ALBAWABA - Supply chain services company Agility reported a net profit of $221 million in the fiscal year 2022, a 181-percent jump from the year 2020.
The company said in a statement that the profits excluded results from its Global Integrated Logistics unit.
The company's revenue increased 77.6 percent to $2.8 billion, and ebitda rose 65.7 percent to $605 million.
The results include performance from Menzies Aviation and HG Storage International, both acquired by Agility in 2022.
On a like-for-like basis, excluding these acquisitions, the revenue grew 21.2 percent and ebitda rose 44.1 percent. Agility has increased its credit facilities to finance its business growth and operating cash flow was $341 million for the full year in 2022.
The company has a healthy balance sheet with $11.3 billion in assets and net debt of $2.8 billion.
Company Vice Chairman Tarek Sultan said that the company is now geographically, operationally, and financially diversified and is constantly evolving, growing, and driving value for its stakeholders.
