CJ (001040) Q4 2024 earnings summary

Executive summary

• 4Q24 consolidated sales rose 9.5% YoY to 11.7tn KRW, with operating profit up 9.9% YoY to 630.1bn KRW.

• Net income turned to a loss of 12.9bn KRW due to a one-off asset impairment.

• Revenue growth was driven by Olive Young's expansion and increased ENM content delivery.

• Profit growth was supported by livestock recovery in F&C and strong logistics performance.

Financial highlights

• Gross profit margin improved to 27.8% in 4Q24 from 27.1% in 4Q23.

• Operating profit margin remained stable at 5.4% YoY.

• Full-year 2024 revenue grew 5.5% YoY to 43.6tn KRW; operating profit up 24.9% YoY to 2.55tn KRW.

• Net profit for 2024 dropped 71.2% YoY to 151.2bn KRW.

Outlook and guidance

• Shareholder return policy targets maintaining or increasing DPS annually, with at least 70% payout of separate FS-based net profit (excluding one-offs) for FY2023–2025.