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.