KUWAIT – April 2, 2025 – Agility, a supply chain services, infrastructure and innovation company, today reported full year net income of KD 63 million equivalent to 25.07 fils per share. EBITDA stood at KD 277 million and revenue of KD 1,528 million.

The 2024 figures include the impact of the In-Kind Dividend Distribution in the form of shares in Agility Global PLC, a 51%-owned subsidiary now listed on the Abu Dhabi Securities Exchange (ADX), has led to an increase in minority interest, thus periods are not comparable. Included in 2024 full year results is a one-off net impact of KD 43 million resulting from legal claims for and against the company.

Performance update

'With the listing of Agility global on ADX, we sought to unlock additional value for Agility shareholders, this has also given our largest business units exposure and access to a broader international investment community,' said Agility Vice Chairman Tarek Sultan.

For 2024, Agility delivered strong results as its operating entities continued to expand and capitalize on new opportunities. 'Agility Global, our primary subsidiary, reported EBIT growth of 21.4%, driven by the strong performance of its three largest businesses: Menzies, Tristar, and Agility Logistics Parks (ALP). Menzies experienced growth in new operations across Europe and Asia, Tristar continued its positive trajectory, and ALP expanded its footprint in Saudi Arabia. On the investment front, DSV announced its acquisition of Schenker which will make DSV the world's largest freight forwarder and logistics provider.

In Kuwait, the businesses remain focused on executing their growth strategies and identifying opportunities to maximize value and returns for shareholders. GCS is focused on growth and driving efficiency.  MRC was the successful bidder to develop and operate Metal Reclamation Facility (MRF) to reclaim metals from the spent catalyst from KNPC & KIPIC refineries., Sultan said.

Key developments in Kuwait included the S2/South Village. ALP Kuwait is developing S2, or South Village, a multi-purpose commercial, logistics and crafts/services zone serving Sabah Al-Ahmad City, Kuwait's next-generation city. Development on S2 project is progressing and is expected to deliver its first units during 2025.

End of Year Dividends Recommendation

Agility's board is recommending a cash dividend of 10%, equivalent to 10 fils per share, for the year 2024. This recommendation is subject to the approval of the General Assembly.

Outlook

'We enter 2025 optimistic about the future and the opportunities to grow both globally and in Kuwait, driving value for our shareholders, employees, customers, and communities,' Sultan said.

Recap of Agility KSCP FY 2024 Financial Performance

• Agility's net profit was KD 63 million and EPS was 25.07 fils.
• Agility's EBIT increased 5.8% and EBITDA increased 7.8% to KD 277 million.
• Agility's revenue increased 13% to KD 1,528 million and net revenue increased 19.2%.
• Agility enjoys a healthy balance sheet with KD 4.2 billion in assets.
• Agility reported an operating cash flow of KD 238 million for the full year of 2024.