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21/02/2018 - 18:52hs

Agility profit up 16% in 2017

Net income reached USD 228 million for the Kuwaiti logistics company, which operates in Brazil.

Kuwait City – Agility, the Kuwait-based logistics company, said this Wednesday (21) that it posted a net profit of KWD 68.5 million (USD 228 million) in 2017, up 16% from 2016. Revenue reached KWD 1.407 billion (USD 4.684 billion), with EBITDA at KWD 135.2 million (USD 450 million). The information is from Kuwait News Agency (KUNA).

“The company continues to grow in emerging markets logistics parks, fuel logistics, airport services, and commercial real estate development,” KUNA quoted CEO Tarek Sultan as saying. He also said that Agility’s core commercial logistics business kept growing in 2017, despite margin pressure.

The company’s target is seeing USD 800 million in EBITDA by 2020. It boasts a staff of over 22,000 in 100 different countries, Brazil included.

*Translated by Gabriel Pomerancblum

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