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Agility Q3 net profit zooms to $37 million

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el = document.getElementsByTagName("script")[0]; s.async = true; s.src = (document.location.protocol == "https:" ? 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googletag.enableServices(); }); </script> <style> div#iz-news-hub-icon-container { top: 40px; } .read-this-also-wrap{ border-top: 1px solid #dddddd; border-bottom: 1px solid #dddddd; } .details-content-story div.inside-post-ad-before, .inside-post-ad-before .read-this-also-wrap{margin-bttom:0px !important;} a.editor-inserted-link{ background-color: white !important; } .main-nav.top-bar-menu .main_nav_cover{ display: none; } div#top_left_3 .s-amp-block-heading:before{ display: none; } div#top_left_3 h2.s-amp-block-heading { text-align: justify; font-size: 2rem; font-weight: 700; padding: 16px 15px; margin-bottom: unset; } div#top_left_3 .s-amp-grid-box.slider-style { padding-bottom: 5px; } div#top_left_3 .s-amp-content-block { background: #eee; border-radius: 10px; } #top_left_3 .s-amp-grid-box.slider-style{ grid-template-columns: repeat(5,20%); } .details-content-story table::-webkit-scrollbar { display: none; } @media screen and (max-width: 767px) { .short-story-section-wrap .scroll-on-mobile { grid-template-columns: repeat(3,90%) !important; } #top_left_3 .s-amp-grid-box.slider-style{ grid-template-columns: repeat(5,50%) !important; } } #mob{ display:none; } #top_level_1 { display : none !important; } @media screen and (max-width: 767px){ .section_before_trneding { height: 150px; } .coppyright{ font-size: 11px; } .mob-logo { width: calc(100% - 120px) !important; } } .footer-logo{ text-align:center!important; } @media screen and (max-width: 500px){ #mob{ display:block; } #top_level_1 { min-height:120px !important; display : block !important; } #desk{ display:none; } .coppyright{ font-size: 11px; } } @media screen and (max-width: 340px){ .mob-logo { width: calc(100% - 90px) !important; } .coppyright{ font-size: 11px; } } @media screen and (max-width: 420px) { .mob-logo { width: calc(100% - 90px) !important; } .coppyright{ font-size: 11px; } } #top_right_2{ width: 300px; margin: auto; } #top_right_3{ width: 300px; margin: auto; } #top_right_4{ width: 300px; margin: auto; } #top_right_5{ width: 300px; margin: auto; } .main_nav_cover #main-menu li { padding: 0 8px !important; } .col-12.col-md-12.header .logo a .is-logo-img { margin-top: 10px !important; } @media screen and (min-width: 1290px){ .image-breadcrum-wrap .single-image img { width: 100%; } } .list-inline-item svg:hover, .list-inline-item svg:hover .twx1 { fill: rgb(185, 30, 34) !important; } </style> <script> window._izq = window._izq || []; window._izq.push(["init" ]); </script> <style> .s-amp-grid-box.slider-style .s-amp-card h2.s-amp-h3 a { text-overflow: ellipsis; -webkit-line-clamp: 2; -webkit-box-orient: vertical; overflow: hidden; display: -webkit-box; } </style><link rel="stylesheet" type="text/css" href="/styles/themespendinline.min.d4ddb2c7.css"><style>@font-face { font-family: 'Narziss'; src: url('/fonts/NarzissProCyrillic.woff'); } @font-face { font-family: 'Serifa'; src: url('/fonts/SerifaBT.ttf'); } html, body.wrapper, div, p, a, h1, h2, h3, h4, h5, h6, span, .story_content, .story_content p { font-family: 'Serifa'; } .meta_author_avatar { display: none; } .mode-change-wrap { display: block !important; } #footer { background: #ececec; margin-top: 10px; } #footer .widget h3 { border-bottom: 1px solid #000; padding-bottom: 10px; } #footer .widget li { margin-left: 20px; list-style: circle; } #footer .footer-social .sub-btn { padding: 10px 20px; background: #000; color: #fff; position: relative; display: block; margin-top: 20px; text-align: center; font-weight: bold; border-radius: 20px; margin-bottom: 20px; } #footer .list-inline-item a { color: #fff; background: #000; padding: 2px 8px; border-radius: 50%; width: 30px; height: 30px; display: inline-block; } #footer .widget li.list-inline-item { margin-left: 0px; } #footer .list-inline { text-align: center; } .footer-links { border-bottom: 1px solid #ccc; padding-bottom: 10px; } #footer .copy-right { position: absolute; left: 0px; top: 5px; } #footer .powered-by { position: absolute; right: 0px; top: 5px; } .btn-light { color: #0072B0 !important; background-color: #f8f9fa; border-color: #f8f9fa; line-height: 3; font-size: 18px; padding: 1rem 2rem; } .social-txt { position: relative; margin-left: 40px; } #mc_embed_signup form { color: #000; } #covid-page-full-1-2 .mixin-wrapper { margin-top: 0px; } .details-content-story iframe, .details-content-story img { margin-left: auto !important; margin-right: auto !important; } .m-auto.text-center { padding-bottom: 10px; } .m-auto.text-center h2 { font-size: 20px; } .m-auto.text-center p { font-size: 16px; } .single-header { margin: 0 0 10px; padding: 0 0 0px; border: none; } .section_margin.header-type-current-page-article { margin-bottom: 10px; } .pageh1tag.news_listing { text-align: center; } h2.desc-on-article { font-size: 18px; } .hocal_short_desc li::before { display: none; } .donate-in-mobile { display: none; background: #1d70cc; color: #fff; padding: 2px 10px; padding-bottom: 5px; border-radius: 5px; font-weight: bold; margin-left: 4px; } .donate-in-mobile:hover { color: #fefef3; } .top-search.mob-search { max-width: 40px; } .main_nav_cover #main-menu li { padding: 0 10px; } @media screen and (max-width: 1200px) { .mob-logo { width: 75%; } .donate-in-mobile { display: inline; } } p.full_image_content { min-height: auto !important; } @media screen and (max-width: 767px) { .mob-logo { width: calc(100% - 190px); } } @media screen and (max-width: 420px) { .mob-logo { width: calc(100% - 170px); } } @media screen and (max-width: 340px) { .mob-logo { width: calc(100% - 170px); } } @media screen and (min-width: 1200px) { .home-page .sticky .main_nav_cover #main-menu>li { line-height: 70px; padding: 0 7px; } } @media screen and (min-width: 1200px) { .header .logo { float: left; } .sticky-menu-logo { float: left; margin-right: 10px; margin-top: -5px; display: inline-block; } .home-page .sticky-menu-logo { display: none; } .header2 { display: none; } .home-page .header2 { display: block; } .sticky-menu-logo .is-logo-img { max-width: 90px; min-width: 100px; margin-top: 10px; } .header-type-current-page:not(.header-type-current-page-home) .main_nav_cover { height: 60px; } .header-type-current-page:not(.header-type-current-page-home) .main_nav_cover #main-menu>li { line-height: 60px; } .home-page .sticky .sticky-menu-logo { display: inline-block; } .home-page .sticky .main_nav_cover { height: 60px; } .home-page .sticky .main_nav_cover #main-menu>li { line-height: 70px; padding: 0 15px; } .header-type-current-page:not(.header-type-current-page-home) .main_nav_cover #main-menu, .home-page .sticky .main_nav_cover #main-menu { text-align: right; } .home.only-on-sticky { display: none !important; } .multiple-credits { display: none; } } #related_post .latest_style_2 { display: grid; grid-template-columns: repeat(4, 1fr); } #related_post .latest_style_2_item_first { width: 100%; } @media screen and (max-width: 768px) { #related_post .latest_style_2 { display: grid; grid-template-columns: 1fr; } } /* ***************************************CSS for Newsletter Popup*********************************************** */ .newsletter_popup { width: 550px; margin: 60px auto; position: absolute; left: 50%; top: 50%; transform: translate(-50%, -50%); height: auto; background: #fff; z-index: 999999; display: none; } @media screen and (max-width: 580px) { .newsletter_popup { max-width: 95%; } } .title_wrapper { padding: 7px 8px; } .subs-head { margin-bottom: 0px; font-size: 16px; padding: 15px; font-family: "Libre Baskerville", serif; font-weight: 500; font-style: normal; color: #000; text-align: left; } .newsletter_popup .subs-head { font-size: 18px; font-weight: bold; } .close_news { position: absolute; top: -10px; right: -10px; border: none; border-radius: 50%; width: 30px; height: 30px; box-shadow: 0px 3px 5px #ccc; font-family: sans-serif; color: #000; padding: 0; } button.close_news:focus { outline: 29px auto -webkit-focus-ring-color; } button.close_news:hover { background-color: #fff !important; color: #000 !important; } .flex_box { display: flex; } .left_section { width: 100%; } .right_section { width: 100%; } input { width: 100%; line-height: 1.3; padding: 5px; border: 1px solid #ccc; display: block; } .nl_body input[type=text], .nl_body input[type=email] { height: 40px; } .wpforms-submit { font-size: 16px !important; padding: 5px 10px !important; width: 150px !important; background: #f60 !important; color: #fff !important; border: none; border-radius: 3px; text-align: center; } .wpforms-submit:hover { background: #f60 !important; } input#wpforms-239107-field_6_1 { width: 14px; display: inline-block; height: 14px; margin: 0 10px 0 3px; } .wpforms-field { width: 100%; padding: 10px 0; margin: 10px 0; } .choice-1 { list-style-type: none; text-align: left; margin-left: 0; } ul.wpforms-field-required { padding: 0; } .newsletter_popup .nl_foot { float: right; display: block; width: 100%; text-align: right; } .newsletter_popup .body_wrapper { border-bottom: 1px solid #ccc; padding: 7px 8px; overflow-y: auto; overflow-x: hidden; background: #fff; } .newsletter_popup .nl_title { border-top: 1px solid #ccc; border-bottom: 1px solid #ccc; padding: 7px 8px; background: #fff; } .wpforms-field-hp { display: none; } #wpforms-239107-field_6-container { padding: 0; margin: 0; } .wpforms-field-label-inline { font-weight: 400; 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} .also-read-media-wrap{ display: block !important; } .read-this-also-wrap .also-read-media-wrap{ display: block; float: left; margin-right: 15px; } img.also-read-media{ margin-top: -44px; position: relative; width: 101px; height: 69px; } .read-this-also-wrap{ width: 100%; display: inline-block; padding: 10px; margin: 0 0 15px 0; position: relative; } .read-this-also-wrap .read-this-also{ width: fit-content; display: block; padding: 0 5px; color: #000; margin: 0 0 5px 5px; margin-left: 118px; height: 39px; margin-bottom: 0; } a.also-read-media-wrap{ margin: 0 5px 5px; font-size: 16px; line-height: 24px; } .sticky-container .fab { background: #bb2729; } .show-more-button-details-story .btn-mod.btn-color { background: #bb2729; } .container.page_content a:hover{ color: #d23d33; } .tags-section .tags{ border: 1px solid #d23d33; } .details-content-story a { color: #d23d33 !important; }</style><link rel="canonical" href="https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716"></head><body class="wrapper "><a id="top" href="#0" aria-label="share-to" class="cd-top"></a><script>window.scrollTopFn = function(){ window.scrollTo(0,0); } var elem = document.getElementsByClassName("cd-top")[0]; if(elem){ elem.addEventListener('click', scrollTopFn , false); } </script><link itemprop="thumbnailUrl" href="https://www.logupdateafrica.com/h-upload/2024/11/13/75329-agility131.webp?width=500&amp;height=300"><span itemprop="thumbnail" itemscope="" itemtype="https://schema.org/ImageObject"><link itemprop="url" href="https://www.logupdateafrica.com/h-upload/2024/11/13/75329-agility131.webp?width=500&amp;height=300"></span><script type="application/ld+json"> { "@context" : "https://schema.org", "@type" : "Article", "name" : "Logistics Update Africa", "author" : {"@type" : "Person","name" : "Our Correspondent","url" : "https://www.logupdateafrica.com/our-correspondent","jobTitle" : "internal","image" : "/images/authorplaceholder.jpg?type=1&v=2","sameAs" : []}, "datePublished" : "2024-11-13T13:30:09+05:30", "dateModified" : "2024-11-13T13:30:09+05:30", "keywords" : "Agility Global, Q32024 results, Tarek Sultan, Menzies, DSV", "interactivityType":"mixed","alternativeHeadline":"Agility Q3 net profit zooms to $37 million", "inLanguage" : "en", "headline" : "Agility Q3 net profit zooms to $37 million", "copyrightHolder" : "Africa Aviation News", "contentLocation" : "", "image" : { "@context" : "https://schema.org", "@type" : "ImageObject", "contentUrl" : "https://www.logupdateafrica.com/h-upload/2024/11/13/75329-agility131.webp", "height": 900, "width" : 1500, "url" : "https://www.logupdateafrica.com/h-upload/2024/11/13/75329-agility131.webp" }, "articleSection" : "Logistics", "articleBody" : "Agility Global, a multi-business owner and operator and long-term investor in global and regional businesses, reported a net profit of $37.1 million for the third quarter of 2024 compared to $0.8 million in Q32023. Revenue increased 16 percent to $1.2 billion from $1.06 billion last year, says an official release. For the first nine months of 2024, net profit was $97.4 million and revenue increased 13 percent to $3.3 billion. Tarek Sultan, Chairman, Agility Global.“Agility Global maintains the healthy growth momentum seen since the beginning of the year,\" says Tarek Sultan, Chairman, Agility Global. \"Our controlled businesses delivered double-digit EBIT growth. That growth was driven by the main three businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia, Tristar has grown in fuel business and its road and transport segment, and ALP grew in Saudi Arabia; and is further expanding in the Kingdom. \"On the investment side, the share price of DSV, the company’s largest investment, has been positively impacted by DSV’s acquisition of Schenker. When the deal closes, expected in 2025, DSV will become the world’s largest freight forwarder. Today, Agility is the largest investor in DSV. The increase in DSV’s share price has resulted in an increase in the carrying value of our investment. Due to the accounting treatment, this increase will be reflected through equity and not through profit-and-loss statement.” Aviation services: MenziesMenzies reported revenues of $704 million, an increase of 24 percent compared to the same period last year, driven by new operations including licence wins in Spain, acquisitions in Portugal, new operations in Belgrade, and a new warehouse in Bengaluru, the release added. \"EBIT stood at $60 million – an increase of 55 percent over the same period a year prior and EBIT margin improved from approximately to 8.5 percent as a result of efficiencies, synergies, and operational leverage. YTD EBIT increased 41 percent to $145.3 million.\"Industrial real estate: Agility Logistics ParksAgility Logistics Parks (ALP) reported revenue of $13.2 million and EBIT of $9.6 million, increases of 12 percent and 20 percent, respectively. \"ALP’s growth was driven mainly by its Saudi Arabia operations. Recently, ALP announced a development of an additional 100k sq.m. of warehousing space in Riyadh, part of which will be operational during the first quarter of 2025.\"InvestmentsAgility Global holds non-controlling minority stakes in a number of businesses, both listed and non-listed, the release added. \"As of September 30, 2024, the carrying value of those stakes was roughly $5.1 billion, an increase of around $485 million from December 31, 2023. The main investments in this segment are in DSV and Reem Mall.\"DSV is a Copenhagen-based logistics company and is expected to become the world’s number one freight forwarder when it completes its acquisition of DB Schenker. Agility Global owns a total of 19.3 million shares today, equivalent to more than eight percent of DSV’s capital, making it one of the Denmark-based company’s largest shareholders. DSV’s share price was boosted by the announcement that DSV will acquire Schenker. The upward movement in DSV’s share price increased the carrying value of this investment, which was $4 billion as of September 2024.\"First published on stattimes", "description" : "\"Upward movement in DSV’s share price increased the carrying value, which was $4 billion as of September 2024.\" ", "url" : "https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716", "publisher" : { "@type" : "Organization", "name" : "Logistics Update Africa", "url" : "https://www.logupdateafrica.com", "sameAs" : [], "logo" : { "@context" : "https://schema.org", "@type" : "ImageObject", "contentUrl" : "https://www.logupdateafrica.com/images/logo.png", "height": "60", "width" : "600", "name" : "Logistics Update Africa - Logo", "url" : "https://www.logupdateafrica.com/images/logo.png" } }, "mainEntityOfPage": { "@type": "WebPage", "@id": "https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716" } }</script><script type="application/ld+json"> { "@context" : "https://schema.org", "@type" : "NewsArticle", "name" : "Logistics Update Africa", "author" : {"@type" : "Person","name" : "Our Correspondent","url" : "https://www.logupdateafrica.com/our-correspondent","jobTitle" : "internal","image" : "/images/authorplaceholder.jpg?type=1&v=2","sameAs" : []}, "datePublished" : "2024-11-13T13:30:09+05:30", "dateModified" : "2024-11-13T13:30:09+05:30", "keywords" : "Agility Global, Q32024 results, Tarek Sultan, Menzies, DSV","interactivityType":"mixed","alternativeHeadline":"Agility Q3 net profit zooms to $37 million", "inLanguage" : "en", "headline" : "Agility Q3 net profit zooms to $37 million", "copyrightHolder" : "Africa Aviation News", "contentLocation" : "", "image" : { "@context" : "https://schema.org", "@type" : "ImageObject", "contentUrl" : "https://www.logupdateafrica.com/h-upload/2024/11/13/75329-agility131.webp", "height": 900, "width" : 1500, "url" : "https://www.logupdateafrica.com/h-upload/2024/11/13/75329-agility131.webp" }, "articleSection" : "Logistics", "articleBody" : "Agility Global, a multi-business owner and operator and long-term investor in global and regional businesses, reported a net profit of $37.1 million for the third quarter of 2024 compared to $0.8 million in Q32023. Revenue increased 16 percent to $1.2 billion from $1.06 billion last year, says an official release. For the first nine months of 2024, net profit was $97.4 million and revenue increased 13 percent to $3.3 billion. Tarek Sultan, Chairman, Agility Global.“Agility Global maintains the healthy growth momentum seen since the beginning of the year,\" says Tarek Sultan, Chairman, Agility Global. \"Our controlled businesses delivered double-digit EBIT growth. That growth was driven by the main three businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia, Tristar has grown in fuel business and its road and transport segment, and ALP grew in Saudi Arabia; and is further expanding in the Kingdom. \"On the investment side, the share price of DSV, the company’s largest investment, has been positively impacted by DSV’s acquisition of Schenker. When the deal closes, expected in 2025, DSV will become the world’s largest freight forwarder. Today, Agility is the largest investor in DSV. The increase in DSV’s share price has resulted in an increase in the carrying value of our investment. Due to the accounting treatment, this increase will be reflected through equity and not through profit-and-loss statement.” Aviation services: MenziesMenzies reported revenues of $704 million, an increase of 24 percent compared to the same period last year, driven by new operations including licence wins in Spain, acquisitions in Portugal, new operations in Belgrade, and a new warehouse in Bengaluru, the release added. \"EBIT stood at $60 million – an increase of 55 percent over the same period a year prior and EBIT margin improved from approximately to 8.5 percent as a result of efficiencies, synergies, and operational leverage. YTD EBIT increased 41 percent to $145.3 million.\"Industrial real estate: Agility Logistics ParksAgility Logistics Parks (ALP) reported revenue of $13.2 million and EBIT of $9.6 million, increases of 12 percent and 20 percent, respectively. \"ALP’s growth was driven mainly by its Saudi Arabia operations. Recently, ALP announced a development of an additional 100k sq.m. of warehousing space in Riyadh, part of which will be operational during the first quarter of 2025.\"InvestmentsAgility Global holds non-controlling minority stakes in a number of businesses, both listed and non-listed, the release added. \"As of September 30, 2024, the carrying value of those stakes was roughly $5.1 billion, an increase of around $485 million from December 31, 2023. The main investments in this segment are in DSV and Reem Mall.\"DSV is a Copenhagen-based logistics company and is expected to become the world’s number one freight forwarder when it completes its acquisition of DB Schenker. Agility Global owns a total of 19.3 million shares today, equivalent to more than eight percent of DSV’s capital, making it one of the Denmark-based company’s largest shareholders. DSV’s share price was boosted by the announcement that DSV will acquire Schenker. The upward movement in DSV’s share price increased the carrying value of this investment, which was $4 billion as of September 2024.\"First published on stattimes", "description" : "\"Upward movement in DSV’s share price increased the carrying value, which was $4 billion as of September 2024.\" ", "url" : "https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716", "publisher" : { "@type" : "Organization", "name" : "Logistics Update Africa", "url" : "https://www.logupdateafrica.com", "sameAs" : [], "logo" : { "@context" : "https://schema.org", "@type" : "ImageObject", "contentUrl" : "https://www.logupdateafrica.com/images/logo.png", "height": "60", "width" : "600", "name" : "Logistics Update Africa - Logo", "url" : "https://www.logupdateafrica.com/images/logo.png" } }, "mainEntityOfPage": { "@type": "WebPage", "@id": "https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716" } }</script><script type="application/ld+json"> { "@context" : "https://schema.org", "@type" : "Organization", "url" : "https://www.logupdateafrica.com", "name" : "Logistics Update Africa", "sameAs" : [], "logo" : { "@context" : "https://schema.org", "@type" : "ImageObject", "contentUrl" : "https://www.logupdateafrica.com/images/logo.png", "height": "60", "width" : "600", "name" : "Logistics Update Africa - Logo", "url" : "https://www.logupdateafrica.com/images/logo.png" } }</script><script type="application/ld+json"> { "@context" : "https://schema.org", "@type" : "WebSite", "name" : "Logistics Update Africa", "url" : "https://www.logupdateafrica.com", "author" : { "@type" : "Person", "name" : "Logistics Update Africa" } }</script><script type="application/ld+json"> { "@context" : "https://schema.org", "@type" : "BreadcrumbList", "name" : "Logistics Update Africa - BreadcrumbList", "itemListElement": [{ "@type":"ListItem","position":"1","item":{ "@id":"https://www.logupdateafrica.com","@type":"Thing","name":"Home"}},{"@type":"ListItem","position":"2","item":{"@id":"https://www.logupdateafrica.com/logistics","@type":"WebPage","name":"Logistics"}},{"@type":"ListItem","position":"3","item":{"@id":"https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716","@type":"WebPage","name":"Agility Q3 net profit zooms to $37 million"}}] }</script><script type="application/ld+json"> { "@context" : "https://schema.org", "@type" : "ItemList", "name" : "Logistics Update Africa - ItemList", "itemListElement": [{"@type":"ListItem","position":"1","name":"Latest News","description":"Stay up-to-date with the latest logistics news, updates, insights, and trends from Africa. 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rahul"><div class="row"><div class="col-sm-12"><div class="single-header"><h1 class="alith_post_title">Agility Q3 net profit zooms to $37 million</h1><h2 class="alith_post_except animate-box animated-fast desc-on-article">"Upward movement in DSV’s share price increased the carrying value, which was $4 billion as of September 2024."</h2><div data-newsid="1353716" data-url="/logistics/agility-q3-net-profit-zooms-to-37-million-1353716" role="button" style="text-align:center" class="bookmark-btn bookmark-news-item"><svg xmlns="http://www.w3.org/2000/svg" width="18" height="18" fill="currentColor" viewBox="0 0 16 16" style="z-index:-1" class="bi bi-bookmark"><path d="M2 2a2 2 0 0 1 2-2h8a2 2 0 0 1 2 2v13.5a.5.5 0 0 1-.777.416L8 13.101l-5.223 2.815A.5.5 0 0 1 2 15.5V2zm2-1a1 1 0 0 0-1 1v12.566l4.723-2.482a.5.5 0 0 1 .554 0L13 14.566V2a1 1 0 0 0-1-1H4z"></path></svg></div><div class="post_meta author-wrapp-box"><div class="article-details-first internal-top-wrap"><div class="internal-credits-block"><section class="author-box-ispend news-by-author-1353716-1"><span class="internal-credit-label">By</span><a href="/our-correspondent" target="_blank"><span class="meta_author_avatar"><img src="/images/authorplaceholder.jpg" data-src="/images/authorplaceholder.jpg?type=1&amp;v=2" alt="Our Correspondent" title="Our Correspondent" class="author-image avatar photo avatar-default b-loaded"></span><span class="internal-credit-name">Our Correspondent</span><div class="author-popup-box"><div class="popup_box"><div class="author_box"><div id="news_by_author_1353716-1"><span class="center loading-author-news">Loading...</span></div></div></div></div></a></section><span class="auth-time-divider">|</span><span><span class="meta_date"><span data-datestring="2024-11-13 08:00:09" class="convert-to-localtime">13 Nov 2024 8:00 AM GMT</span></span></span></div></div></div><!--image--></div></div></div></div></div></div><div id="left_level_1" class=" hide"></div><div 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data-title="Agility Q3 net profit zooms to $37 million" data-url="https://www.logupdateafrica.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353716" title="Share by Email" class="social-click js-share-article-by-email-direct"><i class="fa fa-envelope"></i><span class="social-txt">Email</span></span></li><li class="print"><span data-closest-selector="#post-content-wrapper" data-selector="" title="Print" class="social-click js-print-current-story print-story"><i class="fa fa-print"></i><span class="social-txt">Print</span></span></li></ul></div></div><div class="details-story-wrapper-main closed"><div class="dropcap column-2 animate-box new-column-1 animated-fast"><div class="story_content details-content-story details-content-story-1353716"><p>Agility Global, a multi-business owner and operator and long-term investor in global and regional businesses, reported a net profit of $37.1 million for the third quarter of 2024 compared to $0.8 million in Q32023. </p><p>Revenue increased 16 percent to $1.2 billion from $1.06 billion last year, says an official release. </p><p>For the first nine months of 2024, net profit was $97.4 million and revenue increased 13 percent to $3.3 billion.</p><div contenteditable="false" data-width="539" style="width:539px;" class="image-and-caption-wrapper clearfix hocalwire-draggable float-right" has-title="true"><h-img src="https://www.logupdateafrica.com/h-upload/2024/11/13/75331-tarek13.webp" draggable="true" class="hocalwire-draggable float-right" data-float-none="true" data-uid="76880B59rML1CFegISELqH7HCMTW1FOoDu2I81806335" data-watermark="false" style="width: 100%; float: right;" info-selector="#info_item_1731481764507" title="Tarek Sultan, Chairman, Agility Global." alt="Tarek Sultan, Chairman, Agility Global." data-compression="false"></h-img> <div class="inside_editor_caption image_caption hocalwire-draggable float-right edited-info" id="info_item_1731481764507"><p>Tarek Sultan, Chairman, Agility Global.</p></div></div><p>“Agility Global maintains the healthy growth momentum seen since the beginning of the year," says Tarek Sultan, Chairman, Agility Global. "Our controlled businesses delivered double-digit EBIT growth. That growth was driven by the main three businesses: Menzies, Tristar and Agility Logistics Parks (ALP). Menzies saw growth in new operations in Europe and Asia, Tristar has grown in fuel business and its road and transport segment, and ALP grew in Saudi Arabia; and is further expanding in the Kingdom. </p><div class='hide inside-post-ad-before-before' id='inside_post_content_ad_1_before_before'></div><div class='hide inside-post-ad-before' id='inside_post_content_ad_1_before'></div><div class='hide inside-post-ad-1 inside-post-ad ads_common_inside_post' id='inside_post_content_ad_1'></div><div class='hide inside-post-ad-after' id='inside_post_content_ad_1_after'></div><p>"On the investment side, the share price of DSV, the company’s largest investment, has been positively impacted by DSV’s acquisition of Schenker. When the deal closes, expected in 2025, DSV will become the world’s largest freight forwarder. Today, Agility is the largest investor in DSV. The increase in DSV’s share price has resulted in an increase in the carrying value of our investment. Due to the accounting treatment, this increase will be reflected through equity and not through profit-and-loss statement.” </p><p><b>Aviation services: Menzies<br></b>Menzies reported revenues of $704 million, an increase of 24 percent compared to the same period last year, driven by new operations including licence wins in Spain, acquisitions in Portugal, new operations in Belgrade, and a new warehouse in Bengaluru, the release added. "EBIT stood at $60 million – an increase of 55 percent over the same period a year prior and EBIT margin improved from approximately to 8.5 percent as a result of efficiencies, synergies, and operational leverage. YTD EBIT increased 41 percent to $145.3 million."</p><div class='hide inside-post-ad-before-before' id='inside_post_content_ad_2_before_before'></div><div class='hide inside-post-ad-before' id='inside_post_content_ad_2_before'></div><div class='hide inside-post-ad-2 inside-post-ad ads_common_inside_post' id='inside_post_content_ad_2'></div><div class='hide inside-post-ad-after' id='inside_post_content_ad_2_after'></div><p><b>Industrial real estate: Agility Logistics Parks<br></b>Agility Logistics Parks (ALP) reported revenue of $13.2 million and EBIT of $9.6 million, increases of 12 percent and 20 percent, respectively. "ALP’s growth was driven mainly by its Saudi Arabia operations. Recently, ALP announced a development of an additional 100k sq.m. of warehousing space in Riyadh, part of which will be operational during the first quarter of 2025."</p><p><b>Investments<br></b>Agility Global holds non-controlling minority stakes in a number of businesses, both listed and non-listed, the release added. "As of September 30, 2024, the carrying value of those stakes was roughly $5.1 billion, an increase of around $485 million from December 31, 2023. The main investments in this segment are in DSV and Reem Mall.</p><p>"DSV is a Copenhagen-based logistics company and is expected to become the world’s number one freight forwarder when it completes its acquisition of DB Schenker. Agility Global owns a total of 19.3 million shares today, equivalent to more than eight percent of DSV’s capital, making it one of the Denmark-based company’s largest shareholders. DSV’s share price was boosted by the announcement that DSV will acquire Schenker. The upward movement in DSV’s share price increased the carrying value of this investment, which was $4 billion as of September 2024."</p><p>First published on <a href="https://www.stattimes.com/logistics/agility-q3-net-profit-zooms-to-37-million-1353718">stattimes</a></p></div><div id="news_buzz_before_1" class=" hide"></div><div id="news_buzz_before_2" class=" hide"></div><div id="news_buzz_before_3" class=" hide"></div><div id="news_buzz_updates" class=" hide"></div></div><div class="wrap-bottom"><div class="post-tags"><div class="alith_tags_all brick"><a href="https://www.logupdateafrica.com/tags/agility-global">Agility Global</a><a href="https://www.logupdateafrica.com/tags/tarek-sultan">Tarek Sultan</a><a href="https://www.logupdateafrica.com/tags/menzies">Menzies</a><a href="https://www.logupdateafrica.com/tags/dsv">DSV</a></div></div><div class="story-local-lang-box-flex"></div><div id="left_level_3_before" class=" to-be-async-loaded-ad left_level_3_before"></div><div 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.also-read-media-wrap{ display: block; float: left; margin-right: 15px; } img.also-read-media{ margin-top: -44px; position: relative; width: 101px; height: 69px; } .read-this-also-wrap{ width: 100%; display: inline-block; padding: 10px; margin: 0 0 15px 0; position: relative; } .read-this-also-wrap .read-this-also{ width: fit-content; display: block; padding: 0 5px; color: #000; margin: 0 0 5px 5px; margin-left: 118px; height: 39px; margin-bottom: 0; } a.also-read-media-wrap{ margin: 0 5px 5px; font-size: 16px; line-height: 24px; } .sticky-container .fab { background: #bb2729; } .show-more-button-details-story .btn-mod.btn-color { background: #bb2729; } .container.page_content a:hover{ color: #d23d33; } .tags-section .tags{ border: 1px solid #d23d33; } .details-content-story a { color: #d23d33 !important; }</style><div id="last-from-body-bottom" class="last-from-body-bottom"></div><div class="exit_popup_window"><div id="exit-popup-wrap" class="exit-window-modal soft-hide boom-pop-cover 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