ARAMEX PJSC

The document is a report from the directors of ARAMEX PJSC and its subsidiaries, presenting the consolidated financial statements for the year ending on 31 December 2023.

On Monday, 5th February 2024, a letter was sent to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, from Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC. The letter informed Mr. Ali that the company's earnings call is scheduled for Tuesday, 13th February 2024 at 3:00 PM UAE time. The purpose of the call is to discuss the financial results of Aramex PJSC for the fourth quarter and the full year ending 31st December 2023.

Aramex PJSC has scheduled a meeting for Thursday, 8 February 2024 at 3:00 PM UAE time. The agenda includes discussion and approval of the audited financial results for the fiscal year ending 31 December 2023, setting a date and agenda for the Annual General Meeting, deciding on dividend distribution for 2023, and discussing company business updates and routine matters. The notice was signed by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC, on Monday, 5 February 2024.

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.