Q3 2024

(Million KD)

Q3 2023

(Million KD)

Variance

(%)

9M 2024

(Million KD)

9M 2023

(Million KD)

Variance

(%)

Revenue

411.0

360.8

14%

1,122.7

1,009.2

11%

Net Revenue

260.0

212.8

22%

720.0

599.7

20%

EBITDA

70.0

58.7

19%

204.2

179.6

14%

EBIT

44.8

33.8

33%

129.4

110.1

18%

Net Profit

10.1

28.0

-64%

34.8

57.5

-40%

EPS (fils)

4.04

11.23

-64%

13.93

23.03

-40%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numbers above are rounded.

KUWAIT – Agility, a supply chain services, infrastructure and innovation company, today reported Q3 2024 EBIT of KD 44.8 million. This represents a 33% increase from the same period a year earlier. Revenue for the same period stood at KD 411 million which represents a 14% increase from Q3 2023.  

Agility’s third-quarter net profit stood at KD 10.1 million or 4.04 fils per share. Note this quarter’s net profit is not comparable to the previous year due to the increase in minority interest as a result of the in-kind dividends distribution representing 49% of Agility Global PLC.

For the first nine months of 2024, earnings were KD 34.8 million, or 13.93 fils per share, EBIT grew 18% to KD 129.4 million, and revenue increased 11% to KD 1,122.7 million.

Latest Update

Agility Vice Chairman Tarek Sultan said: “Agility’s performance in Q3 has continued to deliver strong results as our operating entities grow and seize new opportunities.

Agility Global, our main subsidiary, reported 36% EBIT growth, driven by the performance of its three largest businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia; Tristar has also shown good growth; and ALP grew in Saudi Arabia and is expanding in the Kingdom. On the investment side,  DSV’s share price increased on the news of DSV’s acquisition of Schenker , resulting in an increase in the carrying value of Agility Global’s investments.”

Sultan said other entities within Agility, mainly in Kuwait, are pursuing their growth strategies and looking for opportunity to deliver the best value and return for shareholders.

Recap of Agility KSCP Q3 2024 Financial Performance

  • Agility’s net profit was KD 10.1 million and EPS was 4.04 fils.
  • Agility’s EBIT increased 33% and EBITDA increased 19% to KD 70 million.
  • Agility’s revenue increased 14% to KD 411 million and net revenue increased 22%.
  • Agility enjoys a healthy balance sheet with KD 4.1 billion in assets.
  • Agility reported an operating cash flow of KD 148.1 million for the first nine months of 2024.

About Agility

Agility is a global leader in supply chain services, infrastructure, and innovation with 65,000 employees across six continents. Listed in Kuwait and Dubai, Agility specializes in growing and scaling operating businesses. Agility’s portfolio of companies include the world’s largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); and a leading logistics parks developer and operator across the Middle East, South Asia, and Africa (Agility Logistics Parks). Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, ecommerce-enablement and digital logistics, and waste management and recycling. Agility invests in supply chain innovation, sustainability, and resilience, and has minority holdings in a portfolio of listed and non-listed companies. 

 For more information about Agility, visit:
Website: www.agility.com
Twitter: twitter.com/agility  
LinkedIn: linkedin.com/company/agility