Agility has announced its financial results for the first quarter of 2015. It reported revenue of KWD318.1m, an increase of 1.21% compared to Q1 2014. The company also recorded EBITDA of KWD23.4m, a 4.00% increase year-on-year. Accordingly the Algility’s EBITDA margin stood at 7.36%.
“We continue to build momentum within our business and have started the year on a good note. Global Integrated Logistics has seen further margin expansion in this quarter by focusing on strengthening its operating platform, maintaining financial discipline, and focusing on high-growth markets, products, and verticals. We will continue to drive change within the organization to maximize the potential of this business. Our infrastructure group of companies posted another healthy quarter fuelled by new opportunities in Emerging Markets.” said Tarek Sultan, Agility’s CEO.
Revenue for Agility Global Integrated Logistics for the first quarter of 2015 was KWD248.0m, after adjusting for currency translation this represents an increase of 2% compared to Q1 of 2014. Continued growth in contract logistics in emerging markets, coupled with improved yields in the air freight business, resulted in a net revenue improvement of 1%, with margins expanding from 23% in Q1 2014 to 24% in Q1 2015.
Agility’s Infrastructure companies contributed KWD70.3m to first quarter 2015 revenues, a 15% increase over Q1 2014. Agility Real Estate, the largest contributor in the group, grew its revenues by 5% in Q1 2014, compared to the same period in 2014. Other infrastructure companies also reported a healthy growth in the quarter after winning new customers and conducting geographic expansion, particularly in Africa.
“Agility’s Infrastructure portfolio of companies continues to be an important driver of financial performance, consistently reporting healthy year on year growth,” said Sultan. “The companies, operating across a broad spectrum of logistics-related services, from bulk fuel storage and transport, to industrial real estate development and management, to airport and ground handling services, to commercial real estate and facilities management, are well poised to take advantage of niche market segments in fast-growing regions in the Middle East, Asia, and Africa.”
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