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Kuwaiti Agility achieves net profit of 12.8 million dinars

Kuwaiti Agility

Kuwait, (Business News Report)|| The Kuwaiti company Agility achieved a net profit of 12.8 million dinars in the first quarter of this year, an increase of 1% over the same period last year.

The earnings per share of Kuwaiti Agility came to 6.07 fils during the first quarter 2022, which includes profits from discontinued operations.

Profits from continuing operations grew by 1.311%, and EBITDA reached 34 million Kuwaiti dinars, an increase of 71.7%.

Revenues amounted to 132.1 million Kuwaiti dinars, achieving an increase of 22.3%.

“We started the year well,” said Tariq Sultan, Vice Chairman of Kuwait’s Agility. “Our subsidiaries recorded healthy growth compared to last year.

Sultan added: “Despite market challenges and geopolitical conditions, we expect our ongoing operations to deliver a strong performance this year. We will continue to focus on accelerating the growth of these companies through our existing and new operations and our presentation to Menzies is a good example of our commitment to that.”

As for our investment sector, our stake in DSV represents our largest investment, as we believe in the long-term growth of this company and the shipping sector in general.

Sultan added: “We will work to expand our investment portfolio during the next stage, with the aim of maximizing value for our shareholders. This is done by investing in companies that operate in high-growth sectors with well-established components, reinforced by a management team with long experience and best governance practices in line with the company’s vision and values.”

In a related context, the National Bank of Kuwait, the Kuwait Finance House and Agility were ranked in the Forbes Global 2000 list for the year 2022, and among the 41 largest companies from the Middle East and North Africa region on the same list.

The list provides a ranking of the world’s 2,000 largest companies based on assets, profits, revenues and market value, and of these 41 companies, 25 are regional companies in the banking and financial services category.

According to the list, according to the financial data available as of April 22, 2022, the revenues of NBK amounted to $3.82 billion dollars, KFH $3.48 billion, and Agility $2.86 billion.

The profits of NBK, KFH and Agility amounted to $1.22 billion, $483.8 million and $3.24 billion, respectively.

As for the size of the assets, they amounted to $110.92 billion in NBK, 72.95 billion in KFH, and 9.61 billion in Agility, with a total of nearly 193.48 billion.

The market capitalization of KFH, NBK and Agility amounted to $25.78 billion, $29.56 billion and $8.5 billion, respectively.

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