Aramex sets sustainability benchmark with region’s first integrated annual report
AED 204 million profit for 12 months ending December 31, 2010, an 11% year-on-year increase
· Fuel consumption across company down three per cent in 2010
· Employee training reaches average of 21 hours
Dubai, UAE; April 19, 2011: Aramex, the global logistics and transportation solutions provider, today became the first company in the Middle East to publish an integrated financial and sustainability report. Highlighting its commitment to sustainable business practices, the 2010 Aramex Annual Report combines the company’s consolidated financial results for the 12-month period ending December 31, 2010, with an evaluation of the company’s progress on economic, social and environmental commitments.
The report highlights an array of achievements in 2010 covering a wide range of sustainability issues, including reducing fuel consumption across the company by three per cent; reaching an average of 21 training hours per employee; and decreasing vehicle accidents that result in injuries by 70 per cent.
Fadi Ghandour, Aramex founder and CEO, said: “Since its foundation, Aramex has been guided by a firm belief that sustainable business practices and robust financial results are interdependent. Integrated financial and sustainability reporting is the next step in our long term commitment to meet our responsibilities to stakeholders, and reflects the values and corporate culture at the heart of the organization”.
Raji Hattar, Chief Sustainability and Compliance Officer, Aramex, said: “The move to integrated reporting demonstrates the inseparable role of sustainability in Aramex’s business model and daily operations. We will continue to take a lead in sustainability, setting ambitious targets for our economic, environmental, and social performance”.
For the 12 months ending December 31, 2010, Aramex reported full-year net profits of AED 204 million, an increase of 11% year-on-year. The company reported a cash balance of AED 555 million as of December 31, 2010, maintaining its very healthy balance sheet. This strong cash position, coupled with an extremely low debt-to-equity ratio, will support the company’s strategic development plans.
2010 was a year of significant expansion for Aramex, which strengthened its presence in emerging markets such as Ghana, Turkey, Malaysia, Bangladesh and Vietnam through a series of strategic acquisitions and partnerships. This year will see the company maintain its focus on strategic expansion, including anticipated acquisitions in East Africa.
Bashar Obeid, Chief Financial Officer, Aramex, said: “Sustainability is an increasingly important issue for investors in the Middle East, who now demand a much more holistic approach to annual reporting that combines financial performance with information about the economic, environmental and social impact of a company’s business operations. By integrating our financial and sustainability reporting we are giving investors a comprehensive set of information which will enable them to fully evaluate the company’s total performance.”
A copy of the 2010 Aramex Annual Report can be found at annualreport2010.aramex.org.
Aramex is a leading provider of comprehensive logistics and transportation solutions. Established in 1982 as an express operator, the company rapidly evolved into a global brand recognized for its customized services and innovative multi-product offering. Traded on the NASDAQ from 1997 to 2002, Aramex today is a publicly traded company on the Dubai Financial Market (DFM: ARMX), employing more than 8,600 people in 310 locations, and leads a strong alliance network providing global presence, and bringing together 40 independent express companies from around the world. The range of services offered by Aramex includes integrated logistics solutions, international and domestic express delivery, freight forwarding, secure records and information management solutions, and e-services, including e-business solutions and Shop and Ship.