Logistics provider J&T Express announced its first annual profit for 2024, driven by a 15.9% increase in revenue, totaling US$10.26 billion.

The company also reported a 31% year-over-year growth in parcel volume, delivering 24.65 billion parcels.

J&T Express also recorded a net profit of US$110 million, recovering from a net loss of US$1.16 billion in 2023.

Adjusted net profit was approximately US$200 million, while adjusted EBITDA surged by 430.5% to US$780 million. Adjusted EBIT reached US$300 million.

In the Southeast Asian market, J&T Express strengthened its leading position, increasing its market share to 28.6%, up 3.2 percentage points from the previous year.

Parcel volume in the region grew by 40.8% year-over-year to 4.56 billion. Revenue from the region reached US$3.22 billion, an increase of 22.3%. Its adjusted EBIT rose 48.9% to US$300 million.

In China, parcel volume increased by 29.1% year-over-year, totaling 19.8 billion, while market share in China rose to 11.3%. Revenue from the Chinese market reached US$6.39 billion, and adjusted EBIT turned positive at US$150 million.

Expansion into new markets, such as Saudi Arabia and the United Arab Emirates, also supported J&T Express’s growth.

Parcel volume in these regions grew by 22.1% year-over-year to 280 million. Revenue increased by 76.1% to US$580 million. Adjusted EBIT losses in these markets narrowed to US$76.465 million, down from US$110 million in 2023.

By the end of 2024, J&T Express operated 238 sorting centers and over 11,900 line-haul vehicles globally.

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