21% growth in International and Domestic Express volumes during 2020
Aramex recently announced its financial results for Q4-2020 and Full Year (FY-2020) ending 31 December 2020.
In Q4-2020, revenue increased 13% to AED 1,598mn, compared to AED 1,418mn reported in Q4-2019. For the year, Aramex’s Revenue was AED 5,510mn (US$ 1.5bn), an 9% increase versus FY-2019 and the highest revenue on record, as Covid-19 accelerated e-commerce activities.
“In 2020, Aramex demonstrated its operational resilience and agility to respond swiftly to fast-changing operational conditions thanks to our strong digital infrastructure, robust financial position, experienced management team and the incredibly determined people that were on the ground getting the job done,” affirmed Captain Mohamed Juma Alshamsi, Chairman, Aramex.
, said: “On the commercial front, we were incredibly successful in expanding our services and increasing the number of customers and total volume of shipments handled in the healthcare and FMCG sectors,” commented Bashar Obeid, CEO, Aramex.
Q4-2020 business performance highlights
Aramex’s International Express business jumped 18% to AED 796mn, compared to AED 673mn in Q4-2019. The increase is predominately driven by growth in e-commerce from USA, Europe and Asia origins into the GCC.
Domestic Express surged 19%, to AED 387mn, compared to AED 324mn in Q4-2019. A surge in e-commerce activity led to a 37% increase in e-commerce volumes in core markets, notably from Saudi Arabia, UAE and Kuwait. There was also good growth from Australia and New Zealand.
Freight-Forwarding reported revenue of AED 280mn down 5%, from AED 294mn in Q4-2019 on the back of the decline in activity from the oil and gas and fashion retail segment.
Aramex’s Logistics & Supply Chain Solutions business witnessed a 4% year on year growth to AED 101mn and rebounding from Q2-2020 lows. This was mainly attributed to growth from very promising and strategic sectors including healthcare and FMCG.
“In Q4-2020 we handled a record volume in Express shipments and witnessed a strong rebound in volumes in our International Express from the Q2-2020 lows,” remarked Thomas Kipp, COO, Aramex.
