Expects revenue growth of 9% with a stable gross margin of 24% to 25% in FY2024. International and Domestic Express Segments recorded double-digit growth in volume in 3Q24 due to higher consumer activity, strong regional demand in addition trends to nearshoring and local warehousing.

Total Revenue grew 7.7% YOY reaching at AED 1,496 Mn in 2Q24.

International shipping volume recorded the highest quarterly volume of 7.8 Mn shipments in 1Q24.

International shipping volume recorded the highest quarterly volume of 7.6 Mn shipments in 4Q23.

Aramex’s profitability continued to get impacted during 3Q23, primarily due to a decline in revenue across all the segments resulting from currency devaluation.

All segments of Aramex recorded a decline in turnover by 8% YOY to USD 378 Mn in 2Q23.

Aramex PJSC (Aramex/the Company) net profit declined 49.4% YOY to AED 24 Mn in 1Q23, lower than our estimate of AED 47 Mn. The net profit is impacted due to a mix of factors including currency devaluation in some markets, higher interest expense due to the acquisition of MyUS, and softness in topline flowing to the bottom line partially offset by a decline in cost of revenue and lower in come tax expense.

Aramex PJSC (Aramex/the Company) net profit from continuing operation rose 15.0% YOY to AED 37 Mn in 3Q22, slightly higher than our estimate of AED 39 Mn.

Aramex PJSC (Aramex/the Company) net profit declined 32.0% YOY to AED 45 Mn in 2Q22, lower than our estimate of AED 59 Mn. The decline in net profit was primarily due to a lower courier vol ume and devaluation of Lebanese and Egyptian Pound which is par tially offset by an increase in freight forwarding and logistics reve nue.