Abu Dhabi – Mubasher: Agility Global, a multi-business operator with a global footprint in over 70 countries, has achieved a net profit of $60.30 million in the first half (H1) of 2024.
The semi-annual results marked a 2,156% jump from $2.70 million in H1-23, according to a press release.
Agility Global generated revenues worth $2.08 billion in H1-24, which came 11% higher than $1.88 billion in the year-ago six months (6M).
The earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by 31.20% year-on-year (YoY) to $336.90 million during January-June 2024 compared with $256.90 million.
The earnings per share (EPS) stood at 0.78 cents in H1-24, signalling a 2,500% leap from 0.03 cents in H1-23.
Financial Results for Q2-24
During the second quarter (Q2) of 2024, Agility Global turned profitable at $29.80 million against net losses worth $4.50 million.
The net income was equivalent to 0.29 cents per share in Q2-24 versus a loss per share of 0.04 in Q2-23.
The EBITDA grew by 28.40% YoY to $167.40 million during April-June 2024 from $130.30 million.
Chairman of Agility Global, Tarek Sultan, said: “Agility Global continues to report strong results in the second quarter of the year. Our largest owned and operated businesses, namely Menzies, Tristar and Agility Logistics Parks, reported double-digit EBITDA growth, in-line with their individual business strategies for growth.”
Agility Global reported revenues worth $1.10 billion in Q2-24, marking a 16.20% increase from $953.50 million in Q2-23.
Sultan added: “The net value of our investments, reported through our balance sheet, remained stable in spite of volatility in equity markets.”
The Chairman concluded: “We continue to look at growth opportunities, with a particular focus on building strategic infrastructure and strengthening the competitiveness of the portfolio businesses.”
It is worth highlighting that Agility Global has a portfolio of diversified international assets that includes Menzies Aviation, the world’s largest aviation services company; Tristar, a global fuel logistics business; and Agility Logistics Parks, a leading logistics parks developer and operator across the Middle East, Africa, and South Asia.
This is in addition to other businesses in digital logistics, e-commerce logistics, remote-site services, and public-sector logistics.
The entity operates across six continents with a workforce of 50,000 employees.
