Press releases, Reports & Disclosures for ARAMEX PJSC

On 13th December 2023, Aramex PJSC held a board meeting from 3:00 PM to 4:40 PM UAE time. All nine board members were present, achieving a 100% quorum. The board discussed the company's business updates and other routine matters. The meeting was signed off by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

In Q3 2023, Aramex reported a revenue of AED 1.35 billion, a 5% YoY decrease, and a gross profit of AED 335 million, a 4% YoY increase. Excluding foreign exchange impact, revenue decline was 2% and gross profit growth was 8%. The GCC region was the major contributor to the group's revenues, accounting for 40% of total revenues and reporting a 21% YoY growth in its gross profit. The company's gross profit margin increased to 25% and EBITDA margin remained stable at 10%. EBITDA reached AED 134 million, a 5% YoY decrease. The company's net income declined to AED 9.6 million, largely due to increased interest rates following the MyUS acquisition. However, Aramex's International Express segment saw a 4% YoY increase in revenue.

The text refers to the unaudited condensed interim consolidated financial information for ARAMEX PJSC and its subsidiaries for the nine-month period ending on 30th September 2023.

Aramex, a leading global logistics and transportation solutions provider, reported a resilient performance in H1 2023 despite challenging market conditions. The company's revenue was AED 2.8 billion, a 5% YoY decline. The Gross Profit Margin remained steady at 25% in both H1 and Q2 2023. The company's effective cost management is evident in a 12% decline in SG&A expenses in Q2 2023. Net income was AED 42.8 million in H1 2023, a significant decrease compared to AED 91.9 million in H1 2022, due to increased financial expenses and a softening topline. Despite challenging trends in International Express volumes, the company's domestic volumes were resilient. The GCC accounted for 39% of total revenues, reporting a 3% growth in Gross Profit in Q2 2023.