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Aramex 2019 Revenue Grows to AED 5.2 billion

E-commerce spurs strong growth in Express shipment volumes while business transformation efforts continue to drive operational efficiencies 

  • Full Year 2019 Revenue hit AED 5,246 million, up 3% vs FY 2018; and Q4 2019 Revenue up 3% to AED 1,463 million
  • Full Year 2019 Net Profit increased by 1% to AED 497.4 million vs. 2018; while Q4 2019 Net Profit was down 1% at AED 152.5 million vs. Q4 2018
  • In 2019, Express shipment volumes surged 15% vs. 2018 as a result of the strong growth in global e-commerce activities
  • Revenue growth and margins continue to be impacted by e-commerce pricing pressure

  • Dubai, UAE – Monday, 10th February 2020:
    Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, today announced its financial results for the Fourth Quarter and Full Year ending 31 December 2019.

    Full Year 2019 Revenue increased by 3% to AED 5,246 million, compared to AED 5,086 million in FY 2018. FY 2019 Net Profit increased 1% to AED 497.4 million, compared to AED 492.6 million made in the year ago period.

    Aramex’s Q4 2019 Revenue grew by 3% to AED 1,463 million, compared to AED 1,425 million in Q4 2018. Q4 Net Profit dropped slightly by 1% to AED 152.5 million, compared to AED 154 million in the year ago period. In Q4 2018, Aramex registered a one-off impairment of AED 46 million from the divestment of Aramex Global Solutions (AGS).

    The Company remains in a very strong cash position thanks to prudent financial management; at the end of 2019, Aramex’s total cash stood at AED 1 billion and free cash flow of AED 294 million.

    Commenting on the results, Bashar Obeid, Chief Executive Officer of Aramex, said: “We are pleased with our resilient performance despite headwinds emanating from regional and global economic challenges and pricing pressure on our core business prompted by shifting e-commerce dynamics.

    In 2019, we strategically focused efforts on upgrading our operations and deepening our commitment to building a digital infrastructure that enables a higher service level to customers, more efficient processes to handle strong growth in shipment volumes and partial mitigation of impacts from pricing pressure, especially in our express business. More specifically, we invested heavily in the last mile operations, one of the most critical and competitive stages of the delivery journey. This has enabled us to become the leaders in last mile in our core markets.

    Simultaneously, we are fast tracking our commercial transformation process to encourage accelerated growth in our B2B business lines such as fashion retail, telecommunications, manufacturing, chemicals and healthcare, which will help us diversify our revenue mix. To extract more value from that business we are undergoing a restructuring of our commercial teams and processes, and expect it to increase its contribution to our performance in the coming quarters.”

    Q4 2019 Business Performance Highlights:

    Aramex's International Express business declined 4% to AED 673 million, compared to AED 702 million in Q4 2018. This decline is attributed to the continued pressure on pricing for e-commerce business in Aramex’s Asian markets, especially China and Hong Kong, despite the growth in volumes. E-commerce business from other markets including the UK and USA witnessed double-digit growth compared to the year ago period.

    Domestic Express surged 20%, to AED 324 million, compared to AED 270 million in Q4 2018. The significant growth in this business line is attributed to the double-digit growth in core markets, notably from Saudi Arabia, Egypt and UAE. Excluding India restructuring and impact from exchange rate fluctuations, Domestic Express growth would have reached 26%.

    Freight-Forwarding witnessed flat growth of AED 294 million, from AED 293 million in Q4 2018. Meanwhile, Aramex’s Oil and Gas business registered healthy growth. Aramex continued to diversify across different geographies and strategic sector verticals, mainly fashion retail, manufacturing and healthcare, setting the foundation for a steady projected growth over the long term.

    Aramex’s Logistics and Supply Chain Management business grew by 15% to AED 97 million, compared to AED 84 million in Q4 2018, as a result of the growth of business across the company’s key markets, especially in the UAE and Saudi Arabia. The increase is driven by more traditional retailers choosing to tap omni-channel sales to compete with pure-play e-commerce companies.

    Iyad Kamal, Chief Operating Officer at Aramex, said: “Over the course of the year we have invested in strategic ground infrastructure projects specifically in our core markets with the ultimate objective of boosting operational efficiencies and enhancing the overall customer experience. Our efforts, together with the continuous commitment and dedication of our passionate teams around the world, have enabled us to handle growth of 30% in shipment volumes in our core markets efficiently with an improvement in delivery times. Those investments included the establishment of new fulfillment facilities, increasing the number of Aramex PickUp and Drop Off (PUDO) points to be closer to end recipients, and introducing more automation in our operational and back office processes.”

    Commenting on Aramex’s digital transformation Mohammed Sleeq, Chief Digital Officer at Aramex, said: “In 2019, we have invested in several digital technologies with a strategic focus on enhancing customer experience, last mile transformation and modernizing our core technology infrastructure. These investments helped reshape our digital identity to increase agility and speed innovation and efficiency across all business lines. Our data lake, which hosts a big data infrastructure that leverages machine learning and artificial intelligence capabilities, allows us to digitize the end-to-end customer experience and solve some of the industry challenges. We also introduced Aramex Fleet and Spot, innovative solutions together forming a zero-asset tech-driven model that supports our capacity scalability efforts and solve last mile challenges, especially around peak periods. We will continue to invest in latest technologies that allow us to accelerate our digital transformation journey, improve service level to customers and realize higher efficiencies.”

    Full Year 2019 Business Performance Highlights:

    Aramex's International Express business grew by 3% to AED 2,349 million, compared to AED 2,273 million in 2018, most notably coming from USA, UK, Singapore and Saudi Arabia.

    In FY 2019 Domestic Express business grew by 5% to AED 1,108 million, compared to AED 1,051 million in 2018, driven by the rise in domestic e-commerce across GCC and Australia. Performance was impacted by the strategic restructuring of operations in India and currency fluctuations; excluding these two factors, Domestic Express would have grown by 13% in 2019. In Aramex’s core markets, Domestic Express shipment volumes rose by 27% compared to 2018, namely driven by strong growth in Saudi Arabia and Egypt.

    Aramex's Freight-Forwarding business declined by 2% to AED 1,138 million, compared to AED 1,164 million in 2018 due to continued regional economic uncertainty.

    Logistics and Supply Chain Management operations over the year increased 18% to AED 355 million, compared to AED 302 million in 2018, due to the strong demand from traditional retailers for Aramex’s warehousing and other value-added services across key markets.

    Commenting on the outlook for 2020, Bashar Obeid said: “While we anticipate shipment volumes to continue to demonstrate healthy growth in the coming year, notably from our core markets, pricing pressure on e-commerce business is expected to continue over the coming period. Our efforts in 2020 will be focused on accelerating our business transformation roadmap across different areas in the company to realize synergies and lower cost of doing business on the ground. We will also continue our aggressive roll-out of the commercial restructuring process prioritizing the B2B segment, to ensure we have a well-diversified revenue mix.”


    Aramex Launches Aramex Spot, Expanding Delivery Options in KSA and UAE

    • Aramex partners with retail outlets to support last mile delivery
    • Aramex Spot launches in multiple locations across KSA and UAE
    • The collaborative option is part of Aramex’s strategy to digitize operations and grow its Pick-Up and Drop-Off (PUDO) network

    Dubai, UAE/ Riyadh, KSA – Sunday, 17th November 2019:
    Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, today announces the launch of its latest last mile delivery solution, Aramex Spot, across Saudi Arabia and the United Arab Emirates. As part of its efforts to enhance customer service and to accommodate the growing demand for more Pick-Up options, Aramex has partnered with commercial locations to utilize their outlets as convenient PUDO locations for its customers shipments.

    The rollout of Aramex Spot comes as part of the company’s commitment to strengthen its last mile capabilities while remaining committed to its asset light structure. This is built on the back of the growing customer expectations within the e-Commerce industry.

    Aramex has already partnered up with commercial locations and expects to grow to 150 Spot locations across KSA and the UAE by the end of 2020. Interested locations can sign up to join the Spot network by visiting our website on:

    Commenting on the launch, Iyad Kamal, Chief Operating Officer of Aramex, said: “This latest addition to our last mile delivery solutions will allow the end recipient to conveniently Pick-Up their shipments from a nearby supermarket, pharmacy or other commercial outlets. We believe this is incredibly important and is in line with our strategy to increase operational efficiency while enhancing customer experience through innovative solutions. As for the Spot locations, they will benefit from the compensation they will receive per shipment and the increased footfall our customers will drive to their locations.”

    Mohammed Sleeq, Chief Digital Officer of Aramex, added:“We are excited to launch Aramex Spot given the growing consumer expectations within our domain. This brings us closer to our customers whilst creating a marketplace for the commercial community in our core markets. With this proprietary tech comes our industry track record; we are well positioned and confident of introducing a robust PUDO network. Aramex Spot joins Aramex Fleet, our crowdsourcing delivery arm, together forming a zero-asset tech driven platform that supports our capacity scalability efforts on the last mile.”

    The debut of Aramex Spot follows Aramex’s successful launch of Aramex Fleet in December 2018 and WhatsApp for Business in October 2018, which collectively, are efforts to enhance customer experience, digitize and simplify the end-to-end shipment journey. 


    Aramex Revenues Grow 2% in Q3 2019

  • Q3 2019 Revenues increased 2% to AED 1,270 million
  • Q3 2019 Net Profit rose 1% to AED 113.8 million
  • Domestic Express volumes rose 29% in core markets, and International Express volumes grew by 13%
  • Revenue growth and profitability were impacted by pricing pressure on e-commerce business and continued investments to upgrade last mile delivery operations

  • Dubai, UAE – Wednesday, 30th October 2019:
    Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, today announces its financial results for the third quarter ended 30 September 2019.

    Aramex’s Q3 2019 Revenues grew by 2% to AED 1,270 million, compared to AED 1,239 million in the corresponding period a year ago. Revenues would have grown by 5% excluding the company’s strategic restructuring of its operations in India and currency fluctuations. Despite the 13% growth of International Express volumes over the quarter, Revenue growth was lower than expected due to tighter yields on e-commerce business as a result of pricing pressure. Revenues for the nine-month period ending September 30th 2019 increased by 3% to AED 3,782 million, compared to AED 3,661 million in the corresponding period of 2018.

    Net Profit registered a 1% increase in Q3 2019 to AED 113.8 million, compared to AED 112.9 million in Q3 2018, due to tighter yields and pricing pressure from the cross-border e-commerce business, as well as the implementation of IFRS16. Excluding IFRS16 impact, Net Profit would have grown by 7% over the quarter. Net Profit for the nine-month period ending September 30th 2019 increased by 2% to AED 344.9 million compared to AED 338.6 million in the prior year period. Excluding an IFRS16 impact of AED 21.3 million, Aramex’s Net Profit would have grown by 8% over the nine-month period.

    Commenting on the results, Bashar Obeid, Chief Executive Officer of Aramex, said: “We are pleased to see strong growth in Aramex’s e-commerce volumes despite pricing pressure witnessed across the e-commerce industry. As we expect the low-margin environment to continue over the next quarter, we will remain focused on improving service levels on the ground to prioritize quality across the delivery journey; and optimizing costs throughout the business to build further resilience. We believe that business transformation and cost optimization are becoming necessary than ever to compensate for the continued investments in upgrading our last mile delivery operations, as well as the pricing pressure on e-commerce business.

    “We remain confident in the strategic direction we have taken to maintain and support the growth of our e-commerce business across the region. This opportunity is supported by the promising growth of our B2B service lines as a result of efforts to diversify our offerings to new customer segments, while maintaining high levels of service,” added Obeid.

    Iyad Kamal, Chief Operating Officer at Aramex, added: “Over the third quarter, we invested into the growth of the business and into physical capacity on the ground with the ultimate objective of shortening delivery times and improving the overall customer experience. Meanwhile, enhancing the efficiency of our operations through introducing advanced technologies across our first and last mile services remains a key focus to us. This quarter, we embarked on setting up three new facilities in Saudi Arabia in response to increasing shipment volumes into and within the country. We also did a major upgrade in an advanced automation system at our facility in New York to streamline sorting, processing and shipment transit times from North America to the region, which is a growth lane for us. Our innovative new models, such as Aramex Fleet, place us in strong standing to handle the surge in capacity around the upcoming high season.”

    Q3 2019 Performance:
    Revenues from Aramex's cross-border International Express business grew by 3% to AED 556 million. International Express volumes grew by 13% in Q3 2019 on the back of strong demand from USA, China and other Asian markets. While pressure on pricing impacted revenue growth and margins.

    The Domestic Express business registered healthy growth of 6%, reaching AED 271 million. Domestic Express revenue would have grown by 13% excluding the impact of the strategic restructuring in India, as well as currency fluctuations. Domestic Express volumes rose by 29%, due to strong demand in core GCC markets, including Saudi Arabia and the UAE, as well as a shift in e-commerce fulfillment business models from international to domestic, which has increased the demand for Aramex’s domestic last mile delivery services.

    Freight Forwarding dropped by 4% to AED 281 million due to continued regional economic uncertainty.

    Aramex’s Integrated Logistics & Supply Chain Solutions business continued to perform well, with revenues growing by 16% to AED 88 million versus Q3 2018, owed in large part to increased demand from Oil & Gas customers, as well as a rise in the number of traditional retailers tapping into the multi-sales channel model.

    Commenting on Aramex’s outlook for the remainder of 2019, Bashar Obeid said: “As we enter our busiest quarter of the year, we are well prepared to adapt to an expected surge in demand. We expect continued growth in international and domestic e-commerce volumes to support our topline growth over the period. At the same time, pressure on pricing will likely continue to impact revenue growth and profitability for the remainder of the year.

    “Our efforts remain firmly focused on further enhancing last-mile delivery solutions and service improvement to ensure Aramex maintains and grows its market share in the Express business. We will continue to expand segments across our B2B business, in order to maintain a secure and sustainable balance in revenues. We will also explore opportunities for inorganic growth, to bolster our service reach and operational capabilities,” concluded Obeid.