Agility Global Posts Revenue of $4.5 Billion in 2024
- Business Companies Earnings Regional
Global Business Magazine- 5 minutes read
Agility Global PLC, a multi-business owner and operator and long-term investor, on Wednesday reported a revenue of more than $4.5 billion in 2024, an increase of 14.5% compared with the previous year.
The earnings were $128 million, or 1.25 cents per share and EBIDT grew 21.4% to $404 million, the company said in a regulatory filing with Abu Dhabi Security Exchange (ADX) this morning.
The company said that it has paid $65 million in cash as interim dividends in December 2024 and in line with its guidance, the board of directors have recommended distributing another $65 million as cash dividends for the financial year 2024.
That recommendation will be submitted to the General Assembly for approval and once cleared, this will bring the total cash dividends for 2024 to $130 million.
Agility Global Chairman Tarek Sultan said that the past year was an exciting one for Agility Global as its listing on ADX in May 2024 they have entered a new era of growth.
Agility Global’s 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, he said.
“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,” he added.
Menzies Aviation
The revenue of Menzies Aviation reached $2.6 billion in 2024, representing 20% growth from 2023 and this was mainly driven by increase in volumes as a result of new operations launched during the year.
New operations include an acquisition in Portugal, seven new licenses in Spain, expansion into Serbia, a new cargo facility in Bengaluru, India, and new operations at other locations across the globe. Over the same period, EBITDA grew by 20% with almost all material divisions and service lines showing growth.
In addition to the new operations Menzies also successfully negotiated contract renewals with key customers. It was awarded a new state-of-the-art cargo facility at the Western Sydney Airport, and rolled out new cargo software (MACH) at 20 airports.
Menzies has had a strong start to 2025 with growth in ground handling, cargo and fuelling operations across its 300-airport network in 65 countries.
Tristar
Tristar, a fully integrated fuel logistics business, delivered strong performance during 2024 reporting revenue of $1.2 billion, an increase of 11.8%. EBITDA reached $255 million, and EBIT was $152 million, increases of 16.8% and 29.7%, respectively, over 2023.
The top line growth was mainly driven by the start of new Sri Lanka retail fuel business, where Tristar received a license to operate 150 Shell-branded fuel stations for a 20-year period.
Tristar group has healthy pipeline of growth opportunities, especially in infrastructure capacity building. Those opportunities are predominately related to the Maritime and Fuel storage business.
Agility Logistics Parks
Agility Logistics Parks (ALP), a leading developer of warehouse parks and light industrial facilities, reported revenue of $52 million an increase of 13.2%, EBIT stood at $67 million including the IP revaluation gain of $30 million. Adjusting for the IP revaluation in both periods EBIT showed a 25% increase.
Strong demand for world-class warehousing in fast-growing MENA markets is fuelling the growth of ALP, especially in Saudi Arabia. During 2024, ALP kicked off the construction of the Jeddah logistics park that was previously announced. ALP Saudi Arabia also announced development of more than 100,000 sq. km. of warehousing space in Riyadh.
