Supply Chain News / Economic Development / Finance & Credit

Agility’s Earning Release for the Q1 2014

Agility earned a net profit increase of 11 percent compared to the first quarter of 2013.

May 9, 2014
/ Print / Reprints /
ShareMore
/ Text Size+

Agility announced its financial results for the first quarter of 2014, reporting a net profit of KD 11.24 million, an increase of 11 percent compared to the first quarter of 2013. Earnings-per-share stand at 10.77 fils. Revenues for the first quarter stand at KD 314.28 million, an 11 percent decrease compared to the same period last year. EBITDA stands at KD 22.48 million, a 4 percent increase compared to Q1 of 2013.

“Overall, Agility continues to improve its financial performance by focusing on growing its Infrastructure portfolio of companies and simultaneously driving transformation of its core commercial logistics (GIL) business. The Infrastructure companies started the year on a strong note, posting healthy revenue growth. GIL performance this quarter is more mixed. On one hand, GIL continues to make progress in transforming its underlying operating platform, sales and commercial strategy, and maintaining ongoing cost discipline. On the other hand, top line growth is challenged by market conditions that are affecting the industry overall. Going forward, top line growth within GIL is an important focus area,” said Tarek Sultan, Agility’s CEO.

Agility’s Global Integrated Logistics

Revenue for Agility Global Integrated Logistics (GIL) for the first quarter of 2014 was KD 253.30 million, a decrease of 15 percent from Q1 2013. The drop in revenue is attributable to several factors, including difficult market conditions that have led to rate deterioration despite volume increases.

The drop was partially mitigated by better procurement in the freight business, which led to margin expansion from 21 percent in Q1 2013 to 23 percent in this quarter.

GIL’s priority areas of focus remain consistent. First, is to continue to drive commercial improvement across its global accounts and field sales, product performance and specialty businesses. Second, is to transform the underlying business through ongoing technology, process and management improvements. Third, is to maintain financial discipline and a lean and agile structure that is in line with business needs.

Agility’s Infrastructure Group

Agility’s Infrastructure companies contributed KD 62.73 million to first quarter 2014 revenues, a 9 percent increase over Q1 2013.

Infrastructure companies continue to be strong contributors to the company’s financial performance. Agility Real Estate, the financial heavyweight in the Infrastructure group, grew its revenues by 14 percent in Q1 2014, compared to the same period in 2013. Agility Real Estate continues to explore growth opportunities in frontier emerging markets with an under-served need for world-class industrial facilities.

Other Infrastructure companies are also working on growing their business and expanding their customer base in frontier emerging markets.

Recap of Financial Performance for Q1 2014
• Agility’s net profit stands at KD 11.24 million, an 11 percent increase from KD 10.13 million in Q1 2013. EPS was 10.77 fils, compared to 9.71 fils a year earlier.
• EBITDA stands at KD 22.48 million, a 4 percent increase from the same period a year before.
• Total SG&A decreased by 8 percent in Q1 2014 compared to Q1 2013.
• Agility’s revenues for the Q1 2014 are KD 314.28 million, a decrease of 11 percent from KD 352.56 million in the same period in 2013. Agility’s net revenues decreased by 3 percent over the same period.
• GIL’s revenue stands at KD 253.30 million, a 15 percent decrease from KD 297.0 million a year earlier.
• Infrastructure’s revenue was KD 62.73 million compared with KD 57.58 million in Q1 2013, a 9 percent increase from Q1 2013.
• Agility enjoys a healthy balance sheet, with a net cash position of KD 88 million as of March 31, 2014, and free cash flow of KD 6 million for the 1st quarter 2014.

“Agility continues to deliver value to shareholders by pursuing three things in tandem. First, continuing to drive change in Global Integrated Logistics to maximize the potential of this business. Second, growing and developing our Infrastructure portfolio of companies to continue to take advantage of profitable niche market segments in fast-growing emerging markets. And third, staying open to acquiring high-performing businesses that realize immediate financial value for the company,” said Sultan.  

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

KC SmartPort Momentum

Kansas City SmartPort Momentum 2013 focused on 3PLs, the issues facing the industry, and the role or logistics in economic development

Podcasts

 

Calculating a true landed cost for global sourcing directly correlates with the profitability of purchased goods. However, few companies can command real-time visibility in to all the costs involved for cross border movements. In this podcast, World Trade 100 and Amber Road highlight how a comprehensive global trade platform that converges both logistics and compliance costs can deliver true landed cost visibility.

 

Speaker: Hung Lee, Senior Product Manager, Amber Road

More Podcasts

World Trade 100 Magazine

wt september 2014

2014 September

Check out the September 2014 edition of World Trade WT100, featuring the 2014 Logistics Directory, plus much more!
Table Of Contents Subscribe

Supply Chain Webinars

What types of supply chain webinars do you get the most use out of?
View Results Poll Archive

WT100 STORE

world-class-warehousing.gif
World-Class Warehousing and Material Handling, 1st Edition

Filled with proven operational solutions, it will guide managers as they develop a warehouse master plan, one designed to minimize the effects of supply chain inefficiencies as it improves logistics accuracy and inventory management - and reduces overall warehousing expense.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Use our interactive maps to locate service providers across North America.Interactive Map

Logistics Development Partners 

IWLA Members

STAY CONNECTED