Agility achieved profits amounting to 18.7 million Kuwaiti dinars, equivalent to 7.32 fils per share, an increase of 22% compared to the same period of the previous year. First quarter earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 17.2% to reach 70.8 million Kuwaiti dinars, and revenues also increased to 336.3 million Kuwaiti dinars, an increase of 4.9%. This growth was driven by the performance of Agility’s key entities, each of which has its own roadmap for further growth. The company has a good balance sheet with assets of 3.9 billion dinars. Agility’s operating cash flow reached 25.9 million dinars for the first quarter of 2024.
Inclusion of “Agility Global”
On May 2, 2024, Agility announced the listing of its subsidiary, Agility Global PLC, on the Abu Dhabi Stock Exchange under the stock symbol: AGILITY. Agility owns 51% of Agility Global and will consolidate the company’s results into its consolidated results.
Regarding the listing process, Tariq Sultan, Vice Chairman and CEO of Agility, explained: “The listing of Agility Global on the Abu Dhabi Securities Market crystallizes the value of Agility’s international assets and enables the company to access more capital markets to drive further growth. Each Agility subsidiary will pursue a different roadmap to invest and grow further. Agility Public Warehousing Company K.S.C. is the majority shareholder in Agility Global PLC, and its financial statements will be merged with the group’s financial statements.”
For the first quarter of 2024, Agility’s financial reporting method has not changed. Since the distribution of in-kind dividends took effect on the day of the listing of Agility Global PLC, which was May 2, 2024, this change will be reflected in the company’s financial statements as of the second quarter of 2024.