Agility Press Room
Agility Announces Financial Results for Q1 2013 

 

29 April 2013

 

KUWAIT Agility (AGLTY), a leading global logistics provider, today announced its financial results for the first quarter of 2013. The company reported a net profit of KD 10.1 million and earnings per share (EPS) of 10.19 fils, up 46% and 47% respectively over the same period last year. Revenue and EBITDA stand at KD 352.6 million and KD 21.6 million, respectively, up 10% and 36% over Q1 of 2012.


“We are pleased to report that we are continuing on a healthy growth trajectory,” said Tarek Sultan, Agility’s Chairman and Managing Director. 2013 has started off on the right track and we are making progress against our goals in both the core commercial business and our Infrastructure group of companies.”


Financial Highlights

  

Quarterly Result

 

Q1 2013

(Million KD)

Q1 2012

(Million KD)

Variance

Q1 2013 v Q1 2012 (%)

Revenue

352.6

321.8

+ 10%

EBITDA

21.6

15.9

+ 36%

Net profit

10.1

6.9

+ 46%

EPS (fils)

10.19

6.92

+ 47%


 Figures in the table above have been rounded


Agility Global Integrated Logistics (GIL)


Agility’s core Global Integrated Logistics (GIL) business revenue increased by 7% in Q1 2013, relative to the same quarter last year.


Despite the ongoing weakness of the global economy, Agility GIL has expanded its customer base and reach over this last quarter. For example, Agility won a three-year contract with Shell, estimated at $80 million, to manage freight forwarding from different locations around the world to the Mainoon Oil Field in Iraq. Agility was also awarded a five-year contract to provide warehousing services to Universal, a home appliance provider in Egypt, with an estimated contract revenue of $9.7 million.


Agility’s goal is to realize GIL’s full potential over the next three to five years by sustaining momentum in the execution of its commercial strategy, maintaining financial discipline and accelerating technological transformation to drive productivity and customer service. GIL’s competitive advantage is its strong platform in emerging markets, which continue to drive global growth.


Agility Infrastructure


Agility's Infrastructure group contributed KD 57 million to total revenue in Q1 2013, a 20% increase over the same period last year.

 
Companies in the Infrastructure portfolio continue to show healthy growth. Agility’s Real Estate business, the most significant financial contributor in the Infrastructure group of companies, increased its revenues by 14% relative to Q1 2012.


Agility’s Infrastructure companies occupy profitable niches in the marketplace and, as a group, serve as a healthy hedge against volatility in the global economy.


Recapping Financial Performance

  • - Net profit is KD 10.1 million for Q1 2013, as compared to KD 6.9 million for Q1 2012. This results in EPS of 10.19 fils for Q1 2013, compared to an EPS of 6.92 fils in Q1 2012.
  • - EBITDA stands at KD 21.6 million for Q1 2013, an increase of 36% from same period last year.
  • - Agility’s revenue in Q1 2013 is KD 352.6 million, a 10% increase over Q1 2012.
  • - Agility GIL revenue in Q1 2013 is KD 297.0 million, a 7% increase from same period last year.
  • - Agility's Infrastructure companies contributed KD 57.1 million to total revenue in Q1 2013, an increase of 20%.
  • - Operating cash flow and free cash flow generated during the quarter were KD 23.4 million, KD 26.0 million respectively.

Investor Relations Contacts:


Henadi Al-Saleh
Agility, Kuwait
HaAlSaleh@agilitylogistics.com


Soriana Borjas
Agility, Kuwait
SBorjas@agilitylogistics.com  


About Agility

Agility brings efficiency to supply chains in some of the globe’s most challenging environments, offering unmatched personal service, a global footprint and customized capabilities in developed and developing economies alike. Agility is one of the world’s leading providers of integrated logistics. It is a publicly traded company with $4.8 billion in revenue and more than 22,000 employees in 500 offices across 100 countries.

Agility’s core commercial business, Global Integrated Logistics (GIL), provides supply chain solutions to meet traditional and complex customer needs. GIL offers air, ocean and road freight forwarding, warehousing, distribution, and specialized services in project logistics, fairs and events, and chemicals. Agility’s Infrastructure group of companies manages industrial real estate and offers logistics-related services, including e-government customs optimization and consulting, waste management and recycling, aviation and ground-handling services, support to governments and ministries of defense, remote infrastructure and life support.

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