Kuwait Business: Agility Q1 net profit rises marginally to $41.69m – Gulf Digital News

Kuwait Business: Agility Q1 net profit rises marginally to $41.69m – Gulf Digital News

Agility, a supply chain services, infrastructure, and innovation company, posted first quarter 2022 net profit of KD12.8 million ($41.69 million), a nominal 1% YoY increase from KD12.6 million over the same period in 2021. The firm’s net included earnings from discontinued operations (GIL).

Its net profit from continuing operations grew at 1,311% compared to same period last year. EBITDA increased 71.7% to KD34 million and revenue increased 22.3%, to KD132.1 million while net revenue rose by 15.3%.

Agility enjoys a healthy balance sheet with KD2.8 billion in assets. Net debt stood at KD385.2 million as of March 31, 2022. Reported operating cash flow was KD22.7 million for the first quarter 2022. The company’s earnings per share was 6.07 fils.

Company reporting

Agility is a multi-business operator and investor. Q1 2022 earnings are the first quarterly numbers reported following completion of the sale of the company’s Global Integrated Logistics unit to DSV.

Going forward, the company will be reporting for two segments: controlled businesses and investments. This new reporting structure, though still evolving, is to help understand the valuation of the company better by looking at the performance of each segment separately.

Controlled: Agility continues to own and operate the businesses that have historically generated 80% of