J&T Express reports 15.9% revenue growth in 2024, turns profit

J&T Express reports 15.9% revenue growth in 2024, turns profit. Credit: J&T Express

J&T Express reported a 15.9% year-over-year revenue increase to $10.26 billion. The company’s total parcel volume surged 31% to 24.65 billion packages. Revenue from its core express delivery business reached $9.98 billion, up 23.4% from the previous year. J&T Express achieved a net profit of $110 million in 2024, reversing its 2023 net loss of $1.16 billion. Adjusted net profit stood at $200 million, exceeding market expectations. The company’s adjusted EBITDA soared 430.5% to $780 million, while adjusted EBIT turned positive at $300 million. For the first time, J&T’s adjusted EBIT in China was positive at $150 million, compared to a $240 million loss in 2023. In the Southeast Asian market, its adjusted EBIT rose 48.9% year-over-year to $300 million. J&T’s new markets, including Saudi Arabia and the UAE, recorded an adjusted EBIT loss of $76.47 million in 2024, narrowing from a $110 million loss the year before. [iThome, in Chinese]