Kurly Q3 Operating Profit KRW 6.1 Billion; Both Operating & Net Profit Swing to Black

Kurly proved its management soundness by achieving an operating profit for three consecutive quarters in Q3 this year. Notably, by turning to a net profit for the first time ever, it firmly laid the foundation for sustainable growth. According to the preliminary results for Q3, Kurly recorded sales of 578.7 billion won, a 4.4% increase compared to the same period last year. Operating profit improved by an impressive 10.5 billion won to 6.1 billion won, and net profit achieved a remarkable 2.3 billion won. The total transaction value (GMV) also increased by 10.3% to 870.5 billion won, indicating a clear overall growth trend. These achievements are thanks to the robust growth of its core businesses and the diversification of its revenue structure through new ventures. Especially impressive is the successful discovery of seasonal products and the increase in transaction value, achieved by strengthening data-driven curation capabilities, even during off-seasons like the holiday period. By major business segment, transaction value in the food category grew by 7.7% due to strong sales of fresh food, while Beauty Kurly steadily drove demand for luxury and indie brands. 'Kurly N Mart', launched in partnership with Naver last September, is also establishing itself as a new growth engine. The core of revenue diversification was Fulfillment by Kurly (FBK) and third-party seller delivered products (3P). 3P transaction value, including FBK, surged by 45.7%, showcasing explosive growth, which is analyzed as the result of enhanced product categories such as fashion, kitchenware, and interior goods, combined with the synergistic competitive strength of FBK services. The expansion of Saetbyeol Delivery (dawn delivery) service areas also played a significant role in driving performance. Following 11 regions including Gyeongju, Pohang, and Yeosu starting last year, in October this year, services expanded to Jeollabuk-do regions including Jeonju, Wanju, and Iksan, effectively securing new customers and increasing order volume. This further raises expectations for additional performance improvements in the future. Kurly plans to continue focusing on strengthening growth through revenue diversification in the remaining Q4. It will further enhance the curation and product competitiveness of its core fresh food and beauty businesses, and new ventures like Kurly N Mart will strive for service quality improvement, competitive differentiation, and new customer acquisition to establish themselves in the market. Furthermore, it plans to actively adopt AI technology to drive innovation in operational efficiency and service value. Kim Jong-hoon, Kurly's Chief Financial Officer (CFO), stated, "The consecutive operating profit and first net profit were achieved through the synergy of core business growth and business diversification." He added, "We will continue to focus on activating and stabilizing new businesses to sustain growth and maximize profits."