Retail tech corporations Kurly said on the 4th that it posted 2.3671 trillion won in revenue and 13.1 billion won in operating profit last year. Revenue rose 7.8% from a year earlier, and operating profit swung to a surplus.
The total gross merchandise value (GMV) last year came to 3.534 trillion won, up 13.5% from a year earlier. Revenue, operating profit, and GMV all hit all-time highs.
The company said the first annual operating profit was driven by steady growth in its core businesses such as fresh food and by portfolio diversification through new businesses. It said it achieved both external expansion and qualitative growth through a fundamental improvement of its revenue structure.
On the diversification front, fulfillment by Kurly (FBK) and seller-shipped items (3P) delivered strong results. The 3P transaction value, including FBK, rose 54.9% in a year. Kurly N Mart, launched with Naver, also contributed to overall GMV growth, with average monthly transaction value increasing more than 50% every month since its launch in Sep. last year.
As of the end of last year, Kurly's monthly active users increased by more than 30% from a year earlier. Valid Kurly Members subscribers also grew every month, reaching about 1.4 million.
Kim Jong-hun, chief financial officer (CFO) of Kurly, said, "This first annual surplus is meaningful in that structural innovation established a business model where revenue growth translates directly into profit expansion," adding, "Based on a proven revenue model, we will accelerate the stable market settlement of new businesses and the enhancement of future value as we have secured sustainable growth drivers."