J&T Global Express Limited has announced its Annual Results 2024. J&T’s full-year revenue reached US$ 10.26bn, representing a year-over-year (YoY) increase of 15.9%. In 2024, J&T’s total parcel volume increased by 31% YoY to 24.65bn. Revenue from its core business express delivery services was US$ 9.98bn, a YoY increase of 23.4%.
In 2024, the adjusted EBIT of all operating regions achieved significant growth or improvement. In China, the adjusted EBIT turned positive for the first time, reaching US$ 150mn, compared to an adjusted EBIT loss of US$ 240mn in 2023.
Sustainable growth
“We have maintained our leading position in SEA, with encouraging revenue and profitability maintaining steady and sustainable growth. We believe that the Company’s first-mover advantages and high-quality services in SEA can further enhance our market share in the region,” stated Dylan Tey, Chief Financial Officer, J&T Express.
J&T’s revenue in China reached US$ 6.39bn in 2024, an increase of approximately 22.2% YoY. Adjusted EBITDA was US$ 430mn, and adjusted EBIT turned profitable, recording approximately US$ 150mn, primarily due to a significant decrease in the cost per parcel.
“Looking forward to the future, J&T will continue to increase investment in research and development, providing more convenient, efficient and intelligent services to meet customers’ demand for high-quality express delivery services,” remarked Charles Hou, Group Vice President, J&T Express.
