Page 17 - 7X PR REPORT AUGUST 2024

7X

7X, formerly known as Emirates Post Group, delivered a strong performance in the first half (H1) of
2024. The company reported significant growth across various metrics, reflecting its strategic
expansion in the trade, transport, and logistics sectors.

Key highlights from the H1 2024 results include a 12% year-over-year (YoY) increase in international
outbound postal shipments and a 42% YoY growth in international inbound shipments through EMS
and parcel delivery. Additionally, domestic last-mile and courier shipments rose by 8.5% YoY. The
launch of EMX in February 2024 contributed significantly to the increased volumes of international
inbound shipments and transshipments.
Financial transactions also saw a notable 38% YoY growth, while the volume of printed financial
and non-financial cards increased by 22% YoY. Abdulla Mohammed Alashram, Group CEO of 7X,
emphasised the company’s commitment to achieving its targets despite industry challenges and
expressed optimism for continued success in the second half of the year with new products and
services expected to launch.
ADNOC L&S

ADNOC L&S reported a strong financial performance for the first half of 2024, with a significant 31%
increase in net profit, reaching $401 million. The company’s revenue surged by 42% year-over-year
to $1.74 billion. This growth was primarily driven by robust performance across all business
segments, maintaining a healthy EBITDA margin of 34%, with EBITDA itself increasing by 42% to
$591 million.

Key factors contributing to this growth include higher transported volumes, particularly in the
integrated logistics segment, and an increase in revenues from the shipping segment due to strong
charter rates and the addition of new vessels. The company’s ongoing expansion efforts, including
the acquisition of Navig8 and significant investments in new energy-efficient vessels, further
solidified its market position.

These results reflect ADNOC L&S’s successful execution of its growth strategy, positioning the
company for continued success in the energy logistics and maritime services sectors.

AD Ports Group

AD Ports Group reported a highly successful first half of 2024, with its net profit increasing by 25%
YoY to $228 million. This growth was supported by a significant surge in revenue, which more than
doubled to $2.2 billion, reflecting a 108% YoY increase. The company’s performance was driven by
both organic growth across its ports, logistics, and digital clusters, as well as strategic acquisitions,
including Noatum and GFS.

In Q2 alone, AD Ports Group recorded a 42% YoY increase in net profit, reaching $120 million, while
revenue for the quarter rose to $1.1 billion. The company’s EBITDA for Q2 grew by 56% YoY to $291
million.

https://www.logisticsmiddleeast.com/business/bottom-line-rounding-up-the-h1-financial-results-
from-middle-east-logistics-giants?trk=public_post-text