Kurly announced on the 11th that it recorded sales of 578.7 billion won and operating profit of 1.3 billion won for the second quarter of this year. Sales increased by 7.4% compared to the same period last year, marking a return to profitability.
The cumulative results for the first half of the year showed sales of 1.1595 trillion won and operating profit of 3.1 billion won. Sales increased by 7.6% compared to the same period last year, marking a return to profitability. Kurly has maintained profitability for two consecutive quarters since returning to profitability in the first quarter of this year.
The first half's earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled 16.1 billion won, reflecting a 106.8% increase compared to the same period last year. During the same period, the total transaction volume (GMV) increased by 13.6% to 1.7062 trillion won.
Kurly explained, "Stable growth in key businesses such as food and beauty, entry into new businesses, and expansion of the early morning delivery service have played significant roles in achieving profitability for two consecutive quarters." The transaction volume in the food category, which is Kurly's main business sector, increased by 11.5% during the first half of the year. Beauty Kurly also maintained steady growth due to continued demand for luxury and indie brands.
Among new businesses, the transaction volume of seller-delivered products (3P), including fulfillment services (FBK), increased by 59.4%. It was analyzed that product diversification and strengthening competitiveness in the FBK business focused on fashion and kitchen items were effective. To enhance FBK competitiveness, Kurly established a new '3PL cold center' in Ansan, Gyeonggi Province, earlier this month.
Last year, Kurly significantly expanded its early morning delivery areas, resulting in an increase in new customers. Starting in February of last year, Kurly launched early morning delivery services in 11 new regions, including Gyeongju, Pohang, Yeosu, Suncheon, Gwangyang, and Gwangju. In July, it opened a next-day delivery service in Jeju.
Starting from the second half of this year, Kurly plans to fully implement its company-wide AX transformation (AI Transformation). To this end, it established the AX Center organization in July to lead the planning of new businesses based on AI. The AX Center will be a department that leads the adoption and utilization of AI technology within the organization and plans to promote innovation in work methods and service value.
Kim Jong-hoon, Chief Financial Officer (CFO) of Kurly, said, "As a result of focusing on strengthening core businesses and discovering new businesses in the first half of the year, we were able to achieve substantial results, including profitability for two consecutive quarters and our first half-year profitability." He added, "As the sales growth rate is accelerating while maintaining operating profit, we plan to do our best in the second half of the year so that the current trend can further expand."