J&T Global Express Sees Strong Growth in Southeast Asia Market Share
J&T Global Express Limited (“J&T Express”), a global logistics service provider, announced its Annual Results for 2024, showcasing impressive growth and profitability in key markets. The company’s revenue reached US$10.26 billion, with a significant year-over-year increase of 15.9%. Total parcel volume grew by 31% to 24.65 billion, with revenue from express delivery services reaching US$9.98 billion, a 23.4% increase.
Positive Turnaround and Profitability Metrics
In 2024, J&T Express achieved positive results across all profit metrics, with net profit reaching US$110 million, a marked improvement from the US$1.16 billion loss in 2023. Adjusted net profit exceeded market expectations at approximately US$200 million, while adjusted EBITDA soared by 430.5% to US$780 million. Adjusted EBIT turned positive at US$300 million, reflecting the company’s improving profitability and sustainable growth trajectory.
Regional Growth and Improvement
Operating regions saw significant growth and improvement in adjusted EBIT for 2024. In China, adjusted EBIT turned positive for the first time at US$150 million, compared to a loss of US$240 million in 2023. In Southeast Asia (SEA), adjusted EBIT increased by 48.9% year-over-year to US$300 million. Newer markets like Saudi Arabia and UAE also showed improvement, narrowing the adjusted EBIT loss to US$76.465 million.
Market Share Expansion and Revenue Growth
J&T Express maintained its lead in Southeast Asia for the fifth consecutive year, with market share jumping to 28.6%. Parcel volume in SEA reached 4.56 billion, a 40.8% increase year-over-year. Revenue in the SEA market grew by 22.3% to US$3.22 billion, with adjusted EBITDA reaching US$460 million and adjusted EBIT hitting US$300 million.
China’s Business Success and Market Share Growth
In China, J&T Express achieved full-year profitability for the first time, with parcel volume increasing by 29.1% to 19.8 billion. Revenue in China reached US$6.39 billion, up 22.2% year-over-year. Adjusted EBIT turned profitable at approximately US$150 million, driven by improved service quality and cost efficiencies.
Expanding into New Markets
J&T Express seized growth opportunities in new markets, with parcel volume increasing by 22.1% to 280 million. Revenue in New Markets reached US$580 million, a 76.1% year-over-year increase. The company continued to invest in local express delivery networks and partnerships with cross-border e-commerce platforms to drive growth.
Investing in Technology and Efficiency
J&T Express focused on investing in automated sorting equipment upgrades and exploring AI to improve delivery efficiency. The company’s advanced technology platform and intelligent planning tools enhanced operational efficiency and delivery routes, providing customers with high-quality express delivery services.
Conclusion
J&T Global Express’ strong performance in 2024 demonstrates its commitment to growth, profitability, and technological innovation. With a focus on key markets like Southeast Asia and China, the company has solidified its position as a leading logistics service provider. As J&T continues to invest in research and development, customers can expect more convenient, efficient, and intelligent services in the future. Stay tuned for updates on J&T Express’ continued success and expansion into new markets.
