'50 Trillion Won Barrier Blocked by Data Leak' – Coupang, Inc. Posts Record 49 Trillion Won in Revenue Last Year (Overall)

[Financial News] Coupang, Inc. generated record-high revenue of about 49 trillion won last year.
According to the earnings report that Coupang, Inc., which is listed on the New York Stock Exchange (NYSE), filed with the United States Securities and Exchange Commission (SEC) on the 27th, last year’s revenue came to approximately 49.1197 trillion won (34.534 billion dollars), up 14% from the previous year’s 30.268 billion dollars.
These figures are based on the average won–dollar exchange rate for the fourth quarter of last year.
Annual revenue, however, fell just short of the 50 trillion won threshold.
Operating profit for last year was about 679 billion won (473 million dollars), an 8% increase from a year earlier, marking the third consecutive year since 2022 that it has stayed in the 600 billion won range. The annual operating margin declined from the previous year to around 1.38%. Net profit came to 303 billion won (214 million dollars), more than triple the prior year’s 94 billion won (66 million dollars).
On a quarterly basis, however, growth momentum weakened.
Fourth-quarter revenue last year was approximately 12.8103 trillion won (8.835 billion dollars), up 11% from the same period a year earlier but down 5% from the previous quarter’s 9.267 billion dollars.
Fourth-quarter operating profit was about 11.5 billion won (8 million dollars), a sharp 97% drop from 312 million dollars a year earlier. Net income also swung to a loss, with a net loss of 37.7 billion won (26 million dollars) recorded for the quarter.
This downturn appears to have been affected by the personal data breach that occurred at the end of the year.
Coupang, Inc. assessed that the incident had a negative impact from December on last year’s revenue growth rate, number of active customers, Coupang Wow Membership, and overall profitability. In fact, the number of active customers in the fourth quarter stood at 24.6 million, down 100,000 from the previous quarter.
By business segment, revenue from Product Commerce, Coupang, Inc.’s core shopping service that includes Rocket Delivery, grew 11% year-on-year.
Meanwhile, revenue from its growth businesses, including operations in Taiwan and Coupang Eats, grouped under its Developing Offerings segment, increased 38% from a year earlier, driving top-line expansion.
However, the Developing Offerings segment posted an annual adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of 995 million dollars, a 58% increase from the previous year, indicating that the company is continuing aggressive investment.
Coupang, Inc. also announced that last year it repurchased 5.9 million Class A common shares as treasury stock, worth 162 million dollars.
clean@fnnews.com Lee Jeong-hwa Reporter