Agility Global generates $4.5bln revenue, $128mln earnings in 2024; dividends unveiled
Abu Dhabi – Agility Global, a multi-business owner and operator with a global footprint in more than 70 countries, announced net profits worth $128 million, representing 1.25% per share, registered in 2024.
The revenue increased by 14.50% to $4.50 billion in 2024, while EBIT grew 21.40% to $404 million with 9% margins, according to a press release.
Moreover, the EBITDA rose by 17.40% to $711 million, with 15.8% margins.
Chairman of Agility Global, Tarek Sultan, said: “The past year was an exciting one for Agility Global. With the May 2024 listing of our company on the dynamic, fast-growing Abu Dhabi Securities Exchange, we entered a new era of growth.”
Sultan noted: “Our three largest operating businesses – Menzies Aviation, Tristar Group and Agility Logistics Parks – took important steps to strengthen their market-leading positions by expanding their footprint and acquiring new customers.”
The Chairman concluded: “Our investment segment reported an increase in the carrying value of our portfolio in 2024, driven by the price appreciation of our largest investment, DSV, following announcement of its planned acquisition of DB Schenker making DSV the world’s largest freight forwarder and logistics provider.”
Dividends
In December 2024, Agility Global paid $65 million in cash as interim dividends for 2024.
And in-line with the company’s guidance, the board has now recommended distributing another $65 million as cash dividends for the financial year 2024.
That recommendation will be submitted to the general assembly for approval.
Therefore, this brings the total cash dividends for 2024 to $130 million.
Recap of Agility Global 2024 Financial Performance
Agility Global enjoys a healthy balance sheet with $11.80 billion in assets and $5.60 billion in total equity attributable to the equity holder of the parent company.
Agility Global’s largest investment, which is DSV, represents around 35% of the total assets.
The company’s net debt (excluding lease liabilities) was $2.50 billion; most of the debt is a result of a funded equity collar on the back of some DSV shares.
The operating cash flow was $627 million for 2024. Meanwhile, Agility Global spent $197 million in net CAPEX and investments in 2024.
It is worth noting that in late 2024, Agility Global announced that its subsidiary entered into a credit facility agreement with regional and international banks for a total amount estimated at $1.40 billion.
Source: Mubasher
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