Highlights of 2023 Financial Results

Amid challenging market conditions and currency fluctuations, Aramex delivered a resilient full year performance in 2023. Revenue was healthy at AED 5.69 billion, representing a decline of 4% in 2023 compared to 2022. When excluding the impact of currency translation,full year Revenue decline was 1% year-on-year compared to reported decline of 4%.

Revenue growth of 2% in International Express for the year 2023 was offset by the decline in revenues from other products. Freight Forwarding was impacted by the decline in global rates in the Freight-Forwarding industry, while the Domestic Express and Logistics businesses reported marginal decline in revenues, impacted by currency translation. Excluding the impact of currency translation, both Domestic Express and Logistics reported growth of 2% in revenue for the year 2023 compared to the year 2022.

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