Agility Reports Q1 2024 Net Profit of KD 18.7 Million

Numbers above are rounded.

KUWAIT – May 15, 2024 – Agility,  a supply chain services, infrastructure and innovation company, today reported Q1 2024 earnings of KD 18.7 million, or 7.32 fils per share, a 22% increase from same period a year earlier. First quarter EBITDA grew 17.2% to KD 70.8 million and revenue increased 4.9% to KD 336.3 million. This growth is driven by performance of Agility’s main entities, each pursuing its own road map to achieve further growth.

Latest Update

On May 2, 2024, Agility announced the listing of its subsidiary, Agility Global PLC, on the Abu Dhabi Securities Exchange (ADX) under the ticker symbol <AGILITY>. Agility owns 51% of Agility Global and will consolidate the company’s accounts.

“The listing of Agility Global on the ADX crystalizes the value of Agility’s international assets and enables the company to access additional capital markets to drive further growth,” said Tarek Sultan, Agility Vice Chairman and CEO. “Each of Agility’s subsidiaries will be pursuing different road maps to invest and grow further”. Agility KSCP is the majority shareholder of Agility Global PLC and its financials will be consolidated with the group’s financials.

Financial Reporting  

The in-kind dividends distribution was effective on May 2^nd 2024, the Listing Day of Agility Global PLC and accordingly the financial impact was not reflected in the first quarter results and will be reflected in the company’s financials starting Q2 2024.

Recap of Agility KSCP Q1 2024 Financial Performance

• Agility’s net profit was KD 18.7 million, an increase of 22%, and EPS was 7.32 fils.
• Agility’s EBITDA increased 17.2% to KD 70.8 million.
• Agility’s revenue increased 4.9% to KD 336.3 million and net revenue increased 18.9%.
• Agility enjoys a healthy balance sheet with KD 3.9 billion in assets.
• Agility reported an operating cash flow of KD 25.9 million for the first quarter of 2024.