Dear Investor,

With reference to our previous announcement to the Stock Exchange regarding our strategy to invest KD 20 million in disruptive technologies in the field of sustainability and corporate social responsibility, and as far as Hyliion investment is concerned, Agility has subscribed to 6.15 million shares (roughly KD 12 mln) in Hyliion via Colle Capital. However, we have no confirmation of the subscription nor have we received the share certificates yet.

Best regards,
Investor Relations Team

Date 05 October 2020
Company Name Agility Public Warehousing Company KSCP
Previous Disclosure Title Disclosure of Material Information
Previous Disclosure Date 28 June 2020
Development on previous disclosure With reference to our announcement dated 28 June 2020, and as part of our strategy to invest in disruptive technologies in the field of sustainability and corporate social responsibility, Agility has made several direct and indirect minority investments over the past couple of years in partnership with Colle Capital, a US-based technology investment company.

In furtherance of this strategy, Agility will be investing approximately $ 65 million with various Colle Capital funds to identify early and later stage opportunities including but not limited to Hyliion.  Investment decisions are made as per the discretion of Colle Capital and shall be subject to confirmed allocation by prospective issuers.

Financial impact As a result of these commitments, Agility will invest $ 65 Million in on or more technology ventures at the discretion of the Fund Managers.

Agility would like to disclose that it has received CMA’s approval to buy and sell its treasury shares for a period of 6 months from the approval’s date. Please click here to view the approval letter.

Best Regards,
Investor Relations Team


Date 09 September 2020
Company Name Agility Public Warehousing Company KSCP
Previous Disclosure Title Agility awarded an investment project in Sabah Al Ahmed Residential Area
Previous Disclosure Date 14 June 2020
Development on previous disclosure Reference to our previous disclosure dated 14 June 2020 regarding the investment project in Sabah Al Ahmed City (S2), please note as a continuation of the process a Public Private Partnership Agreement has been signed between: S2 for Real Estate and Development Company – a fully owned subsidiary of Agility Public Warehousing Company K.S.C.P. – and Public Authority for Housing Welfare (PAHW). The agreement provides for the development of over a 1.2 million sqm of land as industrial and storage zones plus labor camp located in Sabah Al Ahmed area for a period of 30 years, starting from the date of the commercial operations of the project.
Financial impact The expected investment in this project is around KD 104 million

Dear Investor,

Date 30/08/2020
Company Name Agility Public Warehousing Company KSCP “Agility”
Case Number 5600 of year 2018 Administrative/ 12 and its appeal No. 2276/2019 Administrative Individuals and Contracts / 1.
Case Subject Agility filed suit No. 5600 of 2018 against / the Minister of Commerce and Industry in his capacity as Chairman of the Board of Directors of the Public Authority for Industry and  in his capacity as Director General of the Public Authority for Industry and others, and requested an urgent stay of the implementation of Administrative Resolution No. (H.A.S. / 129 of 2018) issued by the Director General of the Public Authority for Industry ordering the eviction of Agility, as per contract No. (157/1998), from phases (1, 2, and 3) plots in South Amghara, and Agility further requested that the decision be cancelled in all its parts and for it to be considered it as if it was not issued and to cancel all its effects and the consequences thereof.
Date of the decision 30/10/2019
Court Decision Court of First Instance
Parties involved Agility Public Warehousing Company KSCP against (1) Minister of Commerce and Industry in his capacity as Chairman of the Board of Directors of the Public Authority for Industry; (2) Director General of the Public Authority for Industry in his capacity; (3) Director General of Kuwait Municipality in his capacity; (4) Undersecretary of the Ministry of Interior in his capacity.
Decision in favor of Public Authority for Industry
First Instance court decision   On October 30, 2019, the court ruled by accepting the case in form, rejecting it in substance, and obliging the claimant company to pay the expenses and Ten KWD for attorneys’ fees.
Appeal No.   2276/2019 Administrative Individuals and Contracts / 1.
AppealCase Subject Appeal of Judgment No. 5600 of 2018 Administrative / 12, which rejected Agility’s claim to annul Resolution No. (H.S./ 129 of 2018).
Court of Appeal Date of decision 25/08/2020
Parties involvedin Appeal Agility Public Warehousing Company KSCP is the appellant.
Appeal Decision in favor of Public Authority for Industry 
Court of Appeal Decision The court ruled accepting the appeal in form, rejecting it in substance, and confirming the appealed judgment. Agility was obligated to pay the court expenses and an amount of 30 KWD for attorneys’ fees.
Financial Impact This judgment will be appealed before the Court of Cassation. This judgement has no financial impact on the Company at this time as this issue is being considered in another case related to the same dispute, which is Case No. 314 of 2019. /C.C.G.G 5 and its appeals Numbers 1847, 1990, 2015 for the year 2019 C.C.G / 1 and its court of cassation appeals numbers 3900 for the year 2019 Commercial / 4, 186, 335, 348, 560, 561, 562 for the year 2020 Commercial / 4 which are currently being examined before the Court of Cassation.

Best regards,

Investor Relations Team

We wish to inform you that the quarterly Analyst/ Investors Conference was held through a Live Webcast at 2:00 pm local time on Wednesday, 19 August 2020.

Please refer to the attachment for the minutes of the conference and the Investor presentation (Q1+Q2-2020)

1H 2020(Million KD) 1H 2019(Million KD) Variance(%)
Revenue 765.1 775.0 -1.3%
Net Revenue 243.6 253.0 -3.7%
EBITDA 75.8 95.0 -20.1%
Net Profit 16.2 41.9 -61.3%
EPS (fils) 8.47 21.89 -61.3%

Numbers above are rounded


KUWAIT – August 15, 2020 – Agility, a leading global logistics provider, today reported first-half earnings of 8.47 fils per share on net profit of KD 16.2 million, a decrease of 61.3% over the same period in 2019. EBITDA declined by 20.1% to KD 75.8 million, and revenue declined 1.3% to KD 765.1 million.

Tarek Sultan, Agility Vice Chairman and CEO, said: “We entered 2020 with our business on sound footing, which is one reason that we were able to react quickly to the sweeping impact of the COVID-19 pandemic. We acted immediately to protect employees, customers, and communities, including providing donated logistics support for local governments and NGOs around the world. We also took steps to bring operating expenses and other costs in line with the new environment. If the crisis has demonstrated anything, it is the essential value of logistics and supply chain providers in times of severe disruption.”

Sultan said the economic fallout from the pandemic has had an uneven effect on Agility businesses. “Our contract logistics business and logistics parks have weathered this reasonably well because demand for storage space has been steady or increased, especially as customers have looked to add to safety stock or support pandemic-driven increases in e-commerce sales.  In many instances, we are experiencing accelerated adoption of disruptive and emerging technologies related to the COVID-19 pandemic or underlying CSR paradigms.  Other Agility businesses, such as aviation and airport operations have been directly impacted by the decline in air travel and traffic and are now pivoting towards the development of pioneering new technologies that will be essential to the re-enablement of global travel.”


Agility Global Integrated Logistics (GIL)

Global Integrated Logistics’ first-half EBITDA was KD 28.8 million, a 1.3% increase from the same period in 2019. This was driven by strong Contract Logistics, Project Logistics, and Air Freight results, as well as a sharp focus on containing costs.

GIL’s H1 net revenue was KD 135.8 million, in line with last year’s performance. Net revenue increased in Contract Logistics, Project Logistics, and Air Freight, but fell in Ocean Freight and Fairs & Events. GIL gross revenue was KD 570.6 million, a 2.5% increase from same period in 2019.

Volumes were down in both Air Freight and Ocean Freight in the first half of this year, by 23.6% in Air Freight (tonnage) and 14.8% in Ocean Freight (TEUs), due to COVID-19 impact on demand due to lockdowns, production stoppages, and economic contraction across industries and geographies. However, H1 saw higher yields in Air Freight due to capacity shortages and a spike in demand for urgent shipments of PPE and other medical equipment. First-half Air Freight net revenue increased 17% vs. the same period a year earlier, while Ocean Freight net revenue decreased 16% vs. same period last year.

Contract Logistics achieved healthy growth (7% net revenue growth), mainly in the MEA Region (Kuwait, Saudi Arabia) as the result of the addition of new facilities and increased operating efficiencies. Project Logistics showed strong performance across all regions with 25% net revenue increase, driven by new capital projects and positive volume development from existing customers. Fairs & Events net revenue fell 46% with the cancellation and postponement of key events.

Starting in Q1, GIL introduced a range of both temporary and permanent cost reduction measures in response to the pandemic. The measures are intended to ensure continued strength of profitability performance during a period of falling and volatile global trade activity. GIL continues to focus on operational productivity as well as customer solutions to respond to the changing market environment.


Agility’s Infrastructure Companies

Agility’s Infrastructure group EBITDA declined 18% to KD 56 million for the first half of 2020. This decrease was driven mainly by UPAC, NAS and GCS entities, which experienced significant declines as a result of the pandemic. In contrast, Agility Logistics Parks (ALP) and Tristar proved to be resilient during the first half of the year. Infrastructure group net revenue fell 8.4% and gross revenue declined 10.2%.

ALP revenue grew 4.5% in the first half amid increased demand for warehousing space, mainly from suppliers of medical equipment and food. ALP also witnessed strong demand from e-commerce players as it is strategically placed to service the requirements of fulfilment providers. ALP accelerated delivery of a few projects to meet customer demand. Developments in Kuwait, Saudi Arabia and Africa are proceeding as planned, despite some interruptions due to lockdowns.

Tristar, a fully integrated liquid logistics company, posted a 10% revenue decline in the first 6 months.  Despite that, Tristar’s contractual business model provided resiliency, allowing profitability to grow by double digits during the same period. The revenue decline in the first half of the year was primarily due to the sharp drop in fuel prices and volume slowdown from COVID-19 pandemic impacting Fuel and Road Transport and Warehousing (RTW) segments. The Maritime segment showed healthy growth due to the deployment of new vessels and strong market demand.  With the Coronavirus outbreak, Tristar took measures to ensure no business interruption for its customers. Although uncertainty remains in market, we believe Tristar is positioned us for a successful second half of 2020. Tristar continues to execute and to look for opportunities to unlock additional value for its shareholders.

National Aviation Services (NAS) reported a revenue decline of 29%, despite performing well in January and February.  In March, NAS revenue came under pressure as airlines and airports where it operates curtailed flights and related services, or in some cases, halted operations entirely. Despite the limited operations at many airports, NAS continued to serve evacuation flights, private jets, and cargo freighters. With airport and carrier activity resuming in some locations, NAS is seeing increased demand for its services. NAS’s focus for the remainder of 2020 will be on cash flow, reduction of costs in line with the two-year outlook for aviation, pursuit of new growth opportunities, and adjustment of policies and procedures to operate in a post-COVID world.

The pandemic impacted United Projects for Aviation Services Company (UPAC), which saw revenue fall 51.8% in the first half due to the cessation of operations at the Kuwait International Airport. In response, UPAC activated its business contingency plan and took steps to reduce the negative impact on its business.

At GCS, Agility’s customs modernization company, revenue fell 21%, due to precautionary measures taken by the Kuwait Government in response to COVID-19. Some border areas were closed temporarily starting March, curtailing trade and causing decreases in GCS revenue.

Sultan said: “In response to the COVID 19 crisis, all entities across the board activated their BCPs and cost alignment measures.  And even during these difficult times, each business has contributed to several CSR activities including delivering food to families in Kuwait and supporting the Kuwait Red Crescent Society’s initiatives. Agility also provided free warehousing and local transportation services as part of its COVID-19 response. In Mozambique, we moved PPE for seven hospitals and arranged for storage at the newly built Agility Logistics Park in Maputo.”


Recap of Agility H1 2020 Financial Performance

  • Agility’s net profit decreased 61.3% to KD 16.2 million. EPS was 8.47 fils vs. 21.89 fils a year earlier.
  • Agility’s EBITDA decreased 20.1% to KD 75.8 million.
  • Agility’s revenue declined 1.3%, to KD 765 million and net revenue decreased 3.7%.
  • GIL revenue increased 2.5% to KD 570.6 million.
  • Infrastructure’s revenue declined 10.2% to KD 202.8 million.
  • Agility enjoys a healthy balance sheet with KD 2.2 billion in assets. Net debt was KD 143.1 million as of June 30, 2020. Reported operating cash flow was KD 93.6 million for the first half of 2020, an increase of 128.2%.



“The full impact of COVID-19 is not yet clear – there are many possible scenarios and many unknowns – but we are taking steps to weather the storm and emerge stronger. We are adjusting to the reality on the ground within each respective business, and bringing the cost structure in line with the new levels of business we are seeing. We have a strong focus on cash, with a view to having ample liquidity to cover us for the foreseeable future,” Sultan said.

“Ultimately, we feel that our long-term vision of infrastructure growth in emerging markets, our growing focus on disruptive technologies and digital enablement for logistics, and expansion into new market segments like e-commerce, is more important than ever. We would like to thank our employees, customers and shareholders for their support during this difficult period. We are confident that together, we can build back stronger and better,” Sultan said.


About Agility

Agility is a global logistics company with $5.2 billion in annual revenue and 26,000 employees in more than 100 countries. It is one of the world’s top freight forwarding and contract logistics providers, and a leader and investor in technology to enhance supply chain efficiency. Agility is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer fuel logistics, airport services, commercial real estate and facilities management, customs digitization, and remote infrastructure services.

For more information about Agility, visit

Agility will hold its First Half Earnings Webcast on Wednesday August 19, 2020 at 2:00 pm (Kuwait), 7:00 am (New York) and 12:00 pm (London).

Please connect to the following web session at least 10 minutes before the beginning of the event:




Access Code: 164094

Webcast Connection details:
Please note that a presentation will be displayed on the PC.
To view the presentation, please click the above link and join the web meeting.
Participants joining by webcast will be able to send questions via a chat box within the webcast player.

In the case you would like to submit your questions ahead of the scheduled webcast, please contact [email protected]



Investor Relations Department
Agility Public Warehousing Compan

Please click here to see stock exchange filing.

Please click here to see stock exchange filing