Aramex produces integrated financial and sustainability report
Aramex has become 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 3%; reaching an average of 21 training hours per employee; and decreasing vehicle accidents that result in injuries by 70%.
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 organisation”.
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 204m, an increase of 11% year-on-year. The company reported a cash balance of AED 555m 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, CFO, 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.”
