Results Reflect One-Off, Non-Cash Loss from Remeasurement of Discontinued Operations

KUWAIT, 17 August 2025 — Agility Public Warehousing Company KSCP (“Agility KSCP”), a supply chain services, infrastructure and innovation company, today reported Q2 2025 results following a repositioning of the company’s strategy.

Q2 Recap of New Strategic Direction

On 17 June 2025, Agility KSCP’s Board of Directors approved a new strategic direction aligned with Kuwait Vision 2035, aiming to accelerate national infrastructure development and reaffirm the company’s original mission set in 1979 to develop critical warehousing and logistics in Kuwait.

To execute on this strategic direction, Agility KSCP announced that it will position its capital, operations, and leadership to support Kuwait’s economic priorities, with planned investments exceeding KD 100 million through 2030 in high-priority sectors. The company announced that it was taking several structural steps as part of this strategy, including national alignment, fostering Kuwaiti talent, and rebranding.

The Board of Directors of Agility KSCP, based on the authorization given at the Company’s Ordinary general meeting held on 22 May 2025, also approved the distribution of in-kind dividends representing 20.09% of the shares held by Agility KSCP in ADX-listed Agility Global Plc.

This strategic step aimed to offer shareholders a direct stake in a high-growth business while enhancing Agility Global’s free float, improving share liquidity, and boosting price discovery. This move is expected to raise Agility Global’s market visibility and support potential inclusion in major equity indices, underscoring the Board’s commitment to long-term value creation and alignment with shareholders.

Results from Continuing Operations

Following the announcement of this in-kind dividend distribution, Q2 2025 is the first quarter that Agility KSCP is reporting its results from continuing operations, and accounting for the one-off, non-cash impact of the remeasurement of Agility Global in Agility KSCP.

Q2 2025 net income from continuing operations stands at KD 8.7 million, up 196% from the same period last year, equivalent to 3.48 fils per share. Revenue stands at KD 36.1 million, and EBITDA was KD 16.2 million, up 36% year-over-year.

For the six months ending June 30, 2025, net income from continuing operations stands at KD 18 million, equivalent to 7.22 fils per share, a 45.3% increase from same period last year. Revenue stands at KD 73.9 million, and EBITDA was KD 32.2 million up 5.3% year-over-year.

One off, Non-Cash Loss from Discontinued Operations

In accordance with accounting standard IFRS 5, in Q2, Agility Global PLC was classified as “held for distribution to shareholders”.

As a result, the company recognized a non-cash loss of KD 292 million attributable to shareholders. This loss reflects the initial measurement of Agility Global, representing the difference between its book value and its market value as of 30 June 2025.

Including this one-off loss from discontinued operations, the reported consolidated net result for Q2 2025 was a loss of KD 282 million, equivalent to negative 113 fils per share.

This loss is an accounting adjustment as a result of the distribution of in-kind dividends as mentioned above and does not reflect the economic value of Agility Global, which continues to perform strongly.

Tarek Sultan, Vice Chairman of Agility KSCP said:

“Operating performance in the second quarter remained stable, and net income from continuing operations improved year-over-year. While the reported consolidated loss reflects a one-time, non-cash accounting adjustment under IFRS-5, it does not impact the fundamentals of the business. Our focus remains on positioning Agility KSCP for sustainable growth, with a particular emphasis on Kuwait-centric opportunities.”

Continuing Operations: Business Update

In Kuwait, the company’s portfolio businesses remain committed to executing their growth strategies while actively pursuing opportunities to enhance value and returns for shareholders.

GCS continues to prioritize both expansion and operational efficiency, positioning itself to capture new market opportunities. Meanwhile, MRC achieved a significant milestone by winning the bid to develop and operate a state-of-the-art Metal Reclamation Facility (MRF) that will process spent catalysts from KNPC and KIPIC refineries, contributing to Kuwait’s sustainability and industrial recycling goals.

Agility’s Kuwait Logistics Parks business is also making steady progress on the development of S2, or South Village—an integrated commercial, logistics, and crafts/services hub designed to serve Sabah Al-Ahmad City, Kuwait’s next-generation urban development. This project underscores Agility KSCP’s role as a key enabler of modern infrastructure in support of national growth.

Investments: Agility Global Business Update

As of end June 30, 2025, Agility KSCP still owned 51% shares in Agility Global, however post the distribution which happened in July, Agility KSCP will own 25% of Agility Global and will be deconsolidated and accounted for as an associate in Agility KSCP Books starting in the third quarter of 2025. However, for the second quarter, Agility Global was reported as per IFRS 5 as mentioned above.

In Q2 2025, Agility Global reported healthy profitability growth with stable margins, driven mainly by Menzies and Agility Logistics Parks. Tristar delivered steady top-line growth and operational ramp-up; but certain challenges in its maritime segment limited its EBIT expansion.

Agility Global reported Q2 2025 earnings of $24 million, EBIT grew 5% to $97 million, EBITDA increased 8% to $181 million, and revenue rose 8% to $1.2 billion. Agility Global’s balance sheet remains strong with total assets at $12.7 billion and shareholder equity at $5.8 billion

Financial Summary

Numbers above are rounded.

KUWAIT – JUNE 25, 2025 – Agility, a supply chain services, infrastructure, and innovation company, has renewed partnerships with Kuwait’s leading non-profits to empower and support over 5,000 beneficiaries in Kuwait throughout 2025, building on two decades of collaboration that have reached over 51,000 people across the country.

2025 CSR Program:

1- INJAZ-Kuwait Programs

Agility will continue its 18-year partnership with INJAZ Kuwait, supporting programs that equip young people with financial skills to succeed in today’s private sector. INJAZ provides and runs nationwide financial literacy programs for students in collaboration with the Ministry of Education and private schools, as part of its mission to empower 100,000 students in Kuwait. Agility’s support extends to a range of INJAZ programs, including Entrepreneurship Master Classes, It’s My Business, Innovation Camps, Personal Finance, and Job Shadows initiatives.

2-LOYAC’s Kon Program

Agility has also renewed its commitment to LOYAC’s “KON” program, now in its tenth year. The five-week program trains students aged 12 to 16 in entrepreneurship through hands-on learning and workshops led by industry professionals. Developed in collaboration with Babson College, a leading U.S. institution in entrepreneurial education, the program equips students with core business skills, critical thinking, leadership, and communication abilities.

3-CODED Academy

Agility has renewed its strategic support for two of CODED Academy’s programs: Kuwait Codes and Academy X. To date, these free programs have trained 2,833 young men and women in Kuwait on foundational and advanced programming languages.

Now in its fourth year, Kuwait Codes has proven to be a successful platform for nurturing tech and coding talent across Kuwait. Agility’s renewed support reflects its continued commitment to impactful educational initiatives and aligns with the company’s broader mission of driving innovation in supply chain technology and digital infrastructure.

Academy X, which began as a pilot program within Kuwait Codes in 2023 and officially launched last year, enters its second year in 2025 following remarkable success. The program offers a dynamic environment for growth and innovation and is dedicated to empowering the next generation of women innovators in Kuwait. Agility’s continued support underscores its commitment to building a more inclusive and digitally empowered future.

 4-RUN Kuwait by FSHN

Agility, a founding partner of RUN Kuwait, has renewed its support for the country’s first annual fundraising race. Organized since 2013 by the non-profit Fawzia Sultan Healthcare Network (FSHN), the event raises funds to provide essential healthcare services to children from underprivileged families. All proceeds go toward therapy sessions at FSHN’s Child Evaluation and Rehabilitation Center (CERC), which offers free or low-cost care for children with special needs, ensuring they receive the treatment and support they need.

5-Work-Maker Project by Youth Public Authority

For the third consecutive year, Agility, in collaboration with Engineering Systems Group (ESG), is continuing its accelerated facilities management training program for 25 young Kuwaitis as part of the Work-Maker Project, a national workforce development initiative led by Kuwait’s Youth Public Authority.

The program provides practical, industry-focused training to Kuwaiti engineering graduates from universities in Kuwait, the U.S., and the U.K., equipping them with the skills and experience needed for careers in both the public and private sectors. By aligning training with real market needs, the initiative helps prepare young professionals for in-demand roles in facilities management and related industries.

6-Participation in Career Fairs

Agility also actively engages with the future workforce through its participation in career fairs, with a strong focus on employing and empowering Kuwaiti youth. Agility took part in the American University of the Middle East (AUM) Career Fair and the K-Tech Career Fair. These platforms allowed Agility to connect with young Kuwaiti students and graduates, showcase career opportunities across its diverse business units and reinforce its commitment to national workforce development.

7-Food for Good

As part of its ongoing commitment to supporting communities in need, Agility has partnered with the Kuwait Association for Needy Families for Agility’s annual ‘Maachlat Al-Khair’ (Food for Good) initiative. Through this collaboration, Agility provides 1,000 underprivileged families in Kuwait with essential food packages during Ramadan, with support from Agility subsidiaries UPAC and Shipa.

Recognition:

Agility is ranked among the top three sustainability leaders in the Middle East’s Transport & Logistics sector and was one of only five Kuwait-based companies featured on Forbes’ Middle East Sustainable 100 list for 2024. The company has been included in the FTSE4Good Index Series since 2020—a global benchmark for companies with strong ESG practices.

This press release was originally posted on June 18 2025 on Agility.com, and has been reposted for archival purposes on the new Makhazen.com website, following the rebrand of Agility Public Warehousing Company KSCP. 

Agility KSCP will align operations and investments with national economic priorities; plans to invest KD 100+ million through 2030 in Kuwait

KUWAIT – JUNE 18, 2025 – Agility Public Warehousing Company KSCP’s (Agility KSCP) new Board of Directors today announced a refocusing of its strategic direction, shaped by Kuwait’s promising growth outlook and aimed at accelerating infrastructure development.

The new strategy positions the company as a dedicated platform supporting Kuwait’s national development priorities under Kuwait Vision 2035.

This focus affirms Agility KSCP’s foundational mission, as defined by the Amiri Decree that established the company in 1979 to develop critical warehousing and infrastructure in Sulaibiya, Doha, and Mina Abdullah.

Positioning for Strategic Alignment with Kuwait Vision 2035

Agility KSCP is positioning its capital, operations, and leadership to support national economic priorities, with plans to invest more than KD 100 million through 2030. Agility KSCP will focus on high-priority sectors including:

• Facilitating government initiatives to attract FDI and develop Mubarak Al Kabeer Port
• Contributing to the development of new economic zones such as the Northern Area project
• Customs modernization and supply chain enablement
• Industrial real estate and warehousing
• Industrial waste management and recycling infrastructure
• Development of major data centre projects
• Promoting the resilience and security of Kuwait’s food and health care sectors

The company’s streamlined, Kuwait-centric strategy unlocks operational agility and capital efficiency by consolidating its footprint in a growth market where it has long-standing execution capability and deep institutional knowledge.

Driving Impact Through Governance and Capital Alignment

To better support Agility KSCP’s new direction and improve the company’s responsiveness to government priorities, Agility KSCP is taking several structural steps:

• National alignment: Formation of a permanent senior board committee dedicated to aligning with national initiatives and enhancing stakeholder coordination, with a particular focus on deepening engagement and responsiveness to government priorities and policy direction.
• Unlocking shareholder value through an in-kind distribution of Agility Global PLC stake: Agility KSCP’s Board is enhancing value for its shareholders through an in-kind dividend distribution of an approximately 20% stake in ADX-listed Agility Global PLC to shareholders of Agility KSCP. This strategic move provides a direct and tangible return, allowing shareholders to benefit from a stake in a high-potential entity. By increasing Agility Global PLC’s free float, the distribution is expected to significantly improve share liquidity, enhance price discovery, and position Agility Global PLC for greater visibility and potential inclusion in key equity indices. This initiative reflects the Board’s ongoing commitment to maximizing shareholder value and aligning long-term interests.
• Fostering Kuwaiti Talent: Building on its longstanding commitment to developing Kuwaiti human capital, the company will intensify efforts to recruit, develop, and retain Kuwaiti nationals—who will serve as the driving force behind the strategy.
• New brand: To provide further clarity for shareholders and stakeholders, Agility KSCP will in due course carry a new name that reflects its new mission.

Together, these strategic priorities are designed to enhance focus and operational efficiency and unlock long-term value—reinforcing Agility KSCP’s position as a trusted industrial partner and key enabler of Kuwait’s economic growth.

Offering Investors Access to Kuwait’s Growth

Tarek Sultan, Vice Chairman of Agility KSCP, said: “As a company with deep national roots, we are aligning every aspect of our operations and capital allocation to serve Kuwait’s long-term economic transformation. This evolution to focus on Kuwait’s infrastructure priorities offers investors direct access to the country’s most promising non-oil growth sectors—backed by committed capital, local execution strength, and strategic alignment with government objectives.

Our KD 100+ million investment in Kuwait’s logistics and infrastructure sector underscores our belief in the country’s strategic geographic position, resilient economy, and fast-growing e-commerce market. We’re proud to support the development of advanced logistics and industrial infrastructure that will drive trade, create jobs, and contribute to Kuwait’s broader economic diversification efforts.”

In-Kind Dividend Announcement

Agility’s Board of Directors has approved an in-kind dividend for Q1, 2025 in the form of shares in Agility Global PLC, representing around 20% of Agility Global PLC’s issued share capital. Under the approved terms, eligible shareholders of Agility KSCP will receive 82 shares of Agility Global PLC for every 100 shares held in Agility KSCP.

This distribution reflects the Board’s ongoing efforts to unlock shareholder value, improve trading liquidity for Agility Global, and enhance the company’s eligibility for index inclusion.

KUWAIT, 25 May 2025 – Agility, a supply chain services, infrastructure and innovation company, held its Annual Ordinary General Assembly Meeting with a quorum of 63.7%.

The company’s shareholders approved all the items on the agenda, including Agility’s audited financial results for the year 2024, and endorsed the Board of Directors’ recommendation for a cash dividend of 10%, equivalent to 10 fils per share, for the year 2024. These dividends are entitled for the shareholders who will be registered on the company’s shareholders’ record on the settlement date 25 June 2025. Dividends will be distributed on 30 June 2025.

The Annual Ordinary General Assembly also elected new board of directors for the coming three years.

New board members are as follows:

Non-Independent Members:

1. Arab Market General Trading and Contraction Co represented By Mr. Faisal Al Sultan
2. White Tower General Trading and Contracting represented by Mr. Tarek Abdulaziz Sultan Al Essa
3. Mr. Abdulaziz Nader Al Essa
4. Public Institution for Social Security (appointed)

Independent Members:

1. Mr. Naser Mohammad Fahad Al Rashed
2. Mr. Sultan Anwar Al Essa
3. Mr. Abdulmajeed Hajji Hussein Al Shatti

In 2024, reported full year net income of KD 63 million equivalent to 25.07 fils per share. EBITDA stood at KD 277 million and revenue of KD 1,528 million.

Numbers above are rounded.

KUWAIT – May 18, 2025 – Agility, a supply chain services, infrastructure and innovation company, today reported Q1 2025 net income of KD 11.6 million, equivalent to 4.65 fils per share. EBITDA stood at KD 67.6 million on revenue of KD 389 million.

Note Q1 2025 figures are not comparable to Q1 2024 due to distribution of 49% shares in Agility Global as in-kind dividends that occurred in May 2024.

Performance update

Agility Vice Chairman Tarek Sultan said: “We are pleased to report that the year has started on a positive note from an operational perspective. While market conditions remained somewhat challenging, our operating entities continued to demonstrate good organic growth. This performance reflects the strength of our diversified portfolio and the commitment of our teams across the business.”

Agility KSCP’s performance in the first quarter was primarily driven by Agility Global PLC, which reported an EBIT of USD 92 million and revenue of USD 1,143 million in Q1 2025. These results were supported by strong contributions from its three largest businesses: Menzies, Tristar, and Agility Logistics Parks (ALP). Financial performance for Agility Global in the period was impacted by higher depreciation and interest expenses associated with ongoing investments to support future growth.

“Other businesses in Kuwait, remain committed to executing their growth strategies while actively pursuing opportunities to enhance value and returns for shareholders,” Sultan said. “GCS remained focused on driving operational efficiency and growth, while MRC achieved a significant milestone by securing the contract to develop and operate a Metal Reclamation Facility (MRF) for KNPC and KIPIC refineries — an important addition to our industrial services portfolio.”

He added: “We’re also pleased with the steady progress at ALP Kuwait’s S2/South Village project, a strategic commercial and logistics hub designed to serve the growing needs of Sabah Al-Ahmad City. The project is advancing as planned, with first deliveries scheduled for 2025.”

Recap of Agility KSCP Q1 2025 Financial Performance

• Agility’s net profit was KD 11.6 million and EPS was 4.65 fils.
• Agility’s EBIT stood at KD 40.6 million and EBITDA KD 67.6 million.
• Agility’s revenue increased 16% to KD 389 million and net revenue increased 11%.
• Agility enjoys a healthy balance sheet with KD 4.2 billion in assets.

Agility reported an operating cash flow of KD 56 million for the first quarter of 2025.

Empowering 25 Engineering Graduates in Kuwait with Facilities Management Skills

KUWAIT– April 16, 2025-  Agility, a supply chain services, infrastructure and innovation company, collaborated with Engineering Systems Group (ESG) to offer an accelerated facility management training that is tailored for 25 of Kuwaiti Youth for the third year-in-a row.

The Facilities Management training program is part of the Work-Maker Project run by Kuwait’s Youth Authority, and is a national workforce development initiative that equips young Kuwaiti engineering graduates from Kuwait, US, and UK universities with practical training and career opportunities in key industries, preparing them for public and private sector jobs based on real market needs. A total of 35 engineering graduates enrolled in the program, with 25 participating in the course delivered by Agility and Engineering Systems Group—representing 71% of total participation

For the third consecutive year, ALP and ESG provided theoretical and hands-on training on best practices in industrial zone management, modern facility management technologies, and leadership in safety, security, and environmental management. Over five weeks, the young Kuwaiti engineers received 125 hours of training, including intensive workshops and field training at Agility’s logistics facilities. Under the guidance of an experienced team, participants developed key skills before completing a final exam to earn a facility management certification.

Nader Sakeen, CEO ALP Kuwait and Gulf, said: “As Kuwait and the region continue to advance their development projects, there is a growing need for highly skilled national talent in facilities management to oversee these projects in line with global standards for safety, security, and environmental sustainability. We are proud to continue our partnership with ESG and Youth Public Authority for the third consecutive year and we remain dedicated to supporting initiatives that grow local talent and contribute to Kuwait’s long-term development goals.”

Ahmed B. Al-Eisa Chairman and CEO of ESG, said: “At ESG, we are committed to investing in Kuwait’s future workforce. With new projects being launched and existing ones progressing, the demand for skilled facilities management professionals is growing. This is why ESG is proud to collaborate with our partners at Agility and the Youth Public Authority to equip and train local talent, enhancing their practical skills and supporting the aspirations of both the public and private sectors.”

• Deal expands Menzies’ U.S. footprint; enhances passenger services offering across major U.S. airline hubs
• Menzies’ global network will increase to 340 airports and 65,000 employees
• The deal is expected to boost Menzies’ revenue by 20% per annum to over $3.1 billion,
  based on FY 2024 earnings

14 April 2025, London: Menzies Aviation, an Agility Global company, and the leading service partner to the world’s airports and airlines, announces today that it has signed a $305m USD agreement to acquire U.S-based G2, an aviation service partner of choice for major airlines across the United States.

Once the deal is completed, Menzies will operate in over 340 airports in 65 countries with a global team of 65,000 highly trained people. The deal is expected to boost Menzies’ group revenue by 20% to over $3.1 billion, based on FY 2024 revenue figures.

This deal strengthens Menzies’ position as the largest aviation services business globally, by countries, airports and aircraft turns.

John Redmond, Executive Vice President Americas, Menzies Aviation said: “This acquisition is a key milestone in our longer-term value creation strategy. We are already the global industry leader in terms of countries, airports and aircraft turns and this transaction will expand our footprint to 340 airports worldwide. This deal enhances our presence in the United States – the largest and most dynamic aviation market worldwide, and we look forward to working with the G2 team to realise the potential for growth. We are confident in the resilience and strength of the U.S. economy and aviation market, where we have been a key player for 25 years.”

Menzies first entered the U.S. market in 2000 and is currently an industry leader providing safe and high-quality ground, air cargo and fuel services. Established in 2005, G2 has a strong growth history within the U.S., with a focus on providing passenger assistance, cabin cleaning and ground and air cargo handling at airports across the country, including major airline hubs. G2’s services complement and expand Menzies’ current service offering to customers.

This agreement, which involves the acquisition of the entire G2 business, will expand on Menzies’ best-in-class service offering for airline customers with nearly 20,000 employees working across more than 100 airports across the U.S.

In a fragmented aviation services market, airlines and airports will benefit from having an established operator with scale that can leverage its extensive track record to establish a new standard of service focused on operational excellence. G2 will rebrand as Menzies, and the business will roll out its industry-leading training and safety-first culture, sustainability practices and innovative technology across its new airports of operation.

The transaction to purchase G2 is subject to regulatory approvals and is expected to complete in June 2025.

Julie Gostic, Chief Executive Officer, G2 said: “We’re proud to be joining Menzies Aviation, the global leader in aviation services, and entering an exciting new era of growth. I look forward to building on our reputation for consistency and high-quality standards while also maintaining a close relationship with our customers, who can expect to see the same level of premium service. G2 customers and our employees will benefit from Menzies’ experience in setting global standards for service, safety and sustainability. We look forward to entering this exciting new era with Menzies.”

For further information contact:

Bronwyn Torrie, Head of Communications, Menzies Aviation
via DGA Group
DGA Group, One Fleet Place, London, EC4M 7RA
[email protected]
Tel: +44 (0)7894 991 586

Numbers above are rounded.

KUWAIT – April 2, 2025 – Agility, a supply chain services, infrastructure and innovation company, today reported full year net income of KD 63 million equivalent to 25.07 fils per share. EBITDA stood at KD 277 million and revenue of KD 1,528 million.

The 2024 figures include the impact of the In-Kind Dividend Distribution in the form of shares in Agility Global PLC, a 51%-owned subsidiary now listed on the Abu Dhabi Securities Exchange (ADX), has led to an increase in minority interest, thus periods are not comparable. Included in 2024 full year results is a one-off net impact of KD 43 million resulting from legal claims for and against the company.

Performance update

“With the listing of Agility global on ADX, we sought to unlock additional value for Agility shareholders, this has also given our largest business units exposure and access to a broader international investment community,” said Agility Vice Chairman Tarek Sultan.

For 2024, Agility delivered strong results as its operating entities continued to expand and capitalize on new opportunities. “Agility Global, our primary subsidiary, reported EBIT growth of 21.4%, driven by the strong performance of its three largest businesses: Menzies, Tristar, and Agility Logistics Parks (ALP). Menzies experienced growth in new operations across Europe and Asia, Tristar continued its positive trajectory, and ALP expanded its footprint in Saudi Arabia. On the investment front, DSV announced its acquisition of Schenker which will make DSV the world’s largest freight forwarder and logistics provider.

In Kuwait, the businesses remain focused on executing their growth strategies and identifying opportunities to maximize value and returns for shareholders. GCS is focused on growth and driving efficiency.  MRC was the successful bidder to develop and operate Metal Reclamation Facility (MRF) to reclaim metals from the spent catalyst from KNPC & KIPIC refineries., Sultan said.

Key developments in Kuwait included the S2/South Village. ALP Kuwait is developing S2, or South Village, a multi-purpose commercial, logistics and crafts/services zone serving Sabah Al-Ahmad City, Kuwait’s next-generation city. Development on S2 project is progressing and is expected to deliver its first units during 2025. 

End of Year Dividends Recommendation

Agility’s board is recommending a cash dividend of 10%, equivalent to 10 fils per share, for the year 2024. This recommendation is subject to the approval of the General Assembly.

Outlook

“We enter 2025 optimistic about the future and the opportunities to grow both globally and in Kuwait, driving value for our shareholders, employees, customers, and communities,” Sultan said.

Recap of Agility KSCP FY 2024 Financial Performance

• Agility’s net profit was KD 63 million and EPS was 25.07 fils.
• Agility’s EBIT increased 5.8% and EBITDA increased 7.8% to KD 277 million.
• Agility’s revenue increased 13% to KD 1,528 million and net revenue increased 19.2%.
• Agility enjoys a healthy balance sheet with KD 4.2 billion in assets.
• Agility reported an operating cash flow of KD 238 million for the full year of 2024.