Aramex

1. Company Overview & Earnings Context

Aramex PJSC is a leading global logistics, freight forwarding and express delivery company listed on the Dubai Financial Market (DFM). The Group operates across more than 65 countries, providing international and domestic express delivery, freight forwarding, logistics and supply chain solutions. During H1 2026, Aramex delivered solid top-line growth and a significant recovery in profitability, supported by higher courier and freight forwarding volumes, improved operating efficiency and contributions from recent acquisitions. Despite temporary geopolitical disruptions across parts of the GCC during the first half of the year, the Group returned to strong profitability while continuing to invest in expanding its global logistics network.

2. Financial Performance Snapshot

• Revenue: AED 3.43 Billion (+12.1% YoY)

• Gross Profit: AED 734.3 Million (+5.8% YoY)

• Operating Profit: AED 139.1 Million (+80.6% YoY)

• Profit Before Tax: AED 86.2 Million (+472.7% YoY)

• Net Profit: AED 64.7 Million (+742.6% YoY)

• Earnings Per Share (EPS): AED 0.044 (vs. AED 0.005 YoY)

Compared with H1 2025:

• Revenue increased 12.1% to AED 3.43 billion.

• Gross profit increased 5.8% to AED 734.3 million.

• Operating profit increased 80.6% to AED 139.1 million.

• Profit before tax increased 472.7% to AED 86.2 million.

• Net profit increased from AED 7.7 million to AED 64.7 million.

• Earnings per share increased from AED 0.005 to AED 0.044.

3. Operational Highlights & Key Metrics

• Total Assets: AED 6.17 Billion

• Total Equity: AED 2.62 Billion

• Cash & Bank Balances: AED 502.7 Million

• Goodwill: AED 1.76 Billion

• Property & Equipment: AED 930.9 Million

• Right-of-Use Assets: AED 894.7 Million

• Net Cash from Operating Activities: AED 204.4 Million

• Property & Equipment Capex: AED 100.4 Million

• Interest-Bearing Loans & Borrowings: AED 943.5 Million

• Investments in Joint Ventures & Associates: AED 27.6 Million

4. Key Performance Drivers

Aramex's H1 2026 performance was driven by higher shipment volumes across its courier and freight forwarding businesses, resulting in double-digit revenue growth and a sharp improvement in operating profitability. The Group also benefited from disciplined cost management, lower impairment losses and contributions from the acquisitions of Hawthorn Logistics Solutions in Ireland and Aramex Central Coast in Australia. Although regional geopolitical tensions temporarily affected business activity across parts of the UAE and GCC, management concluded that the impact was short-term and did not result in any impairment of goodwill or long-term deterioration in the Group's operating outlook.

5. Outlook & Forward Guidance

Management remains focused on strengthening Aramex's global logistics platform through strategic acquisitions, network expansion and continued investment in operational capabilities. The Group expects recent geopolitical disruptions to remain temporary, supported by resilient economic fundamentals across its key markets. With continued investment in logistics infrastructure, technology and international expansion, Aramex remains well positioned to capitalize on long-term growth in global trade and e-commerce.

6. Investor Takeaway

Aramex delivered a strong turnaround in the first half of 2026, combining double-digit revenue growth with a substantial recovery in profitability. Supported by improving operating performance, healthy operating cash flows, strategic acquisitions, and a diversified global logistics network, the Group appears well positioned to continue benefiting from growing demand for logistics and supply chain solutions across its international markets.