KUWAIT – 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 31st 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.
Agility is a global leader in supply chain services, infrastructure, and innovation with 45,000+ employees across six continents. A multi-business operator and investor, Agility specializes in growing and scaling operating businesses. Agility’s companies include the world’s largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); a leading logistics parks developer and operator across the Middle East, South Asia, and Africa (Agility Logistics Parks); and a commercial real-estate company developing a mega-mall in the UAE (UPAC). Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, and ecommerce-enablement and digital logistics. Agility invests in supply chain innovation, sustainability, and resilience, and has minority holdings in a growing portfolio of listed and non-listed companies.