KUWAIT – November 14, 2019 – Agility, a leading global logistics provider, today reported third-quarter earnings of 13 fils per share on net profit of KD 21.7 million, an increase of 8.4% (or 12.1% excluding IFRS16 impact) over the same period in 2018. Q3 EBITDA grew 20.9% (or 2.8% excluding IFRS16 impact) to KD 47.4 million, and revenue increased 1.6% to KD 400.7 million.
Year to date, earnings were 38.2 fils per share and net profit was KD 63.6 million, up 7.9% (or 11.3% excluding IFRS 16 impact). Year-to-date EBITDA was KD 142.4 million, an increase of 24.9% (or 6.4% excluding IFRS 16 impact). Revenue for the first three quarters was KD 1,175.8 million, an increase of 2.2%.
“Our Infrastructure portfolio of companies drove our results in the third quarter, with all major entities seeing growth. Our Global Integrated Logistics (GIL) business, on the other hand, was affected by challenging market conditions and trade-war headwinds that have affected the industry as a whole,” Tarek Sultan, Agility Vice Chairman and CEO, said. “Even so, GIL is moving forward aggressively with its digitization agenda to improve operational efficiency and drive a better customer experience.”