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eCargo Holdings - 2023 Full Year Financial Results

29 February 2024 (SYDNEY): eCargo Holdings Limited (ASX: ECG) (ECG, eCargo or the Group) today announced its financial results for the 12 months ended 31 December 2023 (FY23).

-- Achieved record revenue of HK$188.2 million, a 50% increase, driven by the success of eCargo’s B2B supply chain platform, Flow

-- Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of HK$9.2 million, up 14%, reflecting improved efficiency in the business driven by proprietary supply chain technology

-- Statutory NPAT up 5% to HK$4.74 million (FY22: HK$4.72 million)

-- Well-positioned to continue connecting in-demand brands with Chinese consumers, through a comprehensive omnichannel strategy, expansive distribution network and efficient end-to-end supply chain solution

-- Strong balance sheet in place to self-fund operations and further grow profitability

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