Please be informed that Agility Global PLC’s Board met on Thursday 13th February 2025, at 03.00 pm (UAE Time) and approved the preliminary financial results for the Full Year ending December 31, 2024, as per the attached template
Please be informed that Agility Global PLC’s Board will meet on Monday 17th February 2025, at 03.30 pm (UAE Time) to discuss the below items on the agenda:
- The adoption of an employees’ share option plan (the “Plan”).
- The Invitation for the general meeting of the company to be convened to approve the Plan and the purchase of company’s shares for the purpose of the Plan.
- Other items on the agenda related to the company’s normal course of business.
Please be informed that Agility Global PLC’s Board will meet on Thursday 13th February 2025, at 03.00 pm (UAE Time) to discuss the preliminary financial results for the Full Year 2024.
As part of the Company’s continued effort in managing its stake in DSV AS and the existing hedges over some of its DSV shares, Agility Global PLC has issued corporate guarantees to some of the existing hedging banks for a total amount of EUR 75.6M. The guarantees are issued as part of an optimisation of the current hedging structure.
The number of hedged shares remains the same and no additional funding is extended to the Company.
Agility Global PLC would like to announce that one of its subsidiaries, will give a short-term facility for $400m to Al Farwaniya Property Developments LLC (“Farwaniya”), the company that owns and is developing Reem Mall.
This is a short-term loan as Al Farwaniya Property Developments LLC is in the process of finalising a new facility with third party lenders.
Since Agility Global fully guarantees Al Farwaniya existing facility, which is being repaid, this guarantee will fall away upon repayment of the existing facility, thus the short-term loan will have no material impact on Agility Global’s obligations, however, the amount will be reflected as a loan to a related party in the company’s financials.
Agility Global PLC’s subsidiary has signed a credit facility agreement with a number of regional and international banks for a total amount estimated at $1.4bn consisting of Euros 1bln and $ 370 mln. The facility has maturities of 3 years and 5 years from signing.
This new credit facility will be used to fund ongoing operations and future growth as well as settling outstanding liabilities including inter-company balances.
As part of the refinancing, Agility Global and its subsidiaries will also be entering into various uncommitted credit lines with relationship banks in order to manage ongoing business operations in the ordinary course of business. This can include issuing trade guarantees, executing foreign exchange and interest hedging as well as other cash management related lines such as short-term overdrafts. There is no change in the liabilities of the Company as of today as a result of this.
Agility Global would like to announce that it’s fully owned subsidiary, Agility Logistics Parks (ALP) has signed a strategic partnership with Riyadh Development Company (ARDCO), a leading Saudi property development and management company, to build a state-of-the-art warehousing in Riyadh. ALP’s contribution to this partnership is 60%.
The total project value is SAR 227m and involves construction of 58,000 SQM of Grade A warehousing on a 97,904 SQM parcel of land in Riyadh.
The project construction duration is 2 years and will commence in the first half of 2025.
Please be informed that Agility Global PLC held its Q3 2024 Analyst Webcast on Thursday 14th of November 2024 at 4.00 pm (UAE Time). Please find attached the presentation that was discussed.
Please be informed that Agility Global PLC will hold its Q3 2024 Analyst Webcast on Thursday November 14th 2024 at 4.00 pm (UAE Time).Interested parties can register through this link.
Q3 2024 (Million USD) | Q3 2023 (Million USD) | Variance (%) | 9M 2024 (Million USD) | 9M 2023 (Million USD) | Variance (%) | |
Revenue | 1,226.9 | 1,057.8 | 16% | 3,314.5 | 2,938.9 | 13% |
EBITDA | 180.4 | 151.7 | 19% | 517.3 | 408.6 | 27% |
EBIT | 104.6 | 76.8 | 36% | 292.7 | 200.6 | 46% |
Net Profit | 37.1 | 0.8 | 4532% | 97.4 | 3.5 | 2703% |
EPS (cent) | 0.36 | 0.01 | 1.14 | 0.04 |

ABU DHABI – November 12, 2024 – Agility Global PLC, a multi-business owner and operator and long-term investor in global and regional businesses, today reported Q3 2024 earnings of $37.1 million, or 0.36 cents per share. EBIT grew 36% to $104.6 million, and revenue increased 16% to $1.2 billion. (Note that figures for the comparable period are carved-out financials).
For the first nine months of 2024, earnings stood at $97.4 million, or 1.14 cents per share. EBIT grew 46% to $292.7 million, and revenue increased 13% to $3.3 billion.
“Agility Global maintains the healthy growth momentum seen since the beginning of the year. Our controlled businesses delivered double-digit EBIT growth. That growth was driven by the main three businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia, Tristar has grown in fuel business and its road and transport segment, and ALP grew in Saudi Arabia; and is further expanding in the Kingdom,” said Agility Global Chairman Tarek Sultan. “On the investment side, the share price of DSV, the company’s largest investment, has been positively impacted by DSV’s acquisition of Schenker. When the deal closes, expected in 2025, DSV will become the world’s largest freight forwarder. Today, Agility is the largest investor in DSV. The increase in DSV’s share price has resulted in an increase in the carrying value of our investment. Due to the accounting treatment, this increase will be reflected through equity and not through profit-and-loss statement.”
Interim Dividends
Agility Global’s board has approved the distribution of $65 million as the second interim cash dividends for Q3 2024. Shareholders registered on the company’s registrar as of the settlement date 21 November 2024 are entitled to the dividends.
Q3 2024 Performance
Controlled Segment
For Q3 2024, the consolidated EBIT of the controlled businesses was $102 million; EBITDA was $177.7 million; and revenue $1.2 billion. This reflects increases of 20%, 11% and 16%, respectively, over the same period in 2023.
Aviation Services: Menzies
Menzies reported revenues of $704 million and increase of 24% compared to same period last year, this was driven by several new operations including license wins in Spain, acquisitions in Portugal, new operations in Belgrade, and a new warehouse in Bangalore. Q3 EBIT stood at of $60 million – an increase of 55% over the same period a year prior and EBIT margin improved from approximately 6.8% to 8.5% as a result of efficiencies, synergies, and operational leverage. YTD EBIT increased 41% from $103.1 million in 2023 to $145.3 million in 2024.
Fuel Logistics: Tristar
Tristar a fully integrated fuel logistics business continued to deliver strong performance in the third quarter of 2024, Revenue stood at $ 337.2 million with a growth of 23% and EBIT stood at $34 million with a growth of 7% compared to Q3 2023.
Industrial Real Estate: Agility Logistics Parks
Agility Logistics Parks (ALP), a leading developer of warehouse parks and light industrial facilities, reported revenue of $13.2 million and EBIT of $9.6 million increases of 12% and 20%, respectively. ALP’s growth was driven mainly by its Saudi Arabia operations. Recently, ALP announced a development of an additional 100k SQM of warehousing space in Riyadh, part of which will be operational during the first quarter of 2025.
Investments Segment
Agility Global holds non-controlling minority stakes in a number of businesses, both listed and non-listed. As of 30 September 2024, the carrying value of those stakes was roughly $5.1 billion an increase of around USD 485 million from December 31, 2023. The main investments in this segment are in DSV and Reem Mall.
DSV is a Copenhagen-based logistics company and is expected to become the world’s number one freight forwarder when it completes its acquisition of Shenker, based in Germany. Agility Global owns a total of 19.3 million shares today, equivalent to more than 8% of DSV’s capital, making it one of the Denmark-based company’s largest shareholders. DSV’s share price was boosted by the announcement that DSV will acquire Schenker. The upward movement in DSV’s share price increased the carrying value of this investment, which was $4 billion as of September 2024.
Reem Mall – Agility Global is an investor in Reem Mall on Abu Dhabi’s Reem Island. Agility Global’s investment in Reem Mall is through equity and convertible debt. The mall had a soft opening to the public in February 2023 and launched formally in May 2024. To date, 183 units are trading, and almost 80% of Gross Leasable Area (GLA) is committed. More tenants are expected to announce openings in coming months. The mall is one of the region’s first, fully integrated omnichannel retail ecosystem with digital, e-commerce, and logistics capabilities. It brings together all consumer and retail services to ensure a seamless customer experience.
Recap of Agility Global Q3 2024 Financial Performance
- Revenue increased 16% to $ 1.2 billion.
- EBITDA increased 19% to $ 180.4 million, with 15% margins.
- EBIT increased by 36% to $ 104.6 million, with 9% margins.
- Net profit stood at USD 37.1 million equivalent to 0.36 cent per share.
- Agility Global enjoys a healthy balance sheet with $ 11.4 billion in assets and USD 5.7 billion in equity.
- Operating cash flow was USD 393 million for the first 9 months of 2024. Agility Global spent a total of USD 180 million in CAPEX and investments for the same period.