Integrated Logistics Arm Helps Drive Growth for Agility

Gulf-based global logistics player Agility today reported 2018 net profit of KD 81.1 million, or 56.06 fils per share, an increase of 18.4% from 2017. Revenue for the year reached KD 1,550.2 million, and EBITDA was KD 154.8 million, increases of 10.2% and 14.5%, respectively.

For the fourth quarter 2018, Agility reported a net profit of KD 22.2 million, or 15.35 fils per share, an increase of 15.1% over Q4 2017. EBITDA for Q4 2018 was KD 40.8 million, an increase of 8.4%.

“Agility has improved profitability for shareholders for 10 consecutive quarters. In 2018, Agility posted double-digit EBITDA growth for the third year in a row,” said Agility Vice Chairman and CEO Tarek Sultan.

Sultan said the company continues to invest in its future by building more than 1 million sqm of new warehousing and industrial facilities across the Middle East and Africa; building, through one its subsidiaries, the $1.2 billion Reem Mall mega project in Abu Dhabi; and investing more than $100 million in Shipa, its digital logistics platform.

Agility Global Integrated Logistics (GIL) revenue grew 8.6% to KD 1,153.1 million in 2018, driven by strong growth across core products. Net revenue also grew by 4.9% year-over-year, with 22.9% net revenue margins, as a result of better air freight yields and stable ocean freight yields. Full year EBIDTA rose 6.3% to KD 35.9 million, attributable to strength in freight forwarding and contract logistics, consistent execution of GIL’s commercial strategy, and management’s focus on efficiency.

On core products: contract logistics grew 8.7% its revenue, and GIL outperformed the market in both air and ocean volumes. GIL air freight tonnage increased 9.2% and ocean freight TEUs grew 6.7% vs. global market air freight volume growth of 4.5% and global ocean freight volume growth of 3.5%.