Dubai-based transport and logistics company, Aramex, has announced its Q1 financial results for 2022.
The company reported a revenue of €379,318, 2 per cent higher than the year prior.
Net profit in Q1 rose by 3 per cent to €12,383, with an EBITDA margin of 11.7 per cent, just below the company’s 2021 Q1 figure.
Aramex CEO, Othman Aljeda, said the figures demonstrate a positive outcome of the company’s first quarter.
“Aramex is off to a strong start in 2022,” he said. “We produced a solid financial and business performance as we continue to execute on our ambitious growth strategy delivered through our recently redesigned and more focused operating model.”
Aramex reported an operating profit margin of 5.2 per cent, which Aljeda said can be attributed to the company’s decision to boost contribution to their revenue mix.
“Notably, we are starting to see a stabilization in our profitability margins,” he said. “This is predominantly attributed to the strategic decision to boost contribution from the Freight-Forwarding and Logistics Business to our revenue mix.”
Aljeda said the company will continue to serve its customers to the best of its ability despite increasing cost inflationary pressures, ongoing supply chain disruptions and pandemic-induced lockdowns in Asia.
“We remain agile and competitive to ensure we continue to grow and defend our market share across the business while delivering exceptional service to all our customers,” he said.
In other news, Aramex has announced the opening of a new branch in Laâyoune area, further growing the company’s footprint in Morocco.
The expansion follows Aramex’s plans to expand its presence and branch network to address the increasing demand from B2B and B2C customers for faster and more reliable delivery solutions.
Aramex Vice President, Hussam Al-Baraqouni, said with Morocco’s logistics and transportation industry developing at such a fast pace, the expansion highlights Aramex’s reliability and commitment to its customers.
“The launch of this new branch reaffirms our commitment to the Moroccan market and marks an important milestone as we strengthen our market position in North Africa by expanding and ramping up operations in a key market,” he said. “We will continue to invest in more branches and facilities in the Kingdom and leverage its strategic geographic location and infrastructure to serve a wider customer base.”