Agility Posts Impressive Net Profit of KWD 83.6 Million for 2023 and Significant EBITDA Growth

Agility reported its financial results for the fourth quarter of 2023, posting profits of 26 million Kuwaiti dinars, equivalent to 10.2 fils per share. Earnings before interest, taxes, depreciation, and amortization for the quarter increased by 21.6%, reaching 77.5 million Kuwaiti dinars, while revenues also rose to 343.9 million Kuwaiti dinars, up by 2.2%.

For the full year of 2023, Agility achieved a net profit of KWD 83.6 million, equivalent to KWD 32.7 fils per share, marking a KWD 54% increase over the previous year. EBITDA also showed significant growth at KWD 42.4%, reaching KWD 194 million dinars with revenues increasing by KWD 118% to KWD 1.4 billion dinars.

It is important to note that Agility’s income statement only reflects its share of DSV’s cash dividends due to accounting treatment of the DSV investment. However, by considering the company’s proportionate share of EBITDA, Agility’s earnings before interest, taxes, depreciation and amortization can increase by approximately KWD