Cash on delivery service of LBC Express.
LBC Express Holdings, Inc. closed 2024 on a steady note, underscoring the company’s resilience amid ongoing market shifts, according to its year-end audited financial statements. As it gears up to celebrate its 75th anniversary in 2025, LBC remains steadfast in its mission to serve Filipino communities across the globe.
With operations spanning 29 countries, LBC continues to evolve in response to changing demands from both retail and enterprise clients. The company’s broad reach and trusted logistics and money services remain central to its value proposition.
By the end of December 2024, LBC reported ₱14.30 billion in service revenues—a slight dip from ₱14.51 billion in 2023—reflecting persistent challenges within the logistics industry. Retail logistics continued to be the company’s main revenue source, generating ₱10.24 billion and accounting for 74% of total revenues. This includes courier, air cargo, and balikbayan box services. Meanwhile, the growing corporate logistics segment brought in ₱3.56 billion or 25% of revenues, through freight forwarding, e-commerce solutions, and business services.
Domestic operations led the way with ₱8.65 billion in revenues, comprising 61% of the total, while international operations contributed ₱5.64 billion, or 39%. These figures reinforce LBC’s global footprint and consistent performance both locally and abroad.
In response to market conditions, LBC prioritized operational efficiency to maintain profitability. The company successfully brought down the cost of services from ₱11.47 billion in 2023 to ₱11.17 billion, helping drive a 3% increase in gross profit to ₱3.12 billion from the previous year’s ₱3.05 billion.
Jerome S. Santos, LBC’s SVP for Corporate Solutions, at LBC’s Shipper’s Night.
Net income from operations after tax—excluding non-cash valuation effects—rose sharply to ₱416.64 million, up 45% from ₱286.91 million in 2023. This strong bottom-line performance reflects the company’s effective cost controls and strategic focus on core operations.
LBC also continued enhancing the customer experience throughout 2024, supported by infrastructure upgrades and technological innovations. The launch of the ‘LBC Central Exchange Facility’ in August 2023 improved operational efficiency and bolstered nationwide delivery capabilities.
Delivering on its promise of reliable service, LBC achieved a 99.6% sorting accuracy rate and a 93% on-time delivery rate. Customer service remained a top priority, with 95% of inquiries resolved within 24 hours—underscoring LBC’s commitment to putting customers first.
In response to the growing needs of e-commerce businesses and digital-savvy consumers, LBC introduced ‘LBC Rush’ in 2024. This service offers 1 to 2 day express delivery between Metro Manila and key areas in the Visayas and Mindanao, positioning the company to meet rising expectations for speed and convenience.
Looking ahead, LBC continues to push for innovation, aiming to help Filipino businesses scale more efficiently by integrating logistics with e-commerce platforms while ensuring services remain cost-effective and accessible to all.
As the company enters its 75th year in 2025, it remains focused on technology investments, enhanced customer experience, and productivity improvements. These efforts support LBC’s core promise: delivering accessible, reliable, and efficient logistics and financial services to Filipinos both at home and abroad.
“We remain committed to enhancing our operational efficiency and profitability, as we adapt to the evolving needs of our customers,” said Enrique V. Rey, Jr., Chief Finance Officer of LBC Express Holdings, Inc. “Our focus on innovation, coupled with a deep understanding of the market, positions LBC for continued success as we move forward.”
Looking for a trusted long-term logistics partner? Boost your business with LBC Express’ Business Solutions today. For more information, visit the official LBC Express website or follow them on Instagram and Facebook for the latest updates.