Latest Updates

Agility and MIT Media Lab Hosting ‘Data Agility’ Hackathon

Kuwait’s brightest tech minds competing to solve real-life problems

KUWAIT – March 24, 2019 – Agility, a leading global logistics provider, is collaborating with the MIT Media Lab to host a four-day competition that opened Sunday and challenges teams of Kuwaiti tech students, coders and entrepreneurs to solve real-world societal and business problems.

The Data Agility Hackathon will be co-hosted by the Massachusetts Institute of Technology (MIT) Media Lab, one of the world’s pioneering interdisciplinary research laboratories. Experts from the MIT Media Lab are coaching 50 Hackathon participants working in teams of 10 to find ways to crack issues faced by consumers, businesses and the government.

Hackathon competitors will use high-powered tools to analyze data provided by Agility and Kuwait’s Public Authority for Civil Information. Among the questions they will examine:

  • Can satellite imagery unsnarl Kuwait’s epic morning traffic so we can get to work, school and the airport faster?
  • Can predictive analytics ensure that your favorite cosmetics and fashion items are in store when you go shopping?
  • How can data science speed online purchases right to your door, faster and more reliably than ever?

Thinkers and representatives from Kuwaiti ministries, universities, businesses, banks, technology innovators, start-up accelerators and foundations also are taking part. The data used by the teams includes satellite imaging, Kuwait traffic information, location-based data, and warehousing and freight data.

Tarek Sultan, Agility CEO & Vice Chairman, said: “The Data Agility Hackathon brings a new generation of Kuwaiti problem-solvers together to learn, grow, and use their skills to improve life. We are trying to foster a collaborative, creative mentality and develop the skills critical to the future of Kuwait and its citizens.”

Ryan McCarthy, Director of Member Relations at the MIT Media Lab, said: “Hackathons bring together intellect, creativity and the latest technology tools to address unique regional challenges. We’re enthusiastic about bringing our interdisciplinary approach to design, prototyping and problem-solving to this event.”

Sunday’s opening ceremony featured remarks from U.S. Ambassador Lawrence Silverman; Dr. Youssef Al-Ibrahim, Chairman of the Supervisory Committee of Kuwait Achievers for Future Opportunities (KAFO) Project; and Abdulrahman Al-Otaibi, a Kuwaiti doctoral candidate at the MIT Media Lab. The opening was followed by a panel discussion on the trends and implications of data science, automation and data privacy.

Dr. Al-Ibrahim said: “Following the vision and direction of His Highness, the Amir to continue to empower the youth of Kuwait, we initiated KAFO following the national youth project. It is our mission at KAFO to identify young talent and connect them to others so that they can learn and collaborate as part of our role in contributing to the knowledge economy. We are proud to be part of this advanced program which promotes problem solving through innovation to enable youth in building the future.”

Agility has been a member of the MIT Media Lab since 2017. The Data Agility Hackathon is supported by the Kuwait Foundation for Advancement of Sciences and KAFO.

Posted in Agility General Update

The future of warehouse parks in Africa

Geoffrey White, CEO at Agility Africa, speaks to CNBC Africa at the Africa CEO Forum in Kigali at the end of March. Agility is building warehouses and logistics parks to suit a variety of needs across Africa – watch the full interview to find out more.

Posted in Agility General Update

The Rise of Arab Women

Mariam Al Foudery, Agility Group Chief Marketing Officer, joins a panel at the World Economic Forum on MENA 2019 about what’s needed to unlock the full potential of Arab women. By 2025, the market power of women’s increased participation in the workforce could add an estimated $2.7 trillion to the region’s economy. New policies are coming into force to bring about societal change, what else is needed?

This session is associated with the Platform for Shaping the Future of Economic Progress, Education, Gender and Employment and was originally broadcast at the World Economic Forum on MENA 2019.

Posted in Agility General Update

Agility Appointed to Handle IAAPA Expo Europe 2019

Official freight and on-site handler for industry-leading leisure event

LONDON – March. 12, 2019 – Agility, a leading global logistics provider, has been appointed as the official freight and on-site handling contractor for International Association of Amusement Parks and Attractions (IAAPA) Expo Europe show.

Agility Fairs & Events will assist IAAPA Expo Europe exhibitors and contractors with international logistics services, including freight forwarding, pre- and post-show warehouse handling, and forklift and heavy lift operations to and from the exhibition.

Organized by IAAPA, the global association for the attractions industry, Expo Europe 2019 is the leisure and attractions event in Europe for industry professionals, including operators, suppliers, manufacturers, investors, developers, and others in the global amusement community. The event, which takes place  Sept. 16 – 19, will be held at Paris Expo Porte de Versailles.

Jakob Wahl, Executive Director, IAAPA EMEA, said: “The new partnership with Agility will allow IAAPA Expo Europe exhibitors options to handle freight at fair rates. Our exhibitors come to the Expo from around the world, and we are sure Agility will meet all of their needs.”

Garcia Newell, Regional Director, Agility Fairs & Events Europe, said: “Having been the nominated shippers and customs brokers for IAAPA Expo in the United States for over 30 years, we are excited to bring our experience, global capabilities and customer care to this year’s event in Paris.”

About Agility

Agility Global Integrated Logistics is one of the world’s top freight forwarders and providers of contract logistics. It offers ocean, air and road freight, warehousing and distribution, and integrated supply chain services in more than 100 countries. Agility GIL also provides specialist solutions for capital projects, oil and gas, chemicals, and fairs and events logistics. GIL and its parent, Agility, are pioneers in emerging markets, and leader and investors in the use of technology to enhance supply chain efficiency.  Agility is a publicly traded company with $4.6 billion in annual revenue.

For more information about Agility, visit www.agility.com
Twitter: twitter.com/agility
LinkedIn: linkedin.com/company/agility
YouTube: youtube.com/user/agilitycorp

About IAAPA

IAAPA is a diverse and dynamic community of global attractions professionals. As the largest international trade association for permanently located attractions, IAAPA unifies the attractions community, connects people to learn and grow together, and strives to promote the highest professional standards for excellence and safety around the world.

Founded in 1918, IAAPA represents more than 6,000 attraction, supplier, and individual members from more than 100 countries. Members include professionals from amusement parks, theme parks, attractions, water parks, resorts, family entertainment centers, zoos, aquariums, science centers, museums, manufacturers, and suppliers.

The association’s global headquarters is in Orlando, Florida, US. IAAPA also maintains offices in Brussels, Belgium; Hong Kong, China; Shanghai, China; Mexico City, Mexico; and Alexandria, Virginia, US. To learn more, visit www.IAAPA.org or connect through social media channels: @IAAPAHQ @IAAPAEMEA #IAAPA.

Posted in Agility General Update

Emerging Markets Enthusiasm Tempered by ‘Crisis’ Concern

Logistics industry executives worry about trade tensions, geopolitical threats
BAAR, Switzerland – March 4, 2019– The logistics industry sees emerging markets growing at a healthy 5% pace in 2019, but a surprising percentage of executives are bracing for a crisis amid U.S.-China trade friction, interest rate and currency volatility, and Brexit uncertainty.

In Agility’s annual survey of more than 500 supply chain industry professionals, 55.7% say a growth rate of 5% for developing economies is “about right.” Emerging markets expanded by 4.7% in 2018, and the International Monetary Fund now forecasts 4.5% expansion for 2019.

At the same time, 47.1% of logistics executives surveyed say an emerging markets crisis is “likely” or “highly likely.” Simmering tensions and tariffs could shave 10% off of U.S.-China trade volumes this year, the survey shows.

The survey is part of the 2019 Agility Emerging Markets Logistics Index, the company’s 10th annual snapshot of industry sentiment and ranking of the world’s 50 leading emerging markets. The Index is a broad gauge of countries’ competitiveness based on their international and domestic logistics strengths and business fundamentals.

“Companies looking for opportunity are finding it in emerging markets, where small and medium-sized enterprises with access to technology and mobile banking are increasingly driving growth,” says Essa Al-Saleh, CEO of Agility Global Integrated Logistics. “At the same time, logistics professionals worry that these markets are vulnerable to ripple effects from big geopolitical setbacks.”

The Index ranks 50 countries by factors that make them attractive to logistics providers, freight forwarders, shipping lines, air cargo carriers and distributors. The top 10 are: China, India, United Arab Emirates, Indonesia, Malaysia, Saudi Arabia, Mexico, Qatar, Turkey and Vietnam.

China, India and Indonesia rank highest for domestic logistics; China, India and Mexico are tops for international logistics; and UAE, Malaysia and Qatar have the best business fundamentals.

2019 Index and Survey Highlights

  • China and India, atop the 2019 rankings based on their size and strength as international and domestic logistics markets, lag smaller rivals in business fundamentals, a category that ranks countries based on regulatory environment, credit and debt dynamics, contract enforcement, anti-corruption safeguards, price stability and market access. In that area, China ranks No. 7 and India is No. 10.
  • The strongest clusters of emerging markets are in the Arabian Gulf and Southeast Asia, thanks to business-friendly conditions and core strengths – the Gulf’s energy wealth and Southeast Asian manufacturing power – that draw logistics activity. In the Gulf, UAE (No. 3), Saudi Arabia (6), Qatar (8), Oman (12), Bahrain (16) and Kuwait (18) rank highly. Among ASEAN countries, Indonesia (4), Malaysia (5), Vietnam (10), Thailand (11) and Philippines (20) are strong.
  • Against a backdrop of trade friction and data showing China’s economy slowing, survey respondents see India as the market with greatest potential over China, their second choice.
  • Fifty-six percent of those surveyed say a prolonged trade standoff between the U.S. and China could benefit Southeast Asian countries, which offer manufacturing and sourcing alternatives to China.
  • Brazil, in the midst of a severe economic downturn and political upheaval, tumbles from No. 9 to 15 in the Index, ranking behind smaller Latin economies Mexico (7) and Chile (13). Brazil’s business fundamentals – a priority for new President Jair Bolsonaro – were 39th out of 50 Index countries. Despite the poor performance, executives surveyed see enormous promise: 44.5% said they were “optimistic” or “strongly optimistic” about Brazil.
  • China’s $4-$8 trillion Belt & Road Initiative (BRI) infrastructure drive is a bigger plus for China than for the countries in Asia, the Middle East, Africa and Europe where it is investing. Sixty-four percent of executives surveyed see the BRI boosting growth and trade for China; only 41.4% believe it will help other emerging markets.
  • E-commerce is fueling logistics opportunities in emerging markets. Sixty-percent of industry executives expect more outsourcing of last-mile delivery by retailers; 47.4% expecting more e-fulfilment outsourcing.
  • Trade bureaucracy is the biggest obstacle to small and medium-sized companies trying to do business across borders, survey respondents say. But when it comes to what size companies will grow fastest in emerging markets, SMEs are their top pick over multi-nationals and big regional or local companies.
  • Brexit could benefit emerging markets. Fifty-nine percent of executives surveyed expect emerging markets to seek trade concessions and new deals from the UK. Seventy-percent think emerging markets will be unaffected by Brexit.
  • Iran’s near-term potential has evaporated as a result of re-imposed U.S. sanctions. Nearly 75% of those surveyed say Iran is “less promising than before” or “not at all promising.” Iran ranks 49th of 50 countries as an international logistics opportunity.
  • The UAE and Malaysia are tops for business fundamentals. Gulf countries Qatar, Oman and Saudi Arabia also score high. Among the 50 Index countries, it’s hardest to do business in Venezuela, Angola, Myanmar and Libya.
  • Sixty-five percent of those surveyed see Mexico increasing trade with the U.S. and Canada under a yet-to-be-ratified trade agreement that is to replace NAFTA.
  • Venezuela, which holds the world’s largest oil reserves, ranks last (No. 50) overall and 50th for business fundamentals and international logistics opportunities.
  • The so-called BRICS economies (Brazil, Russia, India, China and South Africa) were once considered bellwethers and prime engines of emerging markets growth, but have diverged. China (1) and India (2) continue growing at more than 6% a year. Russia (14) is slowed by economic sanctions and low energy prices; Brazil (15) has lost markets and investment amid its worst downturn; and South Africa (24) has seen prospects suffer amid years of ruling party infighting and labor unrest.
  • Sub-Saharan Africa is a mixed picture. South Africa (24) is an underperformer. But in rankings of business fundamentals, Ghana and Kenya do relatively well at No. 19 and No. 21. Nigeria, which vies with South Africa to be the region’s largest economy, suffers from poor business conditions, an area where it ranks 44th.
  • Mobile banking – now available to nearly 43% of the population in Sub-Saharan Africa – is proving to be a catalyst for trade and is lowering barriers for small and medium-sized businesses by providing means for fast, secure payments and financial transactions.
  • Several countries would surge in the rankings if they could improve business conditions: Brazil, Philippines, Argentina, Bangladesh, Nigeria, and Bolivia. African economies with relatively strong logistics markets and potential – Uganda, Libya, Mozambique, Angola – are severely hamstrung by weak business fundamentals.

“Concerns about emerging markets in 2019 are valid, especially in countries with significant dollar-denominated debt, but as a group these markets are growing at roughly twice the rate of developed economies,” Agility’s Al-Saleh says. “What’s most heartening is that many now appear resilient enough to avoid the sort of contagion we saw spreading among emerging markets in 2013 and 2008.”

Transport Intelligence (Ti), a leading analysis and research firm for the logistics industry, compiled the Index.

John Manners-Bell, Chief Executive of Ti, says: “This year’s Index highlights the range of challenges and opportunities many markets face. The uncertainty which surrounds trading relationships, combined with implementation of new trade barriers, threatens to derail integration of emerging markets with the rest of the world. It is essential that obstructive trade policy does not stand in the way of commercial opportunities which help drive growth in emerging markets.”

2019 Agility Emerging Markets Logistics Index: www.agility.com/2019index

About Agility

Agility is a global logistics company with $5.1 billion in annual revenue and 22,000+ employees in more than 100 countries. It is one of the world’s top freight forwarding and contract logistics providers, and a leader and investor in technology to enhance supply chain efficiency. Agility is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer fuel logistics, airport services, commercial real estate and facilities management, customs digitization, and remote infrastructure services.

For more information about Agility, visit www.agility.com

Twitter: twitter.com/agility

LinkedIn: linkedin.com/company/agility

YouTube: youtube.com/user/agilitycorp

For more information:
Sabrina Mundy
Man Bites Dog
+44 1273 716 826
teamagility@manbitesdog.com

Posted in Agility General Update

Highlights from Think Big, Act Small

Small and mid-market companies are admired for their speed and agility while large companies are envied for scale. Alongside the 2019 World Economic Forum Annual Meeting in Davos, Switzerland, this year, we explored if and how companies can capture the essence of both – the entrepreneurial spirit of start-ups and the strength and relative safety of corporate giants. Is it possible to think big and act small? Agility invited business leaders at the helm of iconic organizations such as Walmart, Philips and Unilever to exchange ideas around growth, leadership and agility with disruptive start-ups and unicorns. View highlights to watch Agility CEO Tarek Sultan explain that SMEs are the way forward, will.i.am describe his ambitious new business venture and the CEO of the largest company in the world explain why he shouldn’t know everything going on in the business he leads.

Click here to watch video

Posted in Agility General Update

Agility India Hosts Second Annual Cold Chain Conference

New passive packing solution launched at event

HYDERABAD, India – February 25, 2019 – Agility, a leading global logistics provider, hosted Pharmerging Expo 2019 and Unbroken Cold Chain – Series II, a conference bringing together over 300 professionals from the supply chain industry.

The gathering, now in its second year, featured five panel discussions on key issues for the life science industry, including perishable and pharmaceutical supply chains, challenges in ocean freight and air freight transhipment hubs.

At the conference, Agility launched and showcased a co-branded passive packaging solution, Agile+, developed in collaboration with PLUSS Advanced Technologies and Tagbox. Agile+ is a shipment box for the pharmaceutical industry that can be used to move highly critical international shipments. Agile+ can keep strict temperature levels for up to 120 hours, and the box’s tracking system provides users with real-time visibility of temperature status and location.

Satish Lakkaraju, Chief Commercial Officer, Agility India, said, “The life science industry is one of Agility’s key verticals, and is particularly important to Agility India, given the large pharmaceutical market here. We wanted to focus the Unbroken Cold Chain event on how the industry can address challenges in air and ocean supply chains as it relates to the pharmaceutical industry – something the conference did successfully.”

As part of the conference, Agility also hosted Pharmerging Expo, an exhibition for the stakeholders of pharmaceutical supply chain. The exhibition had 25 booths from airlines, shipping lines and airports, giving companies the opportunity to display pharma supply chain solutions.

SGK Kishore, CEO and Chairman, GMR Hyderabad International Airport (GHIAL), said, “Both the Pharmerging Expo and the Unbroken Cold Chain – Series II gave premium pharmaceutical cargo and logistics operators the opportunity to collaborate and exhibit the latest information and tools in the growing pharma business. Hyderabad International Airport has always been a preferred destination for pharmaceuticals with more than 60% of cargo being pharma products. GHIAL, as an airport operator, is committed to working with our partners to enable a robust pharma logistics value chain using innovative technology and digital concepts. We thank Agility for organizing this event and welcome all the industry players who participated.”

The Pharmerging Expo 2019 and Unbroken Cold Chain – Series II took place January 28 – 30 at the Novotel Hyderabad Airport. Key sponsors included Emirates SkyCargo, va-Q-tec, Dallas Fort Worth International Airport, GMR Hyderabad Air Cargo & Logistics, Algor Logistics, SkyCell AG, Etihad Cargo, Qatar Airways Cargo, Controlant, Shipa Freight, Novotel Hyderabad Airport, Emball’iso and BATCO CFS.

About Agility

Agility Global Integrated Logistics is one of the world’s top freight forwarders and providers of contract logistics. It offers ocean, air and road freight, warehousing and distribution, and integrated supply chain services in more than 100 countries. Agility GIL also provides specialist solutions for capital projects, oil and gas, chemicals, and fairs and events logistics. GIL and its parent, Agility, are pioneers in emerging markets, and leaders and investors in the use of technology to enhance supply chain efficiency. Agility is a publicly traded company with $5.1 billion in annual revenue.

For more information about Agility, visit www.agility.com

Twitter: twitter.com/agility

LinkedIn: linkedin.com/company/agility

YouTube: youtube.com/user/agilitycorp

Posted in Agility General Update

Agility’s Fourth Quarter 2018 Earnings Webcast

Agility would like to invite you to join its Fourth quarter 2018 earnings webcast on Thursday February 21, 2019 at 2:00 pm (Kuwait), 6:00 am (New York) and 11:00 am (London)

Speaker:
Ehab Aziz, Group CFO

Host:
Rita Guindy, Arqaam Capital

To attend and view the webcast, please click here at least 10 minutes before the beginning of the event.

Click here to join meeting

 

In case you would like to submit your questions ahead of the scheduled webcast, please contact us at investor@agility.com.

 

Sincerely,

Investor Relations Department
Agility Public Warehousing Company

Posted in Agility General Update

Agility Reports Earnings Increases of 18% for 2018, 15% in Q4

FY 2018

(Million KD)

Q3 2017

(Million KD)

Variance

(%)

9 months 2018

(Million KD)

9 months 2017

(Million KD)

Variance

(%)

Revenue 1,550.2 1,407.0 +10.2% 399.8 386.0 +3.6%
Net Revenue 497.8 469.9 +5.9% 123.7 125.7 -1.6%
EBITDA 154.8 135.2 +14.5% 40.8 37.6 +8.4%
Net Profit 81.1 68.5 +18.4% 22.2 19.3 +15.1%
EPS (fils) 56.06 47.31 +18.5% 15.35 13.33 +15.2%

 

KUWAIT – February 16, 2019 — – Agility, a leading global logistics provider, 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%.

Board of Directors Recommendation

Agility’s Board of Directors has recommended a cash dividend distribution of 15% (15 fils per share), along with 15% bonus shares (15 shares for every 100 shares), subject to approval of the General Assembly.

Agility Consolidated Results

“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. Cash flow from operations has been healthy and growing, while free cash flow has been limited as a result of capital expenditure that led to increased borrowing to fund strategic investments. Agility’s dividend recommendation reflects its desire to reward shareholders without inhibiting future business growth.

Sultan said Agility remains committed to achieving its target of $800 million EBITDA. However, the timeline may be stretched beyond 2020. Agility will be exploring different avenues for unlocking and maximizing value for our shareholders, including investments, acquisitions, and public offerings of certain businesses in its portfolio, he said.

Agility Global Integrated Logistics

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%.

In air freight, the fastest growing verticals were fashion, industrial and high-tech. In ocean freight, Agility saw strong trans-Pacific trade lane growth, particularly in anticipation of US-China tariff implementation. However, there was an overall decline in demand and pressure on margins on these same ocean lanes for the second half of 2018. Agility GIL made new contract logistics investments in Australia, China, India and the Middle East in 2018, and has an ongoing effort to drive margin improvements in contract logistics.

In Q4, GIL revenue was KD 293.5 million, flat with Q4 2017. Net revenue increased 2.1% and net revenue margins increased to 23.1% vs. 22.7% in Q4 2017. Performance was driven by strength in freight forwarding, where air and ocean volumes increased 6.9% and 1.4%, respectively, for the fourth quarter. Strength in air freight was a result of high growth across multiple trade lanes and sales channels and especially strong demand from GIL’s strategic customers. During Q4, the US-China trade dispute and tariffs slowed overall air freight growth. GIL had stable ocean freight performance across geographies and sales channels with strong net revenue growth from strategic customers.

GIL continues to invest in technological transformation to improve efficiency and better serve customers. Digital leadership in the logistics industry is the key to its future growth, and the company is investing in its global operating platform, digital transformation strategy, and digital logistics platform.

Agility’s Infrastructure Companies

For full year 2018, Infrastructure group EBITDA grew 8.4% and revenue increased 15%. Agility is investing in these companies to drive its future growth.
Agility Logistics Parks (ALP), previously known as Industrial Real Estate, reported 6.6% revenue growth for the year, despite challenging market conditions. In Kuwait, ALP’s focus is driving the efficiency of existing assets. ALP completed construction and development of 85K sqm of warehousing space in 2018. In Riyadh, ALP completed and delivered 80K sqm of warehousing space and began constructing three facilities of 40K sqm each to be delivered in 2019 and 2020.  In Africa, ALP began construction of new facilities in Ghana, Mozambique and Ivory Coast, which will deliver additional warehousing space of about 70K sqm in 2019.  In addition, ALP added Nigeria as part of its Africa expansion program.
Tristar, a fully integrated liquid logistics company, posted 33.7% revenue growth in 2018, results propelled by full-year impact of certain contracts and new business wins from new and existing customers. Tristar continues to look for opportunities to unlock value for its shareholders.
National Aviation Services (NAS), Agility’s airport services subsidiary, grew revenue 17.3% in 2018. NAS benefitted from strong growth in Afghanistan and India; major turnarounds that yielded positive Q4 results in Morocco and Tanzania; and a full year of operations in Uganda. Performance in Cote d’Ivoire, Liberia, Rwanda and Abu Dhabi was flat. NAS Kuwait operations were affected by increased costs for operational and airport authority requirements, in addition to the suspension of Wataniya Airlines.
United Projects for Aviation Services Company (UPAC), a leading real estate and facilities management company operating in Kuwait, experienced a good year in 2018. Revenue fell 1.9% in 2018 due to lower volumes in Kuwait car park operations due to the recent movement of passenger traffic to the new terminals, but UPAC improved efficiencies in key operations at Kuwait International Airport, Sheikh Saad Terminal and Discovery Mall. Outside Kuwait, UPAC is developing the $1.2 billion Reem Mall project in Abu Dhabi, in partnership with National Real Estate Company (NREC).

During 2018, UPAC signed a five-year, KD 5.4 million concession contract with the Incheon International Airport Corporation (IIAC) for the development, operations and maintenance of the parking lot at Terminal 4 (T4) at Kuwait International Airport.

GCS, Agility’s customs modernization company, posted growth in revenue and EBITDA in 2018. Revenue increased 12.3% as a result of fresh trade activity, plus a new stevedoring contract win with Kuwait Ports Authority. GCS also launched a new brokerage business. It is implementing initiatives to drive efficiency and improve profitability.

Closing

“Agility’s strategy has been consistent over the last several years: drive digital leadership and efficiency improvements in GIL, and invest in expansion and new developments for our logistics parks, fuel logistics, airport services and commercial real estate businesses. As always, we thank our shareholders, customers, employees, and partners for their trust and support in Agility. We look forward to an even better 2019,” Sultan said.

Financial Performance for the full year 2018

  • Agility’s net profit reached KD 81.1 million, an 18.4% increase from KD 68.5 million in 2017. EPS was 56.06 fils, compared with 47.31 fils a year earlier.
  • EBITDA was KD 154.8 million, a 14.5% increase from 2017.
  • Agility’s revenue for 2018 was KD 1,550.2 million, an increase of 10.2% from KD 1,407 million in 2017. Net revenue increased by 5.9%.
  • GIL’s revenue was KD 1,153.1 million, an 8.6% increase from 2017.
  • Infrastructure group revenue was KD 412 million compared with KD 358.2 million in 2017, a 15% increase.
  • Agility enjoys a healthy balance sheet with KD 1,843.2 million in assets. Its net debt position was KD 135.1 million as of Dec. 31, 2018. Operating cash flow was KD 97.7 million for full year 2018.

About Agility

Agility is a global logistics company with $5.1 billion in annual revenue and 22,000+ employees in more than 100 countries. It is one of the world’s top freight forwarding and contract logistics providers, and a leader and investor in technology to enhance supply chain efficiency. Agility is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer fuel logistics, airport services, commercial real estate and facilities management, customs digitization, and remote infrastructure services.

For more information about Agility, visit www.agility.com

Twitter: twitter.com/agility

LinkedIn: linkedin.com/company/agility

YouTube: youtube.com/user/agilitycorp

Posted in Agility General Update

Agility Statement in Regards to Panalpina

Agility confirms that it is in early discussions with Panalpina about partnership opportunities between the logistics businesses of the two companies. Agility is always exploring opportunities to grow its business and maximize shareholder value. No agreement has yet been reached and there are no guarantees that an agreement will be reached.

For more information:

Hirzel.Neef.Schmid.Konsulenten
Andrés Luther
Jürg Wildberger
+41 43 344 42 42
contact@konsulenten.ch

Posted in Agility General Update