Agility Public Warehousing Company KSCP reported a net profit of KD 8.7 million from continuing operations for the second quarter of 2025, representing a 196% increase compared to the same period last year. The results follow a strategic repositioning by the company, which aims to align with Kuwait Vision 2035 and focus on national infrastructure development.
On June 17, 2025, Agility’s Board of Directors approved this new direction, which includes investments exceeding KD 100 million through 2030 in key sectors supporting Kuwait’s economic priorities. The company also announced steps such as fostering Kuwaiti talent and rebranding efforts.
As part of its strategy, Agility’s Board approved an in-kind dividend distribution amounting to 20.09% of its shares in ADX-listed Agility Global Plc. This move is intended to give shareholders direct exposure to a high-growth business and improve liquidity and price discovery for Agility Global shares.
Following this dividend distribution, Q2 2025 marks the first quarter that Agility reports results from continuing operations while accounting for the one-off non-cash impact related to Agility Global. Revenue for the quarter stood at KD 36.1 million, with EBITDA reaching KD 16.2 million—a year-over-year increase of 36%.
For the six months ending June 30, net income from continuing operations was KD 18 million (a rise of more than 45% over last year), with revenue at KD 73.9 million and EBITDA at KD 32.2 million.
In accordance with IFRS 5 accounting standards, Agility Global PLC was classified as “held for distribution to shareholders” during Q2. As a result, Agility recognized a non-cash loss of KD 292 million attributable to shareholders due to the difference between book value and market value as of June 30, leading to a consolidated net loss for Q2 of KD 282 million.
The company emphasized that this loss is an accounting adjustment stemming from the dividend distribution and does not reflect Agility Global’s ongoing performance.
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.”
Within Kuwait, portfolio businesses continue their growth strategies aimed at increasing shareholder value. GCS is focusing on expansion and operational efficiency; MRC recently secured a contract to develop and operate a Metal Reclamation Facility processing spent catalysts from KNPC and KIPIC refineries; while Kuwait Logistics Parks is advancing development on South Village (S2), an integrated commercial hub serving Sabah Al-Ahmad City.
As of June end, Agility still owned a majority stake in Agility Global but will reduce its holding post-dividend distribution in July—down to about one-quarter ownership—which will be reflected starting Q3 financials.
Agility Global reported strong profitability growth in Q2 driven by subsidiaries like Menzies and Logistics Parks; Tristar showed steady revenue growth despite some challenges in maritime operations. For Q2: earnings were $24 million; EBIT grew by five percent; EBITDA increased eight percent; revenue rose eight percent year-over-year; total assets reached $12.7 billion with shareholder equity at $5.8 billion.
