Agility announces growth in Q2 and H1 results

Supply chain services company, Agility, has announced its first half and Q2 2022 earnings, reporting good results amid challenging market conditions.

Agility reported a net profit of €91,562,836, which is a 58.3 per cent increase year-on-year (YOY).

EBITDA also increased by 21.5 per cent from €185,351,157 to €225,727,825, and revenue grew by 22.9 per cent to €859,991,221.

For the second quarter though, Agility reported a net profit of €51,186,168 — 43.7 per cent lower than last year’s €122,719,634 Q2 result.

EBITDA for the quarter was €117,632,810 compared to €122,719,634 YOY.

Adjusted EBITDA for non-recurring items in both quarters showed an increase of 8.6 per cent and revenue grew by 23.4 per cent to €440,010,295.

Agility Vice Chairman, Tarek Sultan, said the company continues to deliver good results despite challenging market and geopolitical conditions.

“Our owned and operated, or controlled businesses reported year-over-year growth, and we expect continued growth and performance in our operations in 2022,” he said.

“Our goal is to grow these businesses further. The Menzies acquisition, which we concluded earlier this month, is a good example of this growth strategy.

“Agility today is a different company than it was two years ago, but what hasn’t changed is that we are looking to accelerate our growth across our portfolio by unlocking value for shareholders, customers, employees, partners, and communities.”

In other news, temperature-controlled logistics company, Lineage Logistics, has expanded its New Zealand operations.