“Agility’s goal is to provide equal opportunities, as well as the supporting infrastructure that allows women to succeed,” said Al-Saleh. “We believe that empowering talented people with diverse experience makes for better companies and stronger communities.”

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Lukas Skorupa, Group Chief Commercial Officer, from NAS Group said, “We are delighted to collaborate with Global Jet Technic who is known for quality and reliability. NAS offers high quality systems and procedures on par with the best international standards that include the latest Safety Management Systems. With NAS’s record of accomplishments, GJT is the perfect partner for us to deliver our line maintenance services to airlines in Dubai and Sharjah. We look forward to working together and delivering quality, excellence and safety to ensure a seamless experience for airline customers.”

With a presence in more than 55 airports across the Middle East, Africa and South Asia, NAS has been serving over 100 airline customers across its network, including five of the world top ten airlines as well as key aviation hubs. This includes ground handling, passenger handling, ramp, engineering and line maintenance, alongside lounge management, meet and assist services, innovative technology solutions, travel solutions and aviation training.

Global Jet Technic, approved by the UAE General Civil Aviation Authority (GCAA) currently operates line maintenance stations at Dubai International (DXB) and Sharjah Airport (SHJ) in the UAE. GJT’s capabilities include handling a wide range of aircraft types. The company’s skilled engineers and technicians are trained on operational procedures of contracted airlines and are geared towards delivering unified services to customers.

Capt. Khamis Al Kaabi, Chairman, of GJT highlighted, “In line with the vision of GJT to expand outside the UAE and bring its quality services and technical expertise to customers in the region, GJT is partnering with NAS, to tap into the potential that the wide network NAS can provide.”

GJT and NAS will offer standard pre-flight inspections, daily and weekly checks for a variety of aircrafts. NAS contributes its experience and expertise in line maintenance while GJT will offer local line maintenance proficiency, airport facilities and resources to the partnership.

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KUWAIT – November 14, 2021 – Agility, a leader in supply chain services, innovation and investment, today reported third quarter 2021 earnings of 440.34 fils per share on net profit of KD 926.9 million, an increase of 5,952.4% over the same period in 2020. EBIT increased 6.6% to KD 19.6 million, and revenue grew 27.7% to KD 124.5 million. Adjusted for revaluation impact of investments measured at fair value through profit and loss, net profits from continuing operations increased 17.1% to KD 12.7 million from same period in 2020.

For the first nine months of 2021, earnings were 464.67 fils per share on net profit of KD 978.1 million, an increase of 3,002.7% over the same period in 2020. EBIT increased 26.7% to KD 59.7 million, and revenue grew 17.9% to KD 344.7 million. Adjusted for the revaluation impact of investments measured at fair value through profit and loss, net profits from continuing operations for the nine months stood at KD 35.9 million an increase of 45.3%. 

8 signs your Agility investment is paying off

Agility’s profit from DSV deal

For Q3, Agility reported an exceptional gain stemming from the sale of its Global Integrated Logistics unit to DSV in exchange for shares in DSV. The profit from discontinued operations that GIL reported in Q3 was KD 918.4 million and for the nine months was KD 952.8 million.

 “Agility has consistently created shareholder value, which has grown fifty-fold[i] with an internal rate of return of 25% since privatization in 1997. Over the past decade, we were able to grow shareholder value five-fold[ii] and generated a 24% internal rate of return (IRR), outperforming the average return of companies on the Kuwait Premier Market Index by 2.6 times[iii],” said Tarek Sultan, Agility Vice Chairman and CEO.

“We believe our best days lie ahead though,” Sultan said. “We still own and operate the businesses that have historically generated 80% of Agility profits. Our stake in DSV has already appreciated 15% since the sale was announced in April, and we expect a return of an estimated $200m a year in cash through dividends and participation in DSV’s share buy-back program[iv]. Looking to the future, we are investing in high-growth markets, industries, and technologies.”

Agility’s Stake in DSV

In August, Agility finalized the sale of GIL to DSV in exchange for an 8% stake in DSV (19.3 million shares of DSV common stock). The deal makes Agility the second-largest shareholder in DSV, which is the world’s third-largest freight forwarding company.

“In building GIL, we demonstrated that we had a unique vision and the ability to turn that vision into a successful, global business that created value for our shareholders. DSV’s acquisition of GIL is an affirmation of Agility’s ability to build, nurture and monetize businesses at a global scale,” Sultan said. “The sale of GIL to DSV has already generated returns for Agility shareholders. From a strategic standpoint, it allows Agility to maintain global reach and market access to an attractive and growing supply chain industry,” Sultan said.

Agility’s stake in DSV will be reported, as per IFRS 9, as financial asset at fair value through other comprehensive income, and will replace GIL’s equity value on the balance sheet. As of the date of closing, the difference between GIL’s equity value and the fair value of Agility’s DSV stake was booked as a one-time, non-cash gain from disposal of discontinued operations.

Agility’s Infrastructure Companies

Agility’s Infrastructure portfolio of companies, the main drivers of the company’s profitability in recent years, continue to perform strongly.

Agility Logistics Parks’ (ALP) performance has been in line with 2020 results. Demand for warehousing space continues to grow. ALP is both optimizing its existing land bank and growing its supply of available land to meet customer demand. Operations in Kuwait, Saudi Arabia and Africa are strong, and ALP is looking for new markets to achieve additional growth.

Tristar, a fully integrated liquid logistics company, posted a 26.5% increase in revenue for Q3. This performance is driven by strong recovery in international oil prices, good performance in the Road and Transport segments, and favorable dry bulk charter rates in the Maritime segment. We expect this strong performance to continue into the fourth quarter.

National Aviation Services (NAS) reported 77.6% growth in Q3 revenue. NAS’s performance reflects a major recovery in aviation and increasing passenger and cargo volumes across NAS’s network.  NAS’s development of pandemic-related technology platforms and applications, intended to help aviation and health authorities facilitate safe travel, have been highly profitable. New businesses and the addition of operations at Baghdad and in the DR Congo and South Africa have also been profitable and positive contributors.

United Projects for Aviation Services Company (UPAC) experienced an 11% increase in Q3 revenue compared with the same period in 2020. The increase was primarily the result of higher revenue from airport-related services and parking following a gradual increase in traffic and the phased Q3 opening of operations and facilities at Kuwait International Airport. That said, UPAC revenue continues to be affected by pandemic-related travel restrictions that remain in place and constrain passenger traffic. UPAC continues to take measures to reduce the pandemic’s impact on its business. Amid a successful vaccination campaign in Kuwait, UPAC operations have begun to show steady signs of recovery. UPAC anticipates gradual growth in aviation traffic in Q4 2021 and into 2022.

UPAC reports that construction of Abu Dhabi’s Reem Mall is more than 90% complete. The mall, on Reem Island, will contain 2 million square feet of retail, leisure, dining, and entertainment choices. It will feature the region’s first fully integrated omni-channel retail ecosystem with fully enabled digital, e-commerce and logistics capabilities. Reem will be home to the world’s largest snow play park, Snow Abu Dhabi.

At Global Clearance House System (GCS), Agility’s customs digitization company, Q3 revenue grew 48.6%. The increase was driven by higher trade volumes and initiatives implemented by the company to spur growth.

Recap of Agility Q3 2021 Financial Performance

• Agility’s Adjusted Net Profit from continuing operations increased 17.1% to KD 12.7 million from 10.8 million a year earlier.
• Agility’s EBIT increased 6.6% to KD 19.6 million.
• Agility’s Revenue increased 27.7%, to KD 124.5 million and Net Revenue increased by 30.2%.
• Agility enjoys a healthy balance sheet with KD 3 billion in assets including KD 1.4 billion of DSV shares. Net Debt for continued operations stood at KD 305.4 million as of September 30, 2021. Reported operating cash flow was KD 127 million for the third quarter of 2021 an increase of 10.2% from same period last year.

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KUWAIT – October 31, 2021 – Agility, a leader in supply chain services, innovation and investment, has signed a memorandum of understanding (MoU) with Huawei, a leading provider of information and communications technology and infrastructure, to develop solutions for smart campus services at Agility Logistics Parks (ALP) facilities in Kuwait and other locations.

The agreement was exchanged by official representatives from both Agility and Huawei sides, and represents the first step towards equipping ALPs with centralized information and communications technologies (ICT) and services that can transform ALPs into smart industrial campuses.

Smart campuses use next-generation technologies such as Artificial Intelligence (AI) among others that will improve operational efficiency; enhance cybersecurity and physical security; and optimize movement of goods.

The agreement includes evaluation of technologies and systems that will help manage visitor management and vehicle entrances; create “smart streets” covered by WiFi; and improve safety at the ALP complexes.

ALP and Huawei teams will work to identify the requirements for solutions and innovations that will best optimize operations at each facility. ALP aims to increase management efficiency, decrease operational costs, present customers with a better service experience, and provide stronger security while generating less energy waste. Agility has commenced implementing these technologies at its logistics park in Mina Abdullah.

Nader Sakeen, CEO of ALP Kuwait and GCC, said:“Working with a leader in ICT technologies will give ALP an edge and enable us to provide customers with unparalleled services at our facilities. Agility’s goals are in line with the ‘New Kuwait’ 2035 vision, which aims to boost Kuwait’s industrial, logistics, crafts and workshops sectors by providing the right business landscape and ecosystem.”

“Sustainability is an integral part of our strategy and is an essential element in the design of our facilities. We design our facilities to help lower energy costs and reduce waste. We’re not only building for Kuwait and its industrial sector, but we’re also trying to build a more sustainable future for the next generation. We’re excited about the partnership with Huawei as we build future smart facilities in Kuwait and in the region,” Sakeen said.  

The Huawei Smart Campus solutions help make commercial and industrial complexes secure, comfortable, efficient, and green. The company’s technologies focus on digital security, smart property management, and smart offices.

Liam Zhao, CEO of Huawei Gulf North, said: “We are proud to have the opportunity to support a leading supply chain services company such as Agility with our world-class smart city solutions. As smart cities are a priority for Kuwait’s national agenda, Huawei is committed to doing all it can to support achieving the nation’s vision by empowering enterprises through our advanced solutions to further drive the country’s digital transformation journey.”

Agility Logistics Parks is a world leader in the design and construction of logistics parks and warehousing solutions. Logistics warehouses provide essential infrastructure required for both multinational companies and local businesses that need storage, distribution, packaging, processing and light manufacturing space.

ALPs offer ambient and air-conditioned warehousing; freezers and chillers; asphalted container-storage yards; and racked warehousing. In addition, Agility’s warehouses meet international environmental standards and feature eco-friendly construction materials, using energy-efficient roof and side-insulated panels, wind-driven roof fans, skylights for natural lighting, along with LED and energy-saving light fittings.

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Nairobi, Kenya, 21 October 2021 – National Aviation Services (NAS), the fastest growing aviation provider in the emerging markets, has signed a strategic partnership agreement with Kenya’s Siginon Aviation Ltd. to acquire a 51% stake in Siginon Aviation Ltd.  Siginon Aviation, a subsidiary of Siginon Group Ltd. provides complete airport ground handling and cargo management services.

Commenting on the latest partnership, Hassan El-Houry, Group CEO of NAS said, “During the pandemic, our cargo services came to the forefront by keeping crucial supply chains flowing uninterrupted. With the ongoing vaccine requirements around the world, we also handled almost a million doses of the Covid-19 vaccine at different African airports. With this growing demand, we expanded our focus on cargo management in Africa and the partnership with Siginon Aviation is indeed timely.”

A combination of NAS’s global presence and expertise in airport services with Siginon Aviation’s experience in Kenya will successfully strengthen the ground handling, ramp handling and cargo handling capabilities in the region, especially in East Africa.

Meshack Kipturgo, Siginon Group’s Managing Director added, “We foresee great promise for business and growth for both, our staff and our customers through service delivery – now and into the future. This partnership is a true reflection of our mutual ambition to make a positive mark in service excellence, extend our footprint in Kenya and beyond as we jointly tap onto the opportunities present in the cargo and aviation sector.”
In the last decade, Siginon Aviation has enhanced its ground handling capacity with several upgrades including relaunching its operations in a state-of-the-art air cargo terminal and acquisition of ramp equipment to boost its operations in JKIA, Nairobi. This has seen the company receive several industry certifications and accolades including ISAGO, RA3, and ISO9001: 2015 as well as awards for excellence in business, leadership, customer focus, marketing, HR development and cargo.

Through this partnership, NAS has expanded its presence in Africa with two airports in Kenya – Nairobi and Eldoret. This adds to NAS’s growing network in Africa and strengthens its presence as the largest ground handler in the region. In the last year despite the challenges posed by the Covid crisis, NAS successfully launched operations in 14 airports across South Africa, DRC, Guinea Bissau and Zambia.

El-Houry also highlighted “In 2018, we committed to investing $50 million into the African aviation sector over a period of three years. With the pandemic, the global aviation industry suffered a major slowdown and NAS experienced an 85% drop in revenue. Despite the challenges, we remained focused on our commitment to the sector and thrived during a very difficult period. This is greatly because of the exceptional goodwill we built with all our stakeholders – our employees, customers, partners and governments, all mutually supporting each other during this difficult time.”

With its expansion, NAS remains committed to both existing as well as new operations. Present in over 55 airports across Africa, the Middle East and South Asia, NAS invests into facilities and infrastructure, equipment, technology, recruitment, and training of staff. NAS is also dedicated to advancing local knowledge and skills of while offering more employment opportunities and career options.

NAS provides ground-handling services to over 100 airlines globally, manages more than 50 airport lounges across its network and offers an extended portfolio of services that includes innovative technology solutions and training.

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KUWAIT – September 13, 2021 – Agility, a leader in supply chain services, innovation and investment, announced that the leading global provider of comprehensive logistics and transportation solutions, Aramex has selected the Agility Logistics Park (ALP) in Sulaibiya as the location for its new 16,000 SQM e-fulfillment center in Kuwait.

The opening of the new Aramex warehouse was attended by H.E. Dr. Matar Al-Neaydi, UAE Ambassador in Kuwait, Eng. Nader Sakeen, CEO of ALP Kuwait and GCC, Mr. Fadi Kikoloff, General Manager of Aramex Kuwait along with senior executives from both companies.

Aramex’s new facility will be housed in Agility’s recently completed multi-customer logistics warehouse, which was developed by ALP. The facility is the largest logistics warehouse in Kuwait, and was built to meet customer requirements. The warehouse complex provides Aramex Kuwait with the necessary infrastructure and services needed to meet its customers’ needs across the country and the GCC.

The new state-of-the-art Aramex facility will help the Company expand and grow its e-commerce fulfillment business, which involves movement of different types of consumer goods and products. Using the latest equipment and technology, the logistics warehouse will operate the latest version of INFOR WMS 10.4, RFID tags and gateways, automated conveyor belts and sorting machines, all of which are geared towards faster and more efficient operations.

Fadi Kikoloff, General Manager of Aramex Kuwait, H.E. Dr. Matar Al-Neaydi, UAE Ambassador in Kuwait and Nader Sakeen, CEO of ALP Kuwait and GCC

Nader Sakeen, CEO of ALP Kuwait and GCC, said: “We are pleased to welcome Aramex Kuwait at their new facility at the Agility Logistics Park in Sulaibiya. The built-to-suit warehouse was tailored to customers’ requirements and is move-in ready, enabling fast deployment, flexibility and reduced capital commitments. At ALP, we know how to deliver large-scale projects that accelerate growth and enhance operational efficiency for companies operating in Kuwait and in the region.”

Fadi Kikoloff, General Manager of Aramex Kuwait, said: “We are pleased to expand our fulfillment infrastructure to deliver our customers in Kuwait and the wider region the speed and reliability they deserve. This new facility is an important investment that will help support the rapid growth of our logistics business. The facility’s cutting-edge technology strengthens our position by ensuring higher capacity, faster sortation process and reduced transit times. We believe this will allow us to fulfil growing customer demands for more reliable services.”

The ALP in Sulaibiya features built-up, international-standard warehousing and logistics facilities that serve leading multinationals, government customers, and small and medium-sized businesses operating in Kuwait. In twelve countries, the advanced design and layout of ALP warehouses gives customers the ability to store more goods in less space while also utilizing state-of-the-art technology and systems that ensure smooth management of inventory and flow of goods.

Sakeen said: “Agility Logistics Parks is a world leader in the design and construction of logistics parks and warehousing solutions. Our logistics warehouses provide the essential infrastructure required for both multinational companies and local businesses in the storage, distribution, packaging, processing and light manufacturing sectors.”

The secure ALP in Sulaibiya features ready-built warehouses; built-to-suit warehouses; shared facilities; and open storage, laydown, and truck- and car-staging yards. The logistics park also offers ambient and air-conditioned warehousing; freezers and chillers; asphalted container-storage yards; and racked warehousing. In addition, Agility’s warehouses meet international environmental standards and feature eco-friendly construction materials, using energy-efficient roof and side-insulated panels, wind-driven roof fans, skylights for natural lighting, along with LED and energy-saving light fittings.

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IRC will train 380 young people at Agility Logistics Park in Abidjan

ABIJDAN, Côte d’Ivoire – September 1, 2021 – Agility, a leader in supply chain services, innovation and investment, and the International Rescue Committee (IRC), an organization that provides emergency aid and long-term assistance to populations affected by conflict and other catastrophes, have partnered to provide entrepreneurship and life skills training to youth in Côte d’Ivoire.

As part of the IRC’s Strengthening Opportunities for Youth Project (PRO-Jeunes), which also receives funding from the Mastercard Foundation and the Schneider Electric Foundation,  380 young people will be trained at Agility’s Logistics Park in Abidjan. The training focuses on financial management, entrepreneurship, gender equality awareness, and business plan development support. At the end of the program, students will have access to financial resources to start a business or will receive help finding jobs. The program also offers a vocational training track, focusing on agriculture or information and communications technology.

The Agility-IRC partnership is intended to help young people in Abidjan between the ages of 15 and 30, and at least 60% of participants are expected to be female.

Geoffrey White, CEO of Agility Logistics Parks Africa, said: “Agility has continuously supported education through the global initiatives of its sustainability program. It is extremely important to provide youth with the necessary tools and resources to increase their chances to find suitable jobs and secure their futures. In Côte d’Ivoire and elsewhere, we aim to work closely with our partners at IRC to make sure students receive the support they need to grow in their fields.”

Patrice Boa, Economic Recovery and Development Coordinator, International Rescue Committee – Côte d’Ivoire, said, “Bringing IRC and Agility together to combine experience, relationships, material, funding and commitment, we’re able to give young people in Côte d’Ivoire access to quality life skills training, which we hope will enhance their future employability. With Agility’s assistance and the space they have provided, we’re able to include more young people into our PRO- Jeunes program in Abidjan.”

Agility established a similar program at the Agility Logistics Park in Tema, Ghana, where the company runs a vocational training program in collaboration with a local non-governmental organization. Since 2018, more than 380 students have graduated from the program, which provides free vocational and technical training and job-placement assistance. Agility is engaged in several long-term partnerships involving education and training programs that aim to improve employment opportunities in the communities where Agility operates. Agility focuses on secondary education and vocational training and aims to ensure that at least 50% of participants are girls and women.

To find out more about Agility’s sustainability activities, visit http://sustainability.agility.com.

About Agility

Agility is a global supply chain company, and a leader and investor in technology to enhance supply chain efficiency and sustainability. It is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer airport services, e-commerce enablement and digital logistics, customs digitization, remote infrastructure services, fuel logistics, and commercial real estate and facilities management.

For more information about Agility, visit Agility.com
Twitter: twitter.com/agility
LinkedIn: linkedin.com/company/agility
YouTube: youtube.com/user/agilitycorp

About International Rescue Committee

The International Rescue Committee responds to the world’s worst humanitarian crises, helping to restore health, safety, education, economic wellbeing, and power to people devastated by conflict and disaster. Founded in 1933 at the call of Albert Einstein, the IRC is at work in over 40 countries and over 20 U.S. cities helping people to survive, reclaim control of their future, and strengthen their communities. Learn more at www.rescue.org and follow the IRC on Twitter & Facebook.

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Kuwait – August 16, 2021

Agility, a leader in supply chain services, innovation and investment, announced that it expects to complete the sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (“DSV”) today.

The all-shares transaction gives Agility 19,304,348 DSV shares upon full completion of the deal in all jurisdictions, representing approximately 8% of all post-transaction shares of DSV. This makes Agility the second largest DSV shareholder based on today’s shareholder register.

The enterprise value of the transaction is USD 4.775 billion and the equity value is USD 4.675 billion.

 “We’ve shown that Agility knows how to build and scale successful businesses. This deal affirms Agility’s global strategy and execution, and positions us for a new era of growth,” said Tarek Sultan, Agility Vice Chairman and CEO. “We’re moving forward with a strategic investment in DSV, one of the world’s best-performing logistics providers. We will accelerate growth in the businesses we continue to operate, which historically account for around 80%of our EBIT. And we will continue investing in businesses that are driving sustainable innovation in supply chain and transportation. Our future will be built around businesses, technology and investment that expand access to global trade and make supply chains faster, smarter, greener, fairer and more efficient and resilient.”

Sultan said Agility’s next phase of growth will create additional shareholder value. “In the last decade, Agility created almost $7 billion in value for shareholders, increasing it five fold since 2011. We are determined to sustain this momentum going forward.”     

In addition to its stake in DSV, Agility receives a seat on the DSV board of directors. “This is a chance for us to share ideas and find areas where we can collaborate with a visionary DSV leadership team that, like us, is determined to shape the supply chains of the future,” Sultan said.

With the acquisition of GIL, DSV becomes a global top-three player in the freight forwarding industry with an expected combined revenue of roughly $26 billion and 75,000 employees worldwide.

Jens Bjørn Andersen, Group CEO of DSV Panalpina, said: “I am very pleased to welcome our new colleagues from GIL on this important day. There are many similarities when you look at our two companies both in terms of the business models and services and, not least, when we look at our shared focus on local empowerment and putting customers first. DSV and GIL simply constitute an excellent match. We will now start the integration, and together, we are going to grow the business and bring even more value to our many customers, partners and shareholders than we do separately.” 

Regulatory clearances are pending in a limited number of jurisdictions, which are not material in the context of the overall size of the transaction.

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Numbers above are rounded

KUWAIT – August 14, 2021 – Agility, a leader in supply chain services, innovation and investment, today reported second quarter 2021 earnings of 18.32 fils per share on net profit of KD 38.6 million, an increase of 503.7% over the same period in 2020. EBIT increased 202.6% to KD 29.6 million, and revenue grew 26.6% to KD 112.2 million.

For the first 6 months of 2021, earnings were 24.33 fils per share on net profit of KD 51.2 million, an increase of 215.9% over the same period in 2020. EBIT increased 39.6% to KD 40.1 million, and revenue grew 13% to KD 220.2 million.

All of Agility’s largest businesses reported Q2 growth and profitability levels that were at or above pre-pandemic levels in 2019. “We’re proud of how we’ve been able to respond and recover from the challenges of the COVID-19 pandemic,” said Tarek Sultan, Agility Vice Chairman and CEO.

Agility is working to finalize the sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (DSV), in exchange for 19.3 million shares in DSV. Sultan said: “We see this transaction as a catalyst for Agility’s future growth. Agility will continue to grow its high-value business in emerging markets, and continue to invest in companies and technologies reshaping global supply chains.”

Reporting

For the second quarter, Agility is reporting GIL’s results on a limited basis. Reporting will be done as per IFRS 5, covering non-current assets held for sale and discontinued operations. On the balance sheet this quarter, GIL is reported as single line items as Assets and Liabilities Held for Sale. On Agility’s Profit and Loss (P&L) statement, GIL is reported as Income from Discontinued Operations.

Once the transaction has been completed, Agility’s investment in DSV will be reported as per IFRS 9 as a
“financial asset at fair value.”

Agility Global Integrated Logistics (GIL)

As noted above, GIL results in Q2 appear as one line item and are not consolidated with figures from other Agility businesses, as per IFRS 5, covering non-current assets held for sale and discontinued operations.

GIL continues to witness favourable market conditions in freight forwarding and growth in contract logistics, which drove a revenue increase of 33%. Higher volumes, yield improvements, combined with ongoing cost control practices, led to exceptional year-over-year improvement in GIL profitability for the quarter.

Agility’s Infrastructure Companies

Agility’s Infrastructure group of companies remains the main contributor to Agility’s profitability and has historically generated around 80% of Agility’s EBIT. Each entity within this group is pursuing its own growth strategy. Entities that have been impacted by COVID-19 are recovering, and all are continuing to execute their growth plans.  Infrastructure entities have seen solid performance over the years. Agility will continue to explore growth opportunities for these businesses moving forward. 

Agility Logistics Park (ALP) revenue increased 5% in the second quarter. Demand for warehousing space is still growing in regions where ALP has a presence, especially in the Middle East. ALP strategy is to increase its land bank in the countries where it operates and to provide high quality warehousing space to its customers.

Tristar, a fully integrated liquid logistics company, posted a 12.5% increase in revenue growth for Q2. This performance reflects improving market conditions and Tristar’s resilient and diversified business model. Tristar has a strong pipeline of growth opportunities across its business segments and is expected to deliver attractive returns. The company’s blue-chip clients have been key enablers of its success.

National Aviation Services (NAS) revenue reported 131.9% growth in Q2. NAS’s performance represents a full recovery to pre-pandemic levels of 2019. NAS’s rebound is attributed to three factors.  First, there has been an increase in flights in all of the countries served by the company, particularly Kuwait, Cote d’Ivoire, Uganda and Iraq. The increase in flights, coupled with significant cost reduction, has enabled NAS to improve margins. Second, NAS began new operations that have been profitable, particularly in Baghdad and Democratic Republic of Congo. Finally, the company’s investments in technology and digital health have paid off, contributing significantly to revenue in Kuwait and Baghdad.

United Projects for Aviation Services Company (UPAC) saw a 238.3% increase in revenue for Q2 compared with the same period in 2020. UPAC’s Q2 2020 revenue was impacted by the three-month rental waiver for its airport mall tenants in response to the COVID lockdown in Kuwait.

Revenue is still affected by ongoing travel restrictions imposed as a result of the pandemic. UPAC continues to take various measures to reduce the negative impact on its business. With a vaccination program fully underway in Kuwait, UPAC operations are showing signs of gradual recovery. The company anticipates an air traffic pick up by Q3 2021.

At Global Clearance House System (GCS), Agility’s customs modernization company, Q2 revenue increased 48.1%. The growth was driven by increased trade volumes and initiatives implemented by the company to spur its growth. GCS is looking into new customs modernization opportunities inside and outside of Kuwait as ways of diversifying its income.

Recap of Agility Q2 2021 Financial Performance

• Agility’s Net Profit increased 503.7% to KD 38.6 million. EPS was 18.32 fils vs. 3.04 fils a year earlier.
• Agility’s EBIT increased 202.6% to KD 29.6 million.
• Agility’s Revenue increased 26.6%, to KD 112.2 million and Net Revenue increased by 24.6%.
• Agility enjoys a healthy balance sheet with KD 2.4 billion in assets. Net Debt for continued operations stood at KD 300 million as of June 30, 2021. Reported operating cash flow was KD 88.8 million for the second quarter of 2021.

Closing

Sultan said: “After the deal with DSV closes, a new chapter of Agility’s story will be begin. We will continue to grow our existing businesses, which have proved to be solid and stable performers over the years, and we will invest in companies, technologies, and digital initiatives that are reshaping our industry. We are proud of the fact that we have increased shareholder value by more than 5 times over the last decade, and we remain committed to growing shareholder value in years to come.”

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Global, regional, local brands will use new 15,000 SQM center to manage e-commerce orders, delivery across GCC

DUBAI – Shipa, the digital logistics and e-commerce arm of Agility, announced the opening of a state-of-the-art e-fulfillment center in Kuwait. Shipa’s 15,000 SQM e-fulfillment center gives merchants and brands the infrastructure and services they need to capitalize on the explosive growth in e-commerce and online sales across Kuwait and the GCC.

Strategically located in Sulaibiya, near the country’s major transportation links, the facility contains 12,000 pallet positions and 30,000 bin locations. It leverages the operational expertise of Agility, a leading global logistics provider, and the integration technology of Shipa’s last-mile delivery network, serving GCC markets.

“The GCC ecommerce market is likely to double to $50 billion by 2025, according to AT Kearney, and a strong logistics backbone is going to be essential to realizing that growth. Agility is investing in ecommerce enablement and infrastructure across the region, and is excited about Shipa’s new e-fulfillment centers in Kuwait and the UAE,” said Henadi Al-Saleh, Chairperson of Agility. “The ecommerce ecosystem in Kuwait is getting stronger every day. Like all countries, it got a boost from the pandemic, but we’ve also seen strong support from the public sector and increased interest and investments from companies locally, regionally, and globally. We are determined to help these businesses – including local small and medium-sized businesses – accelerate their growth.”   

The Shipa facility offers non-bonded, racked and bulk storage; inbound air and ocean stock replenishment; pick-and-pack services; customer technology integration and APIs; local and international returns services; and integration with cross-border and last-mile transportation. The facility also has temperature-controlled storage, including dry and refrigerated storage. Shipa adheres to rigorous Quality Health Safety, Security and Environment (QHSSE) standards.

 “E-commerce growth in Kuwait will be boosted by the right infrastructure and technology, including dedicated warehousing, fulfillment space and capacity. Merchants and brands have asked Shipa to help them tackle that challenge,” said Shipa Delivery CEO Borhene Ben Mena. “This new e-fulfillment center will allow different industry players, including smaller and medium-sized businesses, to expand their online business in Kuwait and across the region.”

Shipa’s value-added services include e-fulfillment solutions scalable for all GCC markets, including access to more than 1.2 million SQM of GCC warehousing, customs brokerage, express bonded road services, and delivery options that include COD, pre-paid and payment-at-door.

In addition to the new center in Kuwait, Shipa has launched fulfillment centers and added services in Dubai to meet the surge in demand brought about by the dramatic acceleration in e-commerce and online transactions.

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