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CJ CheilJedang reports 361.8-billion-won net income for 2024, down 35.3 percent from previous year

Published: 10 Feb. 2025, 17:43 Updated: 10 Feb. 2025, 18:34

CHO YONG-JUN
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CJ CheilJedang

CJ CheilJedang on Monday reported its 2024 net income of 361.8 billion won ($249.3 million), down 35.3 percent from a year earlier.

Operating income for the year was 1.55 trillion won, up 20.2 percent on-year, the company said in a regulatory filing. Annual revenue rose 1.2 percent to 29.35 trillion won.

The company's fourth-quarter net loss of 152.8 billion won, shifting from a profit of 151.9 billion won a year earlier.

CJ CheilJedang's operating profit rose 26.5 percent to 377.3 billion won in the fourth quarter from 298.2 billion won a year ago.

Operating income for the October-December period was 377.3 billion won, up 26.5 percent from a year ago, the company said in a regulatory filing. Revenue rose 2.8 percent to 7.49 trillion won.

"One-off losses deriving from evaluation of the company's tangible and intangible assets were factored in the quarterly net result," a company spokesperson said by phone.

The company didn't elaborate on the one-off factors.

Yonhap