Chelsea Logistics and Infrastructure Holdings Corp. Recorded a Total Revenue of P7.05 Billion

​Chelsea Logistics and Infrastructure Holdings Corp., the Philippines' leading shipping and logistics company, proudly reports significant financial growth and strategic achievements for the fiscal year ending December 31, 2023. Building on the momentum from 2022, Chelsea Logistics demonstrated resilience and a commitment to innovation in its operations across all segments.

Chelsea Group recorded a total revenue of P7.05 billion, marking a 10% increase from the previous year's P6.43 Billion. This growth was primarily driven by the continued recovery and expansion in its Passage and Freight segments.

This growth generated a Gross Profit of P1.45 Billion, a substantial increase from P791 Million in 2022, reflecting improved operational efficiencies and strategic cost management. Gross margins substantially widened from 12% to 21%, the widest gross margin achieved since the COVID-19 pandemic. This resulted in the Company successfully reducing its Net Loss by 55%, reporting a loss of P1.14 Billion compared to P2.53 Billion in 2022, despite challenges in the broader economic environment.

Chelsea Logistics remains dedicated to sustainability, with continued efforts to reduce its carbon footprint and promote eco-friendly practices across its operations. The Company is exploring renewable energy sources and energy-efficient technologies to enhance environmental stewardship.

Chryss Alfonsus V. Damuy, President & CEO of Chelsea Logistics, stated, "Our 2023 results reflect our unwavering commitment to delivering value to our stakeholders through strategic investments and operational excellence. As we continue to navigate a dynamic business environment, our focus remains on sustainable growth and innovation to meet the evolving needs of our customers."

Ignacia S. Braga IV, Chief Financial Officer, added, "The continued financial progress we have made this year is a testament to our team's dedication and strategic focus. We are optimistic about the future as we continue to strengthen our financial position and pursue opportunities for growth."

Established in 2016, Chelsea Logistics is the fastest-growing shipping and logistics company in the Philippines. As a subsidiary of Udenna Corporation, the company operates across key segments, including Charter, Passage, Freight, Tugboat services, and Logistics. Chelsea Logistics is committed to providing reliable and efficient solutions to meet the transportation and logistics needs of its customers.