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KUWAIT – November 13, 2024 – Agility, a supply chain services, infrastructure and innovation company, today reported Q3 2024 EBIT of KD 44.8 million. This represents a 33% increase from the same period a year earlier. Revenue for the same period stood at KD 411 million which represents a 14% increase from Q3 2023.

Agility’s third-quarter net profit stood at KD 10.1 million or 4.04 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 in-kind dividends distribution representing 49% of Agility Global PLC.

For the first nine months of 2024, earnings were KD 34.8 million, or 13.93 fils per share, EBIT grew 18% to KD 129.4 million, and revenue increased 11% to KD 1,122.7 million.

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Agility Vice Chairman Tarek Sultan said: “Agility’s performance in Q3 has continued to deliver strong results as our operating entities grow and seize new opportunities.

Agility Global, our main subsidiary, reported 36% EBIT growth, driven by the performance of its three largest businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia; Tristar has also shown good growth; and ALP grew in Saudi Arabia and is expanding in the Kingdom. On the investment side,  DSV’s share price increased on the news of DSV’s acquisition of Schenker , resulting in an increase in the carrying value of Agility Global’s investments.”

Sultan said other entities within Agility, mainly in Kuwait, are pursuing their growth strategies and looking for opportunity to deliver the best value and return for shareholders.

Recap of Agility KSCP Q3 2024 Financial Performance

• Agility’s net profit was KD 10.1 million and EPS was 4.04 fils.
• Agility’s EBIT increased 33% and EBITDA increased 19% to KD 70 million.
• Agility’s revenue increased 14% to KD 411 million and net revenue increased 22%.
• Agility enjoys a healthy balance sheet with KD 4.1 billion in assets.
• Agility reported an operating cash flow of KD 148.1 million for the first nine months of 2024.

Parties agree to study need for new freight and logistics infrastructure near Riyadh

RIYADH – OCT. 13, 2024 – Agility, a supply chain services, infrastructure and innovation company, signed a memorandum of understanding with the Saudi Railway Company (SAR) today to look at requirements for inter-modal storage, transportation and processing facilities near Sudair City for Industry and Businesses and near King Khalid International Airport.

Under its Vision 2030 national strategy, Saudi Arabia has set out to establish itself as a global hub for logistics and trade through massive investment in the modernization and expansion of its logistics and transportation infrastructure.

“Saudi Arabia is rapidly moving toward achieving its goal to be one of the world’s most important centers of trade, transportation and logistics,” said Agility Vice Chairman Tarek Sultan. “Agility has been a long-time supporter, partner and investor in the Saudi logistics sector. We have decades of experience here, and we’ve built some of the Kingdom’s most advanced logistics infrastructure. We see a future where Saudi and the region lead the world’s supply chain sector. We thank SAR for giving us the opportunity to be part of this future and the opportunity to contribute to Saudi’s growth and success story”

Agility has been investing in Saudi Arabia for two decades. Its Agility Logistics Parks (ALP) business developed and operates world-class logistics parks and warehousing facilities in Riyadh and Dammam. A third large ALP complex is under construction in Jeddah. Agility’s Riyadh Logistics Park includes “green” buildings that are the first EDGE Advanced-certified warehousing in the GCC.

Other Agility businesses serve Saudi Arabia’s energy, aviation and e-commerce sectors. The company’s corporate venture arm is an investor in Saudi startups in e-commerce and digital freight matching for the trucking industry.

Last year, Agility signed an MOU with the Ministry of Investment of Saudi Arabia (MISA) to strengthen the Saudi healthcare sector by expanding digital health services, localizing the medical technology supply chain, and promoting the transfer of critical supply chain and healthcare knowledge through new services, technology, investment and jobs.

Agility also is one of the largest shareholders in DSV, a global logistics provider and key logistics partner of NEOM, the ultra-modern, smart mega-city project near the Red Sea in the northwest part of the Kingdom.

Project will add 100K SQM to Kingdom’s most advanced warehousing complex

RIYADH – Oct. 13, 2024 – Agility, a global leader in supply chain services, infrastructure and innovation, announced plans for the final phase of expansion at the Agility Logistics Parks (ALP) warehousing complex in Riyadh.

The expansion project represents an investment of 250 million SAR and will add 100,000 SQM of Class A warehousing to the complex, taking the total available 551,368 SQM. The first phase of the expansion will be ready and operating in Q1 2025. It is expected to create 300 new jobs for Saudis.

ALP developed and operates state-of-the-art warehousing complexes in Riyadh and Dammam. The company is investing more than 611 million SAR to build a third ALP complex, near Jeddah.

Michel Saab, global CEO of Agility Logistics Parks, said the help and collaboration of the Royal Commission for Riyadh City (RCRC), the Ministry of Investment (MISA), and the Riyadh region municipality were vital to the launch of the ALP expansion in Riyadh.

“ALP’s expansion in Riyadh is not just about increasing our operational capacity,” Saab said. “It represents a substantial contribution to the growth of the logistics market in Saudi Arabia and will allow international companies to invest in their growth in the Kingdom. By building world-class warehousing, we are able to provide critical infrastructure that is helping to make the Kingdom a global and regional logistics hub.”

ALP offers some of Saudi Arabia’s most modern, sustainable warehousing. Its Riyadh Logistics Park is home to storage, distribution, processing and fulfillment operations of some of the country’s leading consumer, industrial and e-commerce brands. In 2022, a warehouse at the Riyadh park became the first building in the Kingdom and the first warehouse in the GCC to receive EDGE Advanced certification.

EDGE (Excellence in Design for Greater Efficiencies) is the global standard for energy-efficient buildings, a certification system overseen by the International Finance Corp. (IFC), an arm of the World Bank. EDGE Advanced buildings are “zero-carbon ready” structures that are at least 40% more energy efficient than others in the market.

Successful conclusion of Kuwait Codes and Academy X programs

KUWAIT – Oct. 7, 2024 –  Agility, a supply chain services, infrastructure and innovation company, announced the successful conclusion of its sponsorship of the CODED Academy programs, Kuwait Codes 2024 and Academy X. The programs provided free training to more than 1,300 aspiring programmers in Kuwait, equipping them with modern programming languages and techniques.

More than 1,000 high school students participated in Kuwait Codes 2024, where they gained foundational programming skills. In addition, Academy X introduced coding to 340 female students, ages 14 to 18, fostering interest in technology and programming among young women in Kuwait.

At the closing ceremony, Agility celebrated student achievements by presenting the “Most Technically Challenging” award for Kuwait Codes 2024 and the “Outstanding Student” award for Academy X. Throughout the program, Agility’s executives played an active role in inspiring the next generation of tech innovators.

Agility Chairperson Henadi Al-Saleh led a hands-on workshop on tech and entrepreneurship, encouraging students to think boldly about their futures.  Agility Corporate Ventures executive Lamia Hayat guided students through the fundamentals of venture capital, sharing insights on how it drives innovation in the tech world.

Agility’s sponsorship of the Kuwait Codes 2024 and Academy X programs is part of the company’s on-going commitment to the upskilling of Kuwaiti youth. To date, the company’s sponsorships have benefited 7,000 people, half of whom are girls or women. Agility  has a long-standing record of commitment to youth in Kuwait through educational programs, capacity-building initiatives, and knowledge transfer. Its efforts align with Kuwait’s development plan and are designed to equip students and young professionals with crucial skills, preparing them for the job market and enabling them to contribute to Kuwait’s growth and development.

Agility’s educational sponsorships focus on three pillars: enhancing programming and technical skills, promoting financial literacy and providing training in the industrial sector and facility management. Agility has formed partnerships with LOYAC, INJAZ Kuwait, the Kuwait Industries Union (KIU), and the Public Authority for Youth, ensuring a broad and lasting impact.

Since 2014, Agility’s commitment to education and skill-building has positively impacted over 687,000 young people. Nearly 50% of those taking part have been girls and young women.

In 2024, Agility renewed key sponsorships and launched targeted training initiatives. The company continued its support for the LOYAC’s KON and KONTINUE entrepreneurship programs and, for the second year, Agility offered intensive facility management training to young Kuwaitis and university graduates in partnership with the Public Authority for Youth. Agility also supported the 13th edition of Knights of Industry, a training initiative by the Kuwait Industries Union that guides high school graduates towards careers in industrial sectors.

Digital platform will provide one-stop shop for Zone companies & investors

CAIRO – OCT. 2, 2024 – The European Bank for Reconstruction and Development (EBRD) has selected Transfora, a leading provider of business process automation, to develop a digital operations platform for the Suez Canal Economic Zone (SCZONE), a key milestone in the Egyptian government’s effort to transform the Zone into a global logistics and trade hub.

The SCZONE’s multi-year year contract with Transfora is being funded by the EBRD, a multi-lateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents.

Under terms of the contract, Agility will deliver Transfora, a 360-degree enterprise management platform that the SCZONE will use to manage inquiries from prospective investors and key investor documentation. Transfora also will be used to generate reports and analytics, and to manage the deployment of over 60 e-services offered by the SCZONE’s one-stop shop to both potential and existing investors.

Agility Economic Zones will connect SCZONE authorities, customs officials and regulators with investors, carriers, logistics-services providers, shippers and companies that have manufacturing, assembly and processing operations in the zone.

“We are very pleased to engage Agility to support the SCZONE in its digital transformation journey, representing a key milestone in enhancing the investment climate and competitiveness of both the Zone and Egypt leading to attracting high-quality foreign direct investment and job creation,” said Khalid Hamza, Director of Egypt for the EBRD.

Crucial backing from the EBRD and Egyptian government will enable rapid deployment of the Transfora platform. Automation of zone operations are expected to significantly improve efficiency in trade flows and compliance, in addition to elevating standards and improving data collection.

SCZONE Chairman Waleid Gamal El Dien said: “We are keen to enhance partnerships and cooperation with EBRD, Agility, Transfora, and all the concerned parties to ensure the creation of a competitive and attractive business environment for investments in targeted projects. That is especially true where it concerns digitizing all investor and logistics services. They contribute to the effectiveness of the integration philosophy between ports and industrial zones adopted by SCZONE, especially the One-Stop-Shop service that aims to maximize the benefit from SCZONE’s capabilities, create a conducive business environment and simplify administrative procedures by re-engineering more than 60 services. This cooperation will allow us to elevate standards, improve data collection, and strengthen our overall structure.”

Waleed Khoury, VP of strategic Projects at Agility and CEO of Transfora, said: “The advantage of Transfora is that it’s a low-code enterprise digitalization platform that integrates with simple-to-complex, line-of-business systems in the cloud and on-premise. It is easy for stakeholders to use, modify and customize. And it is accessible through both desktop and mobile devices.”

Transfora is owned by Agility, a multi-business owner and operator with significant investments in the SCZONE and Egypt. Since 2022, Agility’s Agility Economic Zones subsidiary has been the SCZONE’s modernization and development partner. Agility Economic Zones is implementing the SCZONE’s strategic vision in services, logistics and industrial zone support and has established customs and logistics centers in the zone. It is working to automate and integrate customs processes and operations for customs departments and other government agencies.

Wael Khalifa, CEO of Agility Economic Zones, said: “The SCZONE sits at the crossroads of global trade. Adoption of the Transfora platform will enhance its efficiency and rapid development as a global center for maritime transport and logistics services, an industrial gateway and the link between East and West. The companies investing in the zone see it as a manufacturing and trade engine of the future.”

Separately, Agility and Egypt-based Hassan Allam Holding are joint-venture partners in Yanmu East Logistics Park, a world-class warehousing, e-commerce and light-industrial facility in Cairo.

In addition to the Transfora project, EBRD has provided funding, loans and support for other projects in Egypt. They include initiatives in renewable energy, infrastructure, female entrepreneurship, and financing for small and medium enterprises.

Part of the fourth season of Kuwait’s Youth Public Authority’s Program

Kuwait – 5 March 2024– Agility Logistics Parks (ALP), a leading owner and developer of warehousing and light industrial parks in the Middle East, Africa, and South Asia, joined Engineering Systems Group (ESG) to provide intensive facility management training for over 35 Kuwaiti youth and university graduates for the second year-in-a-row.

The intensive training program by ALP and ESG ran from November 5 to December 7 2023, and was a critical part of a greater capacity building program by Kuwait’s Youth Public Authority.

ALP and ESG partnered to provide training on industrial zones, real estate management, facility management, contract management and other essential skills.

The program also featured on-site sessions at ALP’s industrial and warehousing facilities, offering participants an opportunity to observe and assess ALP’s operations. All trainees were mandated to attend the program’s lectures and workshops and pass a final exam to earn their facility management certification.

Nader Sakeen, CEO ALP Kuwait and Gulf, said: “Nothing pleases us more at Agility than supporting Kuwaiti youth, especially equipping them for successful careers in the private sector. We are delighted to collaborate for the second time with the Public Authority for Youth and our colleagues at Engineering Systems Group. As the leading owner and developer of warehousing and light industrial parks in the Middle East, Agility always welcomes such opportunities. Our doors are always open to support all our youth.”

Ahmed B. Al-Eisa Chairman and CEO of ESG, said: “Drawing from our experience at Engineering Systems Group, and guided by our mission to implement an integrated approach to project development and management, we recognize the importance of training and qualification in facility management, security, safety, and environment as a fundamental part of any successful project. We are pleased to collaborate with Agility and the Public Authority for Youth to train and qualify our national workforce, enhancing their practical skills and serving the aspirations of both public and private sectors by fostering a new generation of competitive Kuwaiti youth.”

The industry program is designed to expose the youth and graduates to various professional sectors.

Majority plan Africa expansion despite guarded outlook on emerging markets

DUBAI – Feb. 6, 2024 – Global logistics executives, still worried about recession, say they are battling higher costs, reducing dependence on sourcing from China, and planning to boost investment in Africa despite seeing emerging markets investment overall as somewhat riskier.

Half of the 830 industry professionals surveyed for the 2024 Agility Emerging Markets Logistics Index expect a global recession in the coming year – down from nearly 70% a year ago.

More than 63% of respondents say their companies continue overhauling supply chains by spreading production to multiple locations or relocating it to home markets and nearby countries. China, the world’s leading producer, stands to be most affected: 37.4% of industry professionals say they plan move production/sourcing out of China or reduce investment there.

“Shippers and carriers are struggling to minimize supply chain risk and find new growth opportunities. Inflation and recession risks have eased, but the industry is still living with the aftershocks of the COVID pandemic. At the same time, businesses are worried about geopolitics — troubled trade relations between China and the U.S. and Europe, and the thicket of sanctions against a growing number of countries,” says Agility Vice Chairman Tarek Sultan.

The survey and Index are Agility’s 15^th annual snapshot of industry sentiment and ranking of the world’s 50 leading emerging markets. The Index ranks countries for overall competitiveness based on their logistics strengths, business climates and digital readiness — factors that make them attractive to logistics providers, freight forwarders, air and ocean carriers, distributors and investors.

Shipping and logistics costs that soared during the COVID pandemic and its aftermath are still climbing but at a slower rate, the survey found. One way shippers expect to cope is by increasing use of digital freight forwarding from 37.8% today to 52% in five years.

Meantime, the industry is gearing up for a surge in Africa investment. Nearly 62% of professionals say their companies are planning additional or first-time investments in Africa vs. only about 7% exiting or scaling back there.

China and India, the world’s two largest countries, held their spots at No. 1 and 2 in the overall rankings. UAE, Malaysia, Indonesia, Saudi Arabia, Qatar, Vietnam, Mexico, and Thailand  rounded out the top 10. No. 24 South Africa and 25 Kenya were highest among countries in Sub-Saharan Africa.

Three of the four countries offering the best emerging markets business conditions are situated in the Arabian Gulf: UAE (1), Saudi Arabia (3) and Qatar (4). Malaysia (2) and Jordan (5) both moved up in the business fundamentals rankings.

China and India were tops for domestic and international logistics. In digital readiness, China jumped three spots to No. 1, followed by UAE, Malaysia and Qatar. India fell from the top spot a year ago to No. 5 this year.

Outside of the top 10, many of the biggest swings in year-to-year rankings involved countries experiencing conflict, facing international economic sanctions, or suffering from chronic economic instability. Among them: Ukraine, Russia, Iran, Ethiopia, Argentina, Lebanon, Tunisia.

2024 Index Highlights

Survey

• Supply chain restructuring – India, Europe and North America rank ahead of China as destinations executives expect to move production to in 2024 and onwards.
• China – 40% expect their businesses to be less reliant on China in five years. Leading factors in decisions to de-risk in China: difficulty of doing business; U.S.-China trade friction; a slowing economy; the harshness of China’s COVID restrictions.
• Climate change – 66% say climate change is something they’re planning for, or already affecting their businesses.
• Emerging markets – the largest percentage sees increased risk/decreased rewards in emerging markets.
• India – many see India growing in importance as a producer and market, but cite inadequate infrastructure and corruption as the biggest obstacles there.

Country Rankings

• In the Middle East and North Africa, overall rankings were: UAE (3); Saudi Arabia (6); Qatar (7); Turkey (11); Oman (15); Bahrain (16); Jordan (17); Egypt (20); Kuwait (21); Morocco (22); Tunisia (37); Lebanon (38); Iran (40); Algeria (42); Libya (50).
• Rankings in Sub-Saharan Africa: South Africa (24); Kenya (25); Ghana (31); Nigeria (36); Tanzania (41); Uganda (43); Ethiopia (45); Mozambique (46); Angola (47).
• Index rankings in Asia: China (1); India (2); Malaysia (4); Indonesia (5); Vietnam (8); Thailand (10); Philippines (18); Kazakhstan (23); Sri Lanka (26); Pakistan (29); Cambodia (32); Bangladesh (33); Myanmar (49).
• Rankings for Latin America: Mexico (9); Chile (12); Brazil (14); Uruguay (19); Peru (28); Colombia (27); Argentina (30); Ecuador (35); Paraguay (39); Bolivia (44); Venezuela (48).
• In Europe: Russia (13); Ukraine (34).

Transport Intelligence (Ti), a leading analysis and research firm for the logistics industry, has compiled the Index since it was launched in 2009.

John Manners-Bell, Chief Executive of Ti, said: “Supply chain managers are still coming to terms with the political and economic instability characterising the post-COVID global economy. Geopolitical relationships are changing rapidly, and this is having a major impact on international trade and risk profiles. Businesses need to be alive to the opportunities and threats that exist in emerging markets and use data, such as that the Agility Emerging Market Logistics Index, to inform agile decision-making.”

2024 Agility Emerging Markets Logistics Index: agility.com/2024index

Supply chain leader recognized for pioneering green buildings, transport, fuels and investment

DUBAI – NOV. 13, 2023 – Forbes Middle East has named Agility, a supply chain services, infrastructure and innovation company, as one of the region’s top leaders in sustainability, recognizing the company’s drive in green warehousing, clean energy, and investment that reduces environmental impact.

Agility is the No. 3 sustainability leader in the region’s Transport & Logistics sector, according to Forbes’ new Middle East Sustainability 100 list. Agility is one of only three Kuwait-based companies on the Forbes list.

Agility is pioneering the use of sustainable materials, designs and systems in development and construction of industrial infrastructure in the Middle East and Africa. A warehouse at the Agility Logistics Park in Riyadh, Saudi Arabia was the first warehousing facility in the Middle East and North Africa to receive EDGE Advanced “green building” certification. The company’s warehousing complex in Cote d’Ivoire is the first in West Africa to receive EDGE Advanced certification, an IFC-backed standard for buildings that at least more 40% energy-efficient than the market.

The company’s venture capital arm, Agility Ventures, has invested in startups and technology companies with innovations or disruptive business models that have a primary focus or quantifiable positive impact on the environment and social conditions. Among the technologies it has invested in: clean hybrid powertrain systems for long-haul trucking; electrified last-mile vehicles; EV charging networks and infrastructure; and solar thermal energy systems.

Agility’s operating businesses are following their own sustainability roadmaps. Agility’s Menzies Aviation business, the world’s largest provider of aviation ground services, and its Tristar liquid logistics affiliate are piloting industry efforts to green ground, air and ocean fleets, and develop storage and distribution infrastructure required for the transition to cleaner fuels.

Agility is also being recognized for its investments in its communities. In the last decade, Agility has reached more than 1 million people in need, including deploying resources in the aftermath of natural disasters and complex humanitarian emergencies, as well as a long-standing focus on youth education, entrepreneurship, employment, and digital skilling. Agility supports education and training initiatives for young people in Kuwait, Saudi Arabia, Cote D’Ivoire, Ghana, India and Egypt, among other countries.

Tarek Sultan, Agility Vice Chairman said: “Agility has been investing in ESG leadership for nearly 20 years; it’s a core part of our culture, commitment, and value proposition to shareholders, customers, employees, and communities. We’re honored by the acknowledgement from Forbes, and thank every one of our employees and stakeholders for being such a critical part of our sustainability journey.”

Forbes recognized Agility and others on its Middle East Sustainability 100 list at a dinner chaired by H.E. Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, at Rixos Premium Saadiyat Island, Abu Dhabi.