Agility Holds its Annual General Assembly Meeting

KUWAIT, 31 May 2023 – Agility, a long-term investor and operator in supply chain services, infrastructure, and innovation, held today its Ordinary Annual General Assembly Meeting, with a quorum of 67.432%. The Extraordinary General meeting will be adjourned to June 7, 2023, since the quorum was not met.

The company’s shareholders approved all items on the agenda, including Agility’s audited financial statements, and the Board of Directors’ recommendation for not distributing dividends for the fiscal year ending December 31^st 3022.

Agility reported full-year 2022 earnings of 26.83 fils per share on net profit of KD 68 million. EBITDA increased 65.7% to KD 180.5 million, and revenue grew 77.6% to KD 863.4 million.

Agility Vice Chairman Tarek Sultan said: “It’s important to emphasize that we take a long-term view in value creation. When it comes to our controlled businesses, the acquisitions we have done in 2022, helped us accelerate growth, expand our geographic reach, and increase our exposure to sectors that have strong future growth potential. On the investments side, stock market volatility affected our holdings, but we look beyond daily share price movements to the strategic value, growth and returns we believe our investments will deliver for our shareholder over the long-term.”

“As always, we thank our shareholders, customers, employees, and partners for their trust and support in Agility,” Sultan said.