Aramex, the global logistics and transportation solutions provider, today announced its full year financial results for 2014, which was the tenth consecutive year of record profits since the company was listed on the Dubai Financial Market.
The company’s 2014 full year revenues reached $993.7 million, up 10 percent compared to $904 million in the previous year, while full-year net profits touched $86.6 million, an increase of 15 percent over 2013.
Aramex’s 2014 growth was supported by robust growth in the last quarter of the year. Q4 revenues were up 13 percent compared to the corresponding period of 2013, while net profits rose to $24.3 million, up from $20.8 million in Q4 2013, an increase of 17 percent.
Aramex CEO Hussein Hachem said: “Aramex has had another very strong set of results in 2014. Our performance was driven by solid revenue growth primarily in international and domestic express, as well as the continued expansion of our innovative e-commerce platform across key growth markets…We are very confident about extending our growth momentum and strong performance into 2015.”
Aramex also achieved solid growth across its geographies, with the GCC remaining the largest contributor to revenues in 2014, he added.
Aramex’s International Express business recorded a strong performance in Q4 with revenues growing 18 percent. Revenues were driven primarily by robust e-commerce growth in Aramex’s core and growth markets supported by the solid performance in the sector in both Europe and the United States. Going forward, Aramex expects significant express opportunities in these markets.
In addition, the company’s recent acquisition of Australia-based Mail Call Couriers was a significant growth contributor. Aramex’s Logistics and Supply Chain Management business also performed strongly. Revenues in Q4 grew 19 percent, with full-year revenues growing 17 percent, driven by increased demand for retail and oil and gas services.
Freight Q4 revenues increased slightly by 4 percent and full year revenues were up 1 percent. However Aramex expects to see an improvement in freight performance in 2015 due to the recent decline in oil prices and increase in trade, which may encourage an economic rebound in our trading routes across Asia, Africa, and Europe.
In 2014, Aramex significantly expanded its global footprint with a number of franchise agreements, joint ventures, and acquisitions across Africa, South East Asia, and Australia including InPost, Mail Call Couriers, Leo Global Logistics, and PostNet South Africa.