with China’s adjusted EBIT turning positive at $150 million compared to a $240 million loss the prior year. Southeast Asian operations saw a 48.9% rise in adjusted EBIT to $300 million. Meanwhile, losses in new markets like Saudi Arabia and the UAE narrowed significantly to $76.47 million from $110 million in 2023. This financial report highlights J&T Express's successful operational efficiency improvements and expanding global footprint.
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J&T Express Reports 15.9% Revenue Growth and Returns to Profitability in 2024
J&T Express announced significant financial improvements for the fiscal year 2024, marking a strategic turnaround from previous losses. The logistics company reported a 15.9% year-over-year increase in revenue, reaching $10.26 billion, driven by a substantial 31% surge in total parcel volume to 24.65 billion packages. Core express delivery revenue grew by 23.4% to $9.98 billion. Notably, J&T Express achieved a net profit of $110 million in 2024, reversing the $1.16 billion net loss recorded in 2023. The adjusted net profit stood at $200 million, surpassing market expectations, while adjusted EBITDA soared by 430.5% to $780 million. Regional performance was strong, with China’s adjusted EBIT turning positive at $150 million compared to a $240 million loss the prior year. Southeast Asian operations saw a 48.9% rise in adjusted EBIT to $300 million. Meanwhile, losses in new markets like Saudi Arabia and the UAE narrowed significantly to $76.47 million from $110 million in 2023. This financial report highlights J&T Express's successful operational efficiency improvements and expanding global footprint.
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