An agile financial performance in 2023
The Kuwait-based supply chain service provider Agility reported a successful performance in 2023, with its net profit totalling USD 270 million. Ebitda was up by 42.4% to over USD 835 million despite macroeconomic challenges. In particular, the company’s investments benefitted from an uplift in equity markets towards the end of the year.
Agility’s stake in DSV was a major pillar of growth which, if taking its pro rata share of DSV’s ebitda into account, would boost the company’s own ebidta by almost USD 293 million.
Furthermore, Agility’s controlled businesses in the aviation services and fuel logistics segments also experienced growth thanks to a recovering air travel market. “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,” says VC Tarek Sultan. (mk)