Kurly Posts First-Ever EBITDA Last Year: Reignites Growth Engine

Market Kurly has finally achieved a landmark performance, recording a positive adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the first time since its founding. According to the announcement of its 2024 business performance, Kurly achieved consolidated revenue of 2.1956 trillion won amidst challenging market conditions, growing by 6% compared to the previous year. Operating loss significantly improved, decreasing by 125.3 billion won to 18.3 billion won, and the long-awaited adjusted EBITDA improved by 121.4 billion won, recording a surplus of 13.7 billion won. Gross Merchandise Volume (GMV) also increased by 12% to 3.1148 trillion won, demonstrating its power by more than doubling the growth rate of domestic online shopping. This proves that Kurly's 'two-track strategy,' which aimed to achieve both 'profitability and growth' simultaneously amidst the challenges of economic recession and consumer contraction, was effective. It was a balanced strategy that shone through, not halting investments for future growth while striving to maintain a cash-flow break-even point. Last year, Kurly further strengthened its core competitiveness in fresh food while boldly expanding its business into non-food areas such as beauty, fashion, and living. Notably, 'Beauty Kurly' surged by 23% year-over-year, continuing its double-digit growth for two consecutive years. 'Kurly Members,' which boosted customer loyalty, was also a crucial success factor. Securing over 1.4 million cumulative subscribers, it achieved the remarkable feat of having member customers account for half of the total transaction volume. In terms of cost reduction, logistics center automation and operational efficiency played a key role. Significant reductions in operating costs were achieved through process improvements and stable operations at logistics centers in Gimpo, Pyeongtaek, Changwon, and other locations. Furthermore, it succeeded in diversifying revenue through expanding delivery areas via 'Kurly-zones' and venturing into new businesses. The Saetbyeol Delivery (dawn delivery) service was expanded to 11 new regions, including Gyeongju, Pohang, Yeosu, Suncheon, Gwangyang, and Gwangju, and the Jeju One-Day Delivery service was launched. The opening of 'Kurly Now' Sangam and Dogok stores, which are quick commerce services, also became new growth engines. A Kurly official emphasized that steady investment and effort have borne fruit even amidst difficult conditions, expressing the ambition to make this year, their 10th anniversary, the first year of Kurly's renewed leap forward, achieving even greater growth. They plan to continue sustainable growth by focusing more on strengthening core businesses and discovering new ventures.