The general evaluation of ARAMEX (AE), a company active in the Transportation Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date August 27, 2021, the closing price was ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Drop 12M TP by 7% to AED5.40/share. We cut our 2017-20 EPS estimates by an average of 14% to reflect the 9M17 revenue miss of 6% led by unfavourable FX changes at the domestic express and logistics segments (29% of top line); we anticipate net income to fall by 6% y-o-y in 4Q17. We expect a soft earnings rebound in 2018 as the impact is fully captured in 2017 and as we assume the USD:EGP will appreciate by c10%. Aramex trades 20% above the industry on a 2018e P/E at 18x, fairly reflecting its ab...
Aramex announced a 13% increase in its Q3 net profits. The global logistics and transportation firm reported Q3 2017 profits of AED81.6m, up from AED72.2m in Q3 2016. Q3 2017 Revenues have also increased to AED1.1bn, up by 9% compared to last year’s Q3 2016. Excluding global currency fluctuations, especially the Egyptian Pound, Q3 revenues would have increased 11%. 9M 2017 revenues went up by 7% to AED3.397bn compared to the same period of the previous year.
Aramex reported a 4% increase in Q2 2017 revenues to AED1.148bn, compared to AED1.105bn in Q2 2016. The company’s net profits in Q2 2017 decreased by 23% to AED97m, compared to AED125.7m in the corresponding period of the previous year. H1 2017 revenues increased, yoy, to AED2.254bn, up by 6%, compared to AED2.134bn in the first half of 2016. H1 2017 Net profits decreased to AED188.7m, down from AED222.5m in the first half of 2016, a yoy decrease of 15%.
Remain Overweight at a 23% higher TP of AED5.80/share. Aramex’s 4Q16 revenue positively surprised growing by 9% q-o-q and 14% y-o-y, due to the higher-margin international express segment—the key growth driver going forward based on increased cross boarder e-commerce (especially in Asia, Europe and US markets). Aramex trades at 16.6x on our revised 2017 EPS estimate (+17% y-o-y on a recurring basis, excl. an AED42mn gain on the acquisition of a 25% stake in an Egyptian logistics facility), in li...
The leader in the global logistics and transportation industry, Aramex, announced its full year financial results for the year ended 31 December, 2016. 2016 Revenues reached AED4.343bn, an increase by 16% compared to AED3.755bn in 2015. 2016 Net profits increased by 37% to AED426.6m, up from AED311.3m in 2015. Q4 Revenues saw double-digit growth of 18% to AED1.158bn, compared to AED982m in the same period of 2015. In Q4 2016, Aramex’s international express business performed strongly with reve...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Diversified growth warrants higher multiples. Aramex trades at 13.6x 2017e P/E, 16% below the courier peer average, which we believe is unjustified in light of higher growth prospects (2016-18 EBITDA CAGR of 16% vs. 9% for the sector). We upped our TP by 15% to reflect higher revenue growth estimates at the higher-margin express and logistics segments, although we cut the domestic express gross profit margin to 50% (from 55%) due to the consolidation of Fastway Australia (Feb-16). Our new TP imp...
Aramex’s Q3 2016 Revenues increased to AED1.050bn, up by 15% compared to AED917m in Q3 2015. The Net Profits decreased by 3% to AED72.2m. For the nine-month YTD period, Revenues have increased to AED3.185bn, up by 15% compared to AED2.773bn in the first nine months of 2015. 9M 2016 Net Profits increased by 16% to AED294.8m, up from AED253.7m during the same period last year.
The leading provider of comprehensive logistics and transportation solutions, Aramex, announced a 36% jump in Q2 2016 Net profit to AED125.7m from AED92.5m in the same period of 2015. Q2 2016 Revenues rose by 17% to AED1.105bn from AED946m in the same period of 2015. In the first half of 2016, revenues increased by 15% year-on-year to AED2.134bn vs AED1.856bn for the corresponding period of 2015. H1 2016 net profit during the same period rose to AED222.5m, up from AED179.2m in the first half of...
Stock is cheap at 2016e P/E of 11.3x. We see 43% upside on logistics and transportation player Aramex. While we believe 2016e and 2017e revenue growth of 5.8% and 7.1% reflects the region’s new norm, our valuation still puts the stock 15% below courier peers (at a 2016e P/E of 16.2x) till there is clarity over Middle East trade demand. Franchising, M&A, and medium-term upside from Iran may drive positive surprises, while to the downside, foreign ownership in the stock hovering near its limit may...
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