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Aramex reported stable revenues of AED 1.56 billion for Q1 2025, marking a 1% increase year-on-year. This growth was supported by gains in Domestic Express (up 13%), Freight Forwarding (up 9%), and Logistics (up 21%), which compensated for a 13% decline in International Express. The shift towards nearshoring has led to a change in product mix, with more volumes in short-haul regional and domestic services. Domestic express volumes rose by 8%, land freight LTL by 21%, and land freight FTL by 4%, while warehousing operated near full capacity. Despite these changes, the gross profit margin decreased to 23.3% from 25.7% in Q1 2024, affected by cost inflation and increased direct costs. SG&A expenses rose by 1% year-on-year, representing 20% of total revenues. Aramex maintained a strong financial position with a cash balance of AED 545 million and a Debt to EBITDA ratio of 2.9x. The company also launched "Accelerate28," a transformation initiative aimed at improving pricing and operational efficiencies by reorganizing its geographic activities from eight regions to four.
Aramex PJSC and its subsidiaries have released their unaudited interim condensed consolidated financial statements as of March 31, 2025.
On May 7, 2025, Aramex PJSC held a board meeting with all nine members present, achieving a 100% quorum. The meeting involved the approval of the company's unaudited interim condensed consolidated financial statements for the first quarter ending March 31, 2025. Additionally, Ms. Lubna Tareq Ata Shebli was appointed as Acting Chief Financial Officer, effective immediately, to maintain proper segregation of duties and continuity in financial oversight. This follows the appointment of Mr. Nicolas Sibuet as Acting Chief Executive Officer. The meeting also included discussions on business updates and routine matters. The proceedings were documented by Amanda Dahdah, the Governance Officer and Board Secretary for Aramex PJSC.
GFH Financial Group B.S.C. announced that it has purchased 708,706 treasury shares, increasing its total treasury shares from 206,148,397 (5.38% of total issued shares) to 206,857,103 (5.40% of total issued shares) as of May 7, 2025. The decision to purchase was made at a board meeting on March 24, 2024, with regulatory approval received on February 16, 2025. The average purchase price was 0.2900 USD per share, and 176,402,280 shares remain available for purchase. The announcement was made by Mariam Jowhary, Head of Compliance & AML.