Agility, a publicly traded company with more than 22,000 employees in 500 offices across 100 countries, and one of the world’s largest providers of integrated logistics, announced its financial results for the first quarter of 2013. The company reported revenues in Q1 2013 of KD 352.6 million, a 10-per-cent increase over Q1 2012, and a net profit of KD 10.1 million, up 46 per cent over the same period last year.
EBITDA of KD 21.6 million was reported for Q1 2013, an increase of 36 per cent from same period last year. Operating cash flow and free cash flow generated during the quarter were KD 23.4 million, and KD 26.0 million respectively.
“We are pleased to report that we are continuing on a healthy growth trajectory,” said Tarek Sultan, Agility’s Chairman and Managing Director. 2013 has started off on the right track and we are making progress against our goals in both the core commercial business and our Infrastructure group of companies.”
Agility’s core Global Integrated Logistics (GIL) business revenue increased by 7 per cent in Q1 2013, relative to the same quarter last year. Despite the ongoing weakness of the global economy, Agility GIL has expanded its customer base and reach over this last quarter. For example, Agility won a three-year contract with Shell, estimated at $80 million, to manage freight forwarding from different locations around the world to the Mainoon Oil Field in Iraq. Agility was also awarded a five-year contract to provide warehousing services to Universal, a home appliance provider in Egypt, with an estimated contract revenue of $9.7 million.
Agility’s goal is to realize GIL’s full potential over the next three to five years by sustaining momentum in the execution of its commercial strategy, maintaining financial discipline and accelerating technological transformation to drive productivity and customer service. GIL’s competitive advantage is its strong platform in emerging markets, which continue to drive global growth.