[Edaily Reporter kim mi-kyung ] CJ Freshway Corporation continued its revenue growth in the third quarter of this year, driven by growth in its online food ingredient distribution business and its core institutional food service business. However, while operating profit declined due to factors such as investments to expand its platform business, the transaction volume of its online food ingredient platform “Sikbom” exceeded 100 billion won for the first time on a quarterly basis.

CJ Freshway Corporation(051500)The company announced on the 5th that its consolidated revenue for the third quarter of this year reached 961.4 billion won, a 6.7% increase compared to the same period last year. Gross Merchandise Value (GMV) rose 16.9% to 1.4371 trillion won. In contrast, operating profit fell 29.2% to 23.8 billion won. Net income decreased 4.1% to 22.3 billion won.

By business segment, revenue from the foodservice ingredients and food raw materials distribution business totaled 446 billion won. In particular, online business revenue surged 226.6% year-over-year, demonstrating rapid growth.

The third-quarter transaction volume for the online food ingredient platform “Sikbom” reached 113.5 billion won, surpassing the 100 billion won mark for the first time on a quarterly basis. Analysts attribute this expansion in transaction volume to strategies that strengthened product assortment and logistics services. The number of items eligible for consolidated delivery more than doubled year-over-year, and the average purchase amount per store also increased by 14.3%. The company stated that this growth was supported by efforts to strengthen the competitiveness of its online-to-offline (O2O) business, which combines nationwide logistics infrastructure with its platform.

In the food ingredients segment, revenue rose 15.7% year-over-year, driven by expanded sales of core products such as dairy products. In the foodservice ingredients segment, revenue grew by 9.4% as distribution volumes to both new and existing franchise clients increased.

Revenue from the food service business totaled 509.3 billion won. The institutional food service segment saw a 6.3% year-over-year increase, driven primarily by company cafeterias and hospitals. Revenue from “FreshMeal On,” a kitchenless model that provides meal services without location constraints, also rose by 52.5%. In the food service ingredient distribution segment, the kids’ and school channels continued to show growth.

CJ Freshway Corporation plans to continue growing its online business in the fourth quarter by strengthening Sikbom’s product competitiveness and logistics services while expanding its customer and vendor base. In the food service business, the company aims to solidify its profit base through a profitability-focused portfolio restructuring and operational efficiency improvements.

Lim Seong-cheol, Chief Financial Officer (CFO) of CJ Freshway Corporation, stated, “Just six months after acquiring Sikbom, our third-quarter online sales exceeded 100 billion won, confirming the growth trend in the online food ingredient distribution market.” He added, “We will accelerate the growth of our online business by enhancing CRM-based marketing activities and strengthening product competitiveness and logistics services.” He continued, “The results of our company-wide efforts to improve profitability will become visible starting next year,” adding, “In addition to our online business, we will continue to improve operational efficiency in our existing businesses, including Kitchenless.”