Dubai-based Aramex announced its financial results for the Q2 and H1 2024. The firm shown an impressive performance in H1 2024 despite seasonal challenges faced by the sector around the globe. Aramex experienced a significant growth in in revenues, EBIT and net profit YoY in H1 2024. A robust 8 per cent YoY increase in revenue for both H1 and Q2 2024, 15 per cent rise in net profit YoY in H1 and 20 per cent growth in EBIT speaks volumes of how Aramex kept providing logistic services globally in extremely challenging conditions. A robust 32 per cent and 5 per cent volume growth for both International and Domestic Express respectively reaffirmed its stronghold in key markets. Overall, Aramex boasts of a strong cash position of AED 457 million and a Net debt-to-EBITDA ratio of 0.9x at the end of the H1 2024. Aramex carries its operations in more than 600 cities across 70 countries, bridging a gap between east and west, for logistic and transportation efficiencies. “We are pleased to report a good performance in the first half of 2024, which underscores our strategic focus on growth. We delivered a healthy revenue growth of 8 per cent YoY and a net profit increase of 15 per cent YoY in H1 2024, despite a challenging Q2 2024,” Othman Aljeda, Chief Executive Officer, Aramex, said.
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