- Agility Infrastructure reported robust financial growth in 2023, with a 22% increase in net profit and a 42.4% rise in EBITDA, driven by strong performance across its diverse portfolio.
- The company, which held its Ordinary Annual General Assembly Meeting with a 65.6% quorum, approved a 10% cash dividend and remains optimistic about future growth despite market volatility.
- Agility continues to focus on innovation, sustainability, and digital transformation to navigate industry challenges and enhance supply chain resilience.
Agility Infrastructure, a prominent global leader in supply chain services, infrastructure, and innovation, convened its Ordinary Annual General Assembly Meeting for 2023 with a quorum of 65.6%. During this assembly, shareholders approved all agenda items, notably the audited financial statements and the Board of Directors’ recommendation for a 10% cash dividend, translating to 10 fils per share. These dividends will be available to shareholders registered on the settlement date, June 13, 2024.
Fruitful outcomes in 2023
Agility Infrastructure’s strong financial performance in 2023 highlights the company’s resilience and operational excellence. The significant increases in net profit, EBITDA, and revenue reflect the success of its diverse portfolio and strategic focus on innovation and sustainability.
Significant financial milestones
Agility’s financial performance in 2023 showcased substantial growth across various metrics, reinforcing its status as a major player in the logistics and infrastructure sectors. The company reported a net profit of KD 83.6 million ($273.84 million), equivalent to 32.7 fils per share, marking a 22% increase from the previous year. Full-year EBITDA surged by 42.4% to KD 257.2 million ($84.22 million), while revenue escalated by 56.7%. This robust financial health underscores Agility’s resilience and operational excellence amid a volatile market landscape.
Diverse and innovative portfolio
Agility’s extensive portfolio includes several high-profile subsidiaries and business units that contribute to its diversified revenue streams. Among these are Menzies Aviation, the world’s largest aviation services company; Tristar, a global fuel logistics business; and Agility Logistics Parks, a leading developer and operator of logistics parks in the Middle East, South Asia, and Africa. Additionally, Agility offers a range of services including customs digitisation, remote-site infrastructure, defence and government services, e-commerce enablement, digital logistics, and waste management and recycling.
Industry challenges and innovations
The logistics and supply chain industry has faced numerous challenges in recent years, from global trade tensions and economic instability to the COVID-19 pandemic’s disruption of supply chains. Companies like Agility have had to innovate and adapt rapidly, embracing digital transformation and sustainability to maintain competitiveness. Agility’s investment in supply chain innovation, sustainability, and resilience has been pivotal in navigating these challenges. The company’s focus on digital logistics and e-commerce enablement is particularly noteworthy, as these areas have become critical in a world increasingly driven by online retail and technological integration.
“Agility delivered on a track record of positive momentum in 2023, despite ongoing volatile markets and the challenging macro environment. We enter 2024 optimistic about the future and the opportunities to grow both globally and in Kuwait, driving value for our shareholders, employees, customers, and communities”
Tarek Sultan, Vice Chairman of Agility
Commitment to sustainability
Sustainability remains a core focus for Agility. The company has committed to reducing its environmental footprint and enhancing supply chain resilience. Through investments in innovative technologies and sustainable practices, Agility is not only improving its operational efficiency but also contributing to broader environmental goals. These efforts are essential in an industry where sustainability is becoming a key differentiator and a driver of long-term success.
About the company
Agility Infrastructure’s strong financial performance in 2023 and its strategic focus on innovation, sustainability, and diversified growth underscore its leadership in the global supply chain services and infrastructure sector. As the company looks ahead to 2024, it remains well-positioned to capitalise on new opportunities, drive value for its stakeholders, and navigate the evolving challenges of the logistics industry. The continued support and trust of shareholders, customers, employees, and partners will be crucial as Agility strives to maintain its upward trajectory and market leadership.
