Program introduces students to business, social entrepreneurship

KUWAIT – SEPT. 3, 2024 – Agility, a supply chain services, infrastructure and innovation company, announced the successful completion of its sponsorship of the ninth edition of the KON Social Entrepreneurship Program, organized by LOYAC. The program, which wrapped up last week, provided 50 students aged 12 to 16 with five weeks of intensive training in business management skills.

Designed in partnership with Babson College—a U.S. institution of higher learning that specializes in entrepreneurial leadership—the KON program aims to immerse young students in essential business skills. Participants gain leadership, communication, and critical thinking skills through hands-on workshops led by experienced industry professionals.

This year’s program showcased exceptional presentations from participating students, making the task of selecting the winning teams particularly challenging for the judging committee. Comprised of members from the sponsoring companies, including Agility, the judging committee was thoroughly impressed by the high caliber of work and effort presented by the students.

Since 2006, Agility has been a strategic partner of LOYAC, supporting Kuwaiti youth through specialized courses and initiatives in financial literacy and entrepreneurship. Agility’s commitment to education and skill-building has positively impacted over 687,000 young people since 2014. Nearly 50% of those in the program have been girls and young women.

Agility backs community-enabling initiatives and has partnerships in Kuwait, Saudi Arabia, Côte D’Ivoire, Ghana, India and Egypt, among other countries. In the last decade, Agility has reached more than 2.3 million people, providing funding for youth education, entrepreneurship, employment and digital training, and responding with resources in the aftermath of natural disasters and complex humanitarian emergencies.

Company’s donations have provided roughly 1 million meals since start of the conflict

GAZA / DUBAI – The World Food Programme (WFP) has welcomed a new financial contribution from their longstanding partner Agility, a supply chain services, infrastructure and innovation company, to support WFP’s operations in Palestine. This donation will contribute to WFP’s efforts to provide essential food assistance to those suffering in one of the worst hunger crises the world is facing today.

With this latest contribution from Agility, WFP will be able to provide nearly 779,000 hot meals in Gaza ensuring that the most vulnerable populations receive the necessary support amidst ongoing challenges. This will bring the total donations by Agility and its employees to 1 million meals since the start of the current crisis in October last year.

“Agility’s generous contribution comes at a crucial time for Palestine, where food insecurity and humanitarian needs are escalating. This support will have an impact on our efforts to provide life-saving assistance to those who need it most. The involvement of the private sector, particularly leaders like Agility, is vital in helping us address these challenges and achieve our mission of zero hunger.” said Mageed Yahia, WFP Representative to the GCC.

The latest WFP Integrated Food Security Phase Classification (IPC) report finds that 96 percent of the population is facing acute food insecurity at crisis level or higher (IPC Category 3+), with almost half a million people in catastrophic conditions (IPC Category 5).

Adequate and sustained levels of humanitarian assistance must be provided, including more fresh food, better nutritional diversity, clean water and sanitation, access to health care and the rebuilding of clinics and hospitals.

“Agility supports WFP’s efforts to save lives by delivering critical humanitarian assistance around the world. We’ve worked closely with WFP in more than 20 countries since we became a WFP partner in 2008, focusing our support on WFP’s food assistance program and supply chain services that provide logistics resources to the broader humanitarian community. WFP’s brave, committed staff brings assistance to communities in dire need, often amid conflict. In Gaza, WFP is leading efforts to prevent famine and further suffering,” said Tarek Sultan, Agility Vice Chairman.

Agility has been a long-standing partner of WFP, consistently demonstrating its commitment to humanitarian causes. As a member of the Logistics Emergency Teams (LETs) and through its bilateral partnerships, Agility has supported over 75+ humanitarian crises by providing free logistics expertise and services such as transportation and warehousing. This partnership, which began in 2008, has been instrumental in enhancing WFP’s emergency response capabilities.

In addition to its involvement with LET, Agility has made several direct contributions to WFP over the years, a testament of its unwavering support and dedication to humanitarian efforts.

In July alone, WFP assisted 1.1 million people. Nearly 1 million people in Gaza received in-kind food rations, while nearly 150,000 in the West Bank received cash-based transfers.

WFP needs $303 million between now and the end of the year to be able to provide critical support for Gaza and the West Bank.

About the World Food Programme:

The World Food Programme is the world’s largest humanitarian organization, saving lives in emergencies and using food assistance to build a pathway to peace, stability, and prosperity for people recovering from conflict, disasters, and the impact of climate change.

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Numbers above are rounded.

KUWAIT – August 15, 2024 – Agility, a supply chain services, infrastructure and innovation company, today reported Q2 2024 EBIT of KD 38.6 million a 3% increase from the same period a year earlier and revenue of KD 375.4 million an increase of 14.5% from Q2 2023.

Agility’s Net profit for Q2 2024 stood at KD 6 million or 2.4 fils per share. Note this quarter’s net profit is not comparable to the previous year due to the increase in minority interest as a result of the inkind dividends distribution of Agility Global PLC.

For the first 6 months of 2024, earnings were KD 24.7 million, or 9.89 fils per share, EBIT grew 11% to KD 84.6 million and revenue increased 9.8% to KD 711.7 million.

Financial Reporting  

The in-kind dividends distribution that was announced in Q1 was effective on May 2^nd, 2024, the Listing Day of Agility Global PLC and accordingly the impact of this has been reflected in the company’s financials in Q2 2024, thus seeing a higher Minority interest starting this quarter.

Latest Update

“Agility has demonstrated strong growth in the first half of the year as we continue to seize new opportunities in Kuwait, including a 17-year contract under which UPAC will operate the Messila Beach Site Project (Plage-2). MRC is also poised to increase its volumes with a new integrated waste recycling facility, spanning over 500,000 square meters, slated to open in Q4 2024. On the back of this news, S2 continues to lead a 30-year contract for the South Village project in Sabah Al-Ahmad City, which is the first integrated logistics and crafts zone spanning 1.28 million square meters. We are pleased with the company’s business growth and expansion in Kuwait and look forward to achieving further growth that delivers the best value to Agility’s shareholders,” said Agility Vice Chairman Tarek Sultan.

“We are seeing double-digit EBITDA growth in Menzies. Menzies has grown in the Americas, Europe, Middle East and Africa, and Asia, off the back of solid commercial growth, the launch of new operations, and new contract wins. Tristar is also seeing double-digit EBITDA growth as a result of new contracts and business expansion with existing clients, with fuel farms and maritime delivering particularly strong results. Agility Logistics Parks’ international business expansion was driven mainly by its Saudi Arabia operations, which is experiencing increased demand for warehousing space.”

Recap of Agility KSCP Q2 2024 Financial Performance

• Agility’s net profit was KD 6 million and EPS was 2.4 fils.
• Agility’s EBIT increased 3% and EBITDA increased 4.9% to KD 63.4 million.
• Agility’s revenue increased 14.5% to KD 375.4 million and net revenue increased 18.9%.
• Agility enjoys a healthy balance sheet with KD 3.8 billion in assets.
• Agility reported an operating cash flow of KD 80 million for the first half of 2024.

• One of Kuwait’s prime entertainment destinations for families that TEC developed
• UPAC will manage and operate the project for 17 years
• The project spans over 70,000 SQM in a prime location on Messila Beach

KUWAIT – 18 July 2024 – Touristic Enterprises Company (TEC) and United Projects for Aviation Services Company (UPAC), a commercial real estate and facilities management company, today signed a 17-year contract under which UPAC will operate the Messila Beach Site Project (Plage-2), one of Kuwait’s prime entertainment destinations for families that TEC developed as part of its leading role in spearheading the growth and development of the country’s tourism sector.

Nadia Akil, UPAC Chief Executive Officer, and Abdullah Jafar, TEC Acting Chief Executive Officer, signed the agreement at TEC headquarters in Shuwaikh in the presence of representatives from both companies.

Developed and built by TEC, the project spans over 70,000 SQM in an easily accessible prime location on Messila Beach, and aims to be a popular entertainment destination for Kuwait’s residents. UPAC will handle leasing, facility management, and project operations for the duration of the 17-year contract.

The Messila Beach Site Project (Plage-2) consists of two swimming pools, a wave pool, various sporting activities, and commercial areas for restaurants, cafes, and shops. The property also includes a multi-purpose events hall, an expansive beach, a day-use chalet, and management offices, in addition to 350 shaded parking spots.

H.E. Sheikh Mohammed Al-Salman Al-Homoud Al-Sabah, TEC Chairman, said that TEC is developing projects that enrich the entertainment, social, and tourism sectors in Kuwait, affirming that TEC’s development of Messila Beach is part of a series of projects aimed at enhancing Kuwait’s tourism sector.

“TEC’s work contributes to Kuwait’s goal of developing its economic and tourism capabilities that promote sustainable and comprehensive growth while improving citizens’ welfare and satisfaction through new and innovative projects,” said Sheikh Mohammed Al-Salman. He emphasized the importance of providing visitors with high-quality services as well as unique cultural and tourism experiences.

Messila Beach is expected to open after a six-month handover to UPAC. At a later stage, UPAC will provide information on operating hours, ticket costs, on-site entertainment, and retail opportunities.

UPAC’s Akil said: “We are thrilled to have won the contract to operate the property developed by TEC. This is a significant opportunity for UPAC to support Kuwait’s tourism sector and expand the country’s entertainment and family-focused options. Messila Beach holds a special place in everyone’s memories, and with the new project, we aim to rekindle those cherished moments.”

“The Messila Beach project enables us to grow and diversify our portfolio beyond our existing contracts and expands our presence in the entertainment and facilities management sectors. UPAC’s strength is project management, and we are excited to leverage this expertise in this new venture.”

Akil added: “Messila Beach will provide Kuwait’s citizens and residents with a safe, fun environment for family entertainment. Our teams will be working closely alongside TEC to ensure that we provide the public with a memorable experience.”

In Kuwait, UPAC manages the operations of Kuwait International Airport’s Terminal 1 (T1) airport mall, parking, and related facilities, as well as the management of real estate and parking facilities at the Sheikh Sa’ad Airport Terminal (T3).

UPAC is a co-investor and developer of Abu Dhabi’s US$1.3 billion Reem Mall on Reem Island. The mall is the region’s first fully integrated omnichannel retail ecosystem with digital, e-commerce, and logistics capabilities.  It also boasts a unique entertainment offering, including the largest Snow Park in the UAE. Reem Mall brings together all consumer and retail services to ensure a seamless customer experience.

Green warehouses, net-zero commitments, enhanced diversity, and digital skill building in the community highlight company’s environmental, social progress

KUWAIT – July 1, 2024 – Agility, a supply chain services, infrastructure and innovation company, released its 2023 Sustainability Report, showing the company has made significant progress in environmental and social responsibility.

Agility’s latest sustainability report highlights the company’s robust efforts in environmental stewardship, strategic infrastructure development, and commitment to diversity and inclusion.

Environment

The report outlines commitments by two of Agility’s largest businesses – Menzies Aviation and Tristar – to achieve net-zero emissions. Menzies and Tristar accounted for roughly 74% of Agility’s 2023 revenue. Menzies, which provides in-plane fueling and other ground services for commercial aviation, is playing a key role in aviation industry decarbonization. It is helping to advance lower-carbon aviation by submitting its first net-zero targets to the Science Based Targets initiative (SBTi), and aims to convert 25% of its motorized ground support equipment (GSE) to electric power by 2025.

Fuel logistics provider Tristar, meanwhile, has expanded its investment in solar energy at its Dubai headquarters, boosting its capacity to nearly 1mWh and eliminating emissions of approximately 650 tons of CO2 annually. Tristar has commissioned the first hybrid bunker barge in the UAE.

Agility Logistics Parks demonstrated its commitment to energy efficiency, conservation and waste management in the Middle East and Africa by developing the GCC’s first “zero-carbon ready” warehouse in Riyadh, Saudi Arabia and West Africa’s first zero-carbon ready warehouse in Abidjan, Cote D’Ivoire. Both facilities received EDGE Advanced “green building” certification.

People

At the Group level, Agility is making strides in promoting gender diversity. Women represent 16.7% of the company’s Board of Directors and 25.1% of its workforce, significant in traditionally male-dominated industries. Menzies, Agility’s largest business by headcount, has a workforce that is 29% female and aims to have 25% of senior leadership roles held by women by 2025, in line with the 25by2025 targets of the International Air Transport Association (IATA).

Agility businesses remain deeply committed to health, safety and fair labor standards. Ninety-five percent of the company’s eligible employees have completed human rights training; and 90% took part in health and safety training over the past three years. Tristar’s health and safety performance was recognized with two gold medals at the Royal Society for the Prevention of Accidents Awards. In 2023, Menzies serviced more than 1.3 million aircraft turns, over 217 million airline passengers, and moved 2 million tonnes of cargo – all while outperforming the industry average for operational safety performance, and with an aircraft damage rate 15 times lower than the industry average.

Supply Chain Sustainability

Agility has implemented new supplier sustainability requirements that cover two-thirds of its spending on goods, services, and materials for Agility parent company and subsidiaries Agility Logistics Parks, Global Clearinghouse Systems, Metal Recycling Company, and Shipa. All new suppliers for Menzies and Tristar are screened for sustainability criteria. Starting in 2024, all new contracts must adhere to stricter sustainability standards, ensuring a greener and more responsible supply chain.

Community

Agility’s community investments reached over 185,500 people in 2023. They focused largely on education, training, and support for women and young people. Agility-backed programs provided digital skills and job training to more than 93,000 women and girls. In addition, the company continues to support humanitarian aid and refugee assistance, providing critical resources and support in regions affected by crises.

Mariam Al Foudery, Group Chief Marketing Officer, said: “The targets that Agility has set at the Group level and in its business units are intended to make a tangible impact on the environment and the communities where we operate. This year’s achievements, from pioneering zero-carbon ready infrastructure to advancing diversity, reflect our unwavering commitment to sustainable growth and innovation. We are proud to be leading the way in creating a cleaner, greener, safer, more diverse and responsible future.”

Menzies Aviation, Tristar and Agility Logistics Parks and Agility’s other international assets are now managed by Agility Global, a 51%-owned Agility subsidiary that began trading on the Abu Dhabi Securities Exchange in May.

KUWAIT – May 28, 2024 – Agility, a global leader in supply chain services, infrastructure, and innovation, held today its Ordinary Annual General Assembly Meeting for the year 2023, with a quorum of 65.6%.

The company’s shareholders approved all items on the agenda, including Agility’s audited financial statements, and the Board of Directors’ recommendation to distribute a cash dividends of 10%, equivalent to 10 fils per share for the year 2023. Those dividends are eligible for shareholders registered on the company’s shareholders’ records on the settlement date which is June 13^th 2024.

Agility Vice Chairman Tarek Sultan said: “Agility delivered on a track record of positive momentum in 2023, despite ongoing volatile markets and the challenging macro environment. Agility ended the year with a 42.4% growth in EBITDA, driven by strong performance across our operating entities. 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.”

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

Agility reported full-year net profits of KD 83.6 million, or 32.7 fils per share, an increase of 22%. Full-year EBITDA was up 42.4% to KD 257.2 million and revenue increased 56.7% to KD 1,353 million.

Numbers above are rounded.

KUWAIT – May 15, 2024 – Agility,  a supply chain services, infrastructure and innovation company, today reported Q1 2024 earnings of KD 18.7 million, or 7.32 fils per share, a 22% increase from same period a year earlier. First quarter EBITDA grew 17.2% to KD 70.8 million and revenue increased 4.9% to KD 336.3 million. This growth is driven by performance of Agility’s main entities, each pursuing its own road map to achieve further growth.

Latest Update

On May 2, 2024, Agility announced the listing of its subsidiary, Agility Global PLC, on the Abu Dhabi Securities Exchange (ADX) under the ticker symbol <AGILITY>. Agility owns 51% of Agility Global and will consolidate the company’s accounts.

“The listing of Agility Global on the ADX crystalizes the value of Agility’s international assets and enables the company to access additional capital markets to drive further growth,” said Tarek Sultan, Agility Vice Chairman and CEO. “Each of Agility’s subsidiaries will be pursuing different road maps to invest and grow further”. Agility KSCP is the majority shareholder of Agility Global PLC and its financials will be consolidated with the group’s financials.

Financial Reporting  

The in-kind dividends distribution was effective on May 2^nd 2024, the Listing Day of Agility Global PLC and accordingly the financial impact was not reflected in the first quarter results and will be reflected in the company’s financials starting Q2 2024.

Recap of Agility KSCP Q1 2024 Financial Performance

• Agility’s net profit was KD 18.7 million, an increase of 22%, and EPS was 7.32 fils.
• Agility’s EBITDA increased 17.2% to KD 70.8 million.
• Agility’s revenue increased 4.9% to KD 336.3 million and net revenue increased 18.9%.
• Agility enjoys a healthy balance sheet with KD 3.9 billion in assets.
• Agility reported an operating cash flow of KD 25.9 million for the first quarter of 2024.

KUWAIT – MAY 2, 2024 – Agility Public Warehousing Company KSCP (“Agility”) announced the start of trading for its subsidiary, Agility Global PLC (“Agility Global”), on the Abu Dhabi Securities Exchange (ADX), one of the fastest growing stock exchanges in the world.

On March 27th, Agility announced an in-kind dividend distribution of shares representing 49% of the issued share capital in Agility Global, estimated at KD 800 million (USD 2.6 billion).

For FY 2023, Agility Global had revenues of USD 3.9 billion (KD 1.21 billion), EBITDA of USD 0.6 billion (KD 0.19 billion), 50,000 employees and operations in 70+ countries. The book value of the company is AED 19.6 billion.

Agility Global’s valuable international assets include Menzies Aviation, the world’s largest aviation services provider, Tristar , a global leader in fuel and chemicals storage, shipping and logistics, and Agility Logistics Parks, a leading owner and developer of industrial real estate in the Middle East, Africa and South Asia. Agility Global’s portfolio also includes a 9% stake in DSV, the world’s third-largest freight forwarder.

Agility (ticker symbol: AGLTY), listed on the Kuwait Stock Exchange and Dubai Financial Market, will remain the controlling shareholder in Agility Global (ticker symbol: AGILITY) with a 51% stake and consolidate Agility Global results in its financial reporting.

Agility Vice Chairman, Tarek Sultan said: “Agility, a global company proudly based in Kuwait, will continue to invest and grow in the country, supporting the government’s Kuwait Vision 2035.

The listing of Agility Global on the ADX crystalizes the value of our assets and enables the company to access additional capital markets to drive further growth. Agility Global’s new listing is a milestone in the ongoing growth and value creation journey that began for us in Kuwait in 1997.

Agility Global’s listing gives global and regional investors an additional opportunity to be part of the Agility growth story going forward and rewards our existing shareholders in Kuwait and beyond. As always, we thank our shareholders, customers, employees, and communities for the faith and trust they have demonstrated in us and are committed to continuing to drive sustainable and long-term shareholder value and returns.”