Agility announces Q3 2015 results

Agility announced Q3 results for 2015 with revenues of KWD335m representing a decline of 0.62% year-on-year. The company also recorded EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of KWD24.4m for the same period, a decline of 4.31%. Consequently, Agility’s margin stood at 7.28%, down from 7.56% for the same quarter in the previous year.

Agility attributed the decline in overall revenues to a softening of air freight volumes although the ocean freight, contract logistics, Chemicals and Fairs and Events lines of business continued to grow. Cost management procedures and increased commercial discipline helped to keep profits up although these measures were not sufficient to prevent the overall EBITDA margin from declining.

Tarek Sultan, Agility CEO said of the results, “The global logistics market remains soft as the result of flat or declining trade volumes and weakness in key economies around the world. Even so, we have continued to make gains in our core commercial logistics business because we have found ways to be more efficient, improve productivity, demonstrate financial discipline and make operations more responsive to the marketplace and customers’ needs.”