Agility 2023 net profit $272m

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Agility is a long-term investor and operator in supply chain services, infrastructure, and innovation.
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  • Full-year EBITDA was up 42.4 percent to KD 257.2 million and revenue increased 56.7 percent to KD 1.35 billion.
  • The Q4 2023 earnings of KD26 million, or 10.2 fils per share was almost in line with the same period a year earlier.

Kuwait — Agility, which deals in supply chain services and infrastructure, has reported a net profit of KD83.6 million ($272 million), or 32.7 fils per share, an increase of 22 percent.

Full-year EBITDA was up 42.4 percent to KD 257.2 million and revenue increased 56.7 percent to KD 1.35 billion.

The Q4 2023 earnings of KD26 million, or 10.2 fils per share was almost in line with the same period a year earlier. Q4 EBITDA grew 21.6 percent to KD 77.5 million and revenue increased 2.2 percent to KD 343.9 million.

Agility Vice Chairman Tarek Sultan said: “Agility delivered on a track record of positive momentum in 2023, despite ongoing volatile markets and the challenging macro environment. Agility ended the year with a 42.4 percent growth in EBITDA, driven by strong performance across our operating entities.”

Agility’s board is recommending a cash dividend of 10 percent, equivalent to 10 fils per share for the year 2023. This recommendation is subject to the approval of the General Assembly.

The full year cash dividend is an additional dividend pursuant to the interim dividends announced on March 28, following the board of directors’ approval to issue two interim dividends:

  • An interim cash dividend distribution of KD25.5 million ($83 million), equivalent to 10 fils per share.
  • A stock or in-kind dividend distribution estimated at KD 800 million ($2.6 billion), representing 49 percent of the shares owned by Agility in its subsidiary, Agility Global PLC, which is pursuing a listing on the Abu Dhabi Securities Exchange. Agility Global PLC is expected to discuss, on or before listing, its own dividend distribution to be paid throughout 2024.

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