Aramex Board of Directors Announces the Resignation of Othman Al-Jeda, its Group Chief Executive Officer (CEO) and Appoints Nicolas Sibuet as Acting CEO
Captain Mohamed Juma Alshamsi, Chairman of the Board of Directors of Aramex, said: 'Speaking on behalf of the Board, I would like to thank Othman for his extraordinary commitment to Aramex over 31 years of service. His leadership, dedication, and unwavering belief in the potential of this company have been instrumental in shaping Aramex into the global logistics player it is today. The Board has accepted Othman's resignation with deep appreciation and great respect for the legacy he leaves behind.
'To ensure a smooth transition, we have appointed Nicolas Sibuet, our Chief Financial Officer, to serve as Acting Group CEO, effective 24 April 2025. Nicolas joined Aramex in January 2022 as Chief Financial Officer and is a trusted leader. Nicolas brings 30 years of experience across the logistics, shipping, oil & gas, and aviation industries with a proven track record of leading companies towards transformational growth. We are confident that under his leadership, Aramex will continue to advance with strength and clarity of purpose.'
Othman Al-Jeda, Group Chief Executive Officer, said: 'I would like to thank the Board, my team and every employee at Aramex for what we have achieved together — building a global logistics company from the region, innovating across borders, and staying true to our values. I am grateful to have been a part of this extraordinary company for the past 31 years: from my earliest days on the ground, to the many challenges and milestones we have faced together, I have grown alongside Aramex
— not only as a professional, but as a person. I have full confidence in Aramex's future and the leadership of Nicolas Sibuet, who will carry the momentum forward with strength, care, and a deep sense of responsibility.'
Nicolas Sibuet, Chief Financial Officer, said: 'I am grateful to the Board for the confidence they have placed in me, and look forward to leading Aramex in the interim period and through its next stage of growth. I would like to extend my sincere appreciation to Othman for his leadership and guidance over the years, as well as his invaluable contributions to the business.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
6 days ago
- Al Bawaba
Aramex Reports Stable Group Revenues of AED 3.06 billion in H1 2025, Supported by Regional Logistics Growth
Aramex (DFM: ARMX) a leading global provider of comprehensive logistics and transportation solutions, today announced its financial results for the second quarter ('Q2') and first half ('H1') ending 30 June Sibuet, Acting Group Chief Executive Officer said: 'Our H1 2025 results reflect consistent execution and a clear alignment with shifting customer needs. While we face margin pressures and a changing product mix, we have taken decisive actions through our Accelerate28 strategy to realign our operations, enhancing our ability to better serve our customers across key markets, and lay the groundwork for sustainable, long-term value creation. The partnership with ADQ marks a significant milestone, accelerating our transformation program.'Financial Performance CommentaryThe results reflect a period of stable revenues, ongoing margin recalibration, and significant structural transformation as the company responds to evolving industry trends and positions itself for future Revenues reached AED 1.50 billion in Q2 2025, unchanged from Q2 2024 and H1 2025 revenues totaled AED 3.06 billion, marking a 1% increase at regional performance, Aramex posted double digit growth in revenues and GP in the GCC in Q2 2025, and single-digit growth in Revenues and GP in Asia Pacific, offsetting the softness seen elsewhere across the company's global operations and with similar trends observed for the half year global supply chains continue to regionalize, Aramex is actively evolving its product mix, adapting to shifting logistics flows as clients reposition inventory closer to key consumption markets—a trend driven by supply chain localization and regional consolidation. The Company continues to navigate this strategic shift with a strong focus on operational efficiency, data-driven performance management, and customer-centric Express and Logistics segments delivered robust growth (Domestic Express revenues up 12% in Q2 and 13% in H1; Logistics up 23% in Q2 and 22% in H1), reflecting increasing demand for regional and local solutions. Simultaneously, International Express revenues fell 16% in Q2 and 15% in H1 as shipment flows shifted from extended international to more regional and domestic channels in line with nearshoring trends. Freight Forwarding revenues were up 7% in Q2 and 8% in H1, buoyed by strong gains in air, sea, and land freight in volumes was delivered despite a challenging market environment with pressure on oil prices impacting activity in the energy sector; geopolitical tensions with airspace closure, and an extended holiday period with two Eid holidays during Q2 2025 reducing the number of working Profit for H1 2025 was AED 694 million, with a corresponding margin of 23%, down from 24% in the same period last year. In Q2 2025, the Gross Profit Margin stood at 22%, reflecting a consistent trend across the half. The margin decline reflects ongoing changes in product mix, elevated direct costs due to increased capacity in key growth markets, and persistent market pricing pressures as well as broader inflationary Selling, General, and Administrative Expenses (SG&A) rose by 3% YoY in Q2 2025, representing 21% of total revenues. Excluding one-off expenses associated with the regional restructure and transformation program, normalized SG&A declined 2% YoY, consistent with disciplined overheads management and the strategic focus on performance optimization. SG&A expenses in H1 2025 followed a similar trend, reflecting consistent management of for H1 2025 was reported at AED 252 million (down 20% YoY), while EBIT came in at AED 77 million (down 45%), reflecting the decline in gross profitability. For the second quarter period, EBITDA totaled AED 105 million, while EBIT reached AED 16 the transitional phase the Company is navigating, while continuing to invest in regional capabilities and long-term transformation initiatives, the first half of 2025 recorded AED 8 million in Net Profit, while Q2 posted a loss of AED 9 decline in EBIT and Net Profit is mainly due to the shift in product mix and decline in gross profitability, as well as certain one-off expenses incurred during the period, related to the ADQ acquisition, transformation program and regional restructuring. Excluding these one-off expenses, normalized Q2 2025 EBIT was AED 31 million, down 33% YoY and Net Income was AED 5 million, up 87% YoY. For the half year period, normalized EBIT was AED 95 million and normalized Net Profit was AED 33 Sheet: As of 30 June 2025, Aramex maintained a strong financial profile with AED 542 million in cash and a Debt to EBITDA ratio of 3.4x (including IFRS16), providing a solid foundation for the future investments and transformation activities under transformation program, launched in Q1 2025 as part of the Accelerate28 strategy, is in its early stages and is progressing well. This is a complex transformation program across nine workstreams covering key regions, products and functions. We have more than 300 initiatives planned for implementation with the EBIT impact expected to be fully realized by these value capture initiatives underway, alongside the new four-region structure and a strategic growth mandate, the Company is focused on protecting its bottom line while continuing investment in strategic areas in response to the evolving industry Express product consists of our International Express and Domestic Express products volumes grew 3% Y-o-Y in both H1 and Q2 2025, reaching 68 million and 33 million shipments respectively. This growth was driven entirely by Domestic Express, which added 3million shipments in Q2, while international express saw outflows of 1 million shipments during the quarter. Similar trends were observed for the half-year revenues reached AED 1.91 billion in H1 2025, down 4% Y-o-Y, with Q2 revenues at AED 916 million, a 5% decline. Gross profit for the Express product in H1 2025 stood at AED 508 million, with gross margin of 27%. Profitability was impacted by a lower share of long-haul shipments and an increase in costs associated with 1) management of higher volumes in domestic express; and 2) a growth in variable costs attributed to extra staffing to support fixed capacity during the extended holiday Forwarding delivered revenues of AED 871 million for the first half of the year and AED 438 million in Q2 2025, representing a solid growth of 8% and 7% YoY respectively. The segment benefitted from robust volume growth across all modes, despite ongoing geopolitical tensions in the region which affected cross-border movements in Land Freight and Air the H1 period, Air Freight rose 8%, Sea Freight (FCL) by 13%, Sea Freight (LCL) by 35%, and Land Freight (LTL) by 22%. Q2 trends reinforced this growth trajectory, highlighting Aramex's ability to serve diversified trade flows across industries and geographies. This was supported by a record setting operational highlight in Q2 2025, with Aramex freight handling the biggest charter movement in its history, on the US / ME and Dubai / ME trade Profit for the segment reached AED 117 million in H1 and AED 57 million in Q2, both periods maintaining a steady margin of 13%. Operational efficiency, disciplined pricing, and network optimization helped offset inflation and competitive pressure. However, uncertainty remains, with US tariffs leading to volatility in key trade lanes, and the drop in oil prices impacting shipping Logistics and Supply Chain Solutions segment posted revenue growth of 22% and 23% in H1 and Q2 2025 respectively, reflecting robust demand for warehousing and fulfillment services. Aramex continued to operate at near full warehouse capacity throughout the half-year, driven by the nearshoring trend and onboarding of new client Profit surged by 75% year-on-year in H1 to AED 50 million, while Q2 Gross Profit more than doubled to AED 27 million, driven by the change in revenue quality and improvement in revenue per square meters across key facilities. Gross Profit Margin significantly improved to 21% in Q2 2025, underscoring the segment's growing contribution to Group profitability. Gross Profit Margin was 19% for H1 2025 period.
Al Bawaba
05-08-2025
- Al Bawaba
Dubai Investments H1 2025 profit before tax surges to AED 546.28 million
Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market (DFM), reported profit before tax of AED 546.28 million for the six-month period ended 30 June 2025, compared to AED 431.68 million during the corresponding period in the previous the three-month period ended 30 June 2025, the profit before tax was reported at AED 361.39 million, up from AED 309.34 million during the corresponding period in higher profitability was driven by strong performance across the Group's core business segments, particularly real estate and manufacturing. The real estate segment demonstrated strong performance underpinned by consistent and growing rental Group's total assets increased to AED 22.74 billion as of 30 June 2025, compared to AED 22.10 billion as of 31 December 2024. Equity attributable to the owners of the Company stood at AED 13.89 billion as of 30 June 2025, compared to AED 14.11 billion as of 31 December 2024. The Group also reported a total income of AED 1.89 billion for the six-month period ended 30 June 2025, compared to AED 2.03 billion during the corresponding period in Bin Kalban, Vice Chairman and CEO of Dubai Investments, commented: 'Dubai Investments' performance in the first half of 2025 underscores the strength of its diversified portfolio and strategic focus on value-accretive sectors. Real estate continues to be a key contributor, supported by a stable rental portfolio and progress on high-potential development projects. At the same time, the Group's manufacturing businesses have benefitted from operational efficiencies and sustained demand, reinforcing their role as essential growth pillars.'OutlookLooking ahead, Dubai Investments remains focused on accelerating growth across its core sectors, particularly real estate and financial services. The second half of 2025 will see continued progress on key projects, with Asayel Avenue at Mirdif Hills entering the early construction phase following its groundbreaking in June 2025. The phased handover of villas at Danah Bay on Al Marjan Island, Ras Al Khaimah, is progressing steadily, reinforcing the Group's commitment to timely delivery and quality execution. The Violet Tower project in Jumeirah Village Circle (JVC) is progressing as scheduled, with approximately 26% of construction completed and an expected completion date in Q2 2026. The Follow-On Public Offering (FPO) of Al Mal Capital REIT reflects strong investor confidence and underscores the Group's long-term strategy to scale income-generating platforms, positioning the REIT for continued expansion across resilient sectors such as education, healthcare, and industrial real estate. With a robust pipeline and a clearly defined strategic direction, Dubai Investments is poised to broaden its market presence, enhance shareholder value, and deliver long-term sustainable returns.
Al Bawaba
04-08-2025
- Al Bawaba
Saoud Al Riyami Appointed CEO of Ooredoo
Ooredoo is delighted to announce the appointment of Saoud Al Riyami as the new Chief Executive Officer (CEO). Saoud brings a wealth of experience in business strategy, leadership and transformation. With more than 20 years of experience in the commercial area including sales, marketing, and business development, Saoud has a track record of working in diverse his career, he has played a pivotal role in expanding the B2B and wholesale operations at Ooredoo, driving ICT innovation, and fostering strong strategic partnerships. His deep understanding of the business and his proven leadership will continue to have a significant impact on Ooredoo's growth and transformation journey, as well as further strengthening market position, driving innovation, and delivering exceptional value to customers and stakeholdersSaoud is the first Omani to be appointed as CEO of Ooredoo Oman; a milestone that reflects the company's commitment to empowering local talent and leadership. Ooredoo Oman's Board of Directors, Executive Management and employees take this opportunity to officially welcome Saoud in what is set to be an exciting new chapter for the company. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
