Teleport, the logistics venture of Capital A, has seen a better outlook backed by its mission to build a stronger infrastructure connecting Southeast Asia. The logistics firm had delivered a strong first quarter with a 58 percent year-on-year (YoY) revenue growth mainly attributed to investment in a freighter-like network, and a continued focus on e-commerce delivery.
“With the return of travel and belly capacity in passenger planes in Southeast Asia, Teleport is ready to accelerate operating the fastest and most accessible logistics infrastructure in Southeast Asia ” it said.
Teleport CEO Pete Chareonwongsak said the reopening of international borders along with the return of passenger flights would allow the company to demonstrate fully its operating model at scale.
Chareonwongsak said this was already evident in the increase of revenue via belly capacity.
Its delivery volumes grew 60 percent quarter-on-quarter (QoQ), which allowed the company to reach profitability in cross-border delivery in March.
“With the fast-shifting delivery expectations centered around speed and experience – we are determined to continuously push ourselves to be ahead of the curve.
“The time is right for us to now double down on our mission to connect more of Southeast Asia, and to do it faster than anyone else,” he said.
For 2021, Teleport grew its revenue of RM147 million by 58 percent YoY, mainly attributed to investment in a freighter-like network, and a continued focus on e-commerce delivery. The company’s tonnage rose 31 percent from the first quarter (Q1) 2021.
Similarly, cargo yields inclined from RM4.46 to RM5.21 per kg or up by 17 percent, despite the negative impact of China lockdowns
Meanwhile, Teleport’s delivery volume rocketed 451 percent YoY and 60 percent QoQ to 945,000 e-commerce orders in 1Q22 from key customers such as Zalora and DHL eCommerce Cross-border delivery reached profitability in March.
“Delivery is the main engine for growth with recurring revenue growth from large delivery customers across four markets expected to materialise from June onwards,” it said.