Press releases, Reports & Disclosures for ARAMEX PJSC

On Wednesday, November 27, 2024, Aramex PJSC held a meeting attended by eight board members, achieving an 89% quorum. The meeting, which took place from 3:45 PM to 5:30 PM UAE time, focused on discussing the company's business updates and routine matters. The meeting results were documented by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

Aramex PJSC, a listed company, has scheduled a meeting for Wednesday, 27 November 2024, at 3:00 PM UAE time. The agenda includes a discussion on the company's business updates and routine matters. Amanda Dahdah, the Governance Officer and Board Secretary, is the authorized signatory for this meeting.

Aramex reported strong financial results for the third quarter of 2024, with an 18% year-on-year increase in revenue to AED 1.59 billion. For the first nine months of 2024, revenue rose by 11% to AED 4.63 billion, driven by growth across all product lines: International Express (10% YoY), Domestic Express (27% YoY), Freight Forwarding (22% YoY), and Logistics & Supply Chain Solutions (13% YoY). The company saw consistent volume growth, with International Express volumes up 34% and Domestic Express volumes up 18%. Gross profit for Q3 rose 11% YoY to AED 373 million, though the gross profit margin decreased to 23%. Aramex projects a full-year revenue growth of approximately 9% and expects gross profit margins to remain between 24% and 25%. The company maintains a strong balance sheet with a cash position of AED 447 million and a Net Debt-to-EBITDA ratio of 2.1x. Net profit for Q3 increased by 177% YoY to AED 26.7 million.

On Thursday, November 7, 2024, Aramex PJSC held a board meeting from 3:00 PM to 5:40 PM UAE time, with all nine board members present, achieving a 100% quorum. The meeting focused on approving the company's unaudited interim condensed consolidated financial statements for the third quarter and the first nine months ending September 30, 2024. Additionally, the board discussed the company's business updates and routine matters. The meeting results were documented by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

The document is the unaudited interim condensed consolidated financial statements for Aramex PJSC and its subsidiaries, covering the period ending on September 30, 2024.

The Dubai Financial Market has been informed of an upcoming earnings call for Aramex PJSC, scheduled for Monday, November 11, 2024, at 3:00 PM UAE time. The meeting will discuss the company's financial results for the third quarter, which ended on September 30, 2024. The notice was sent by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

Aramex PJSC has scheduled a meeting for Thursday, November 7, 2024, at 3:00 PM UAE Time. The agenda includes the approval of the company's unaudited interim condensed consolidated financial statements for the third quarter and the first nine months ending September 30, 2024. Additionally, the meeting will cover business updates and routine matters. The notice is signed by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.

Aramex, a global logistics and transportation solutions provider, has formed a joint venture with ZK Holding, an investment company in Abu Dhabi, to enhance logistics and courier services in Iraq. This partnership aims to offer integrated services such as domestic and international courier, freight forwarding, and contract logistics, supporting both local and international businesses. By leveraging ZK Holding's extensive network of over 7,000 points of sale across Iraq, Aramex plans to expand its operations to more than 15 cities, facilitating smoother logistics. The joint venture is set to begin operations in the first quarter of 2025, targeting corporate and retail customers and aiming to unlock new trade lanes and markets. The collaboration comes as Iraq's e-commerce market is projected to grow significantly, and it seeks to create a robust logistics ecosystem to tap into this potential.

Aramex reported double-digit net profit growth in the first half of 2024, despite seasonal challenges. The company saw significant year-over-year volume growth in both International Express (32%) and Domestic Express (5%), expanded its customer base, and maintained service levels. Freight Forwarding grew in volumes despite increased rates and competition, while Logistics onboarded new customers, replacing legacy accounts. Revenue grew by 8% year-over-year for both H1 and Q2 2024, driven by new customer wins and volume growth. The company managed costs effectively, maintaining a stable SG&A-to-revenue ratio of 20%, an improvement of 0.7 percentage points over H1 2023. Gross profit increased by 5% year-over-year with a gross profit margin of 24%, and net profit rose by 15% year-over-year, driven by a 20% growth in EBIT and an improved EBIT margin. For the full year 2024, Aramex expects to sustain growth across key product lines, with estimated group revenue growth of 8% to 9% and a gross profit margin of 24% to 25%. The company plans to continue strategic investments in infrastructure and talent. Aramex's balance sheet remains strong with a cash position of AED 457 million and a Net Debt-to-EBITDA ratio of 0.9x as of June 30, 2024. The company's return on invested capital improved by 40 basis points to 5.2% for H1 2024. Financial highlights for Q2 and H1 2024 include: - Q2 2024 revenues: AED 1,496,254 (up 8% YoY) - H1 2024 revenues: AED 3,036,955 (up 8% YoY) - Q2 2024 gross profit: AED 345,131 (no change YoY) - H1 2024 gross profit: AED 740,532 (up 5% YoY) - Q2 2024 EBIT: AED 46,962 (down 11% YoY) - H1 2024 EBIT: AED 139,369 (up 20% YoY) - Q2 2024 EBITDA: AED 134,930 (down 6% YoY) - H1 2024 EBITDA: AED 316,104 (up 7% YoY) - Q2 2024 net profit: AED 2,893 (down 85% YoY) - H1 2024 net profit: AED 49,458 (up 15% YoY)

Aramex PJSC and its subsidiaries have released their unaudited interim condensed consolidated financial statements for the period ending 30 June 2024.