DSV Panalpina is set to become the world's third largest transport and logistics company as it announced the acquisition of Agility's Global Integrated Logistics (GIL). The transaction, valued at US$4.2 billion (DKK 26 billion), is the latest acquisition of the Danish company after it bought out Swiss-based Panalpina 2 years ago. DSV recently completed the integration with Swiss Panalpina, and with the acquisition of GIL, the company is set to become the world’s third largest with a combined … [Read more...] about DSV Panalpina acquires Agility’s GIL unit for US$4.2 billion
Agility Global Integrated Logistics
Air freight, contract logistics drive 2020 revenue for Agility
Global logistics provider Agility on Monday reported net profit of US$138 million (KD 41.6 million) for 2020, down 52.1 percent from 2019. In its 2020 financial report, the company recognised the performance of its integrated logistics (GIL) unit, which took much of the slack as other business units saw dismal results. Full-year net revenue for GIL inched up 3.8 percent versus 2019 to US$940 million (KD283.7 million), primarily driven by air freight and contract logistics which saw revenue … [Read more...] about Air freight, contract logistics drive 2020 revenue for Agility
Agility posts solid 3Q results despite revenue decline
Agility has announced its financial results for the third quarter of 2016, reporting a net profit of KD15.17 million (US$50 million), an increase of 11 per cent compared to the third quarter of 2015, despite revenues being down 7.0 per cent over the same period to KD312 million. EBITDA stood at KD28.90 million, a 19 per cent increase compared to the same period in 2015. Tarek Sultan, CEO of Agility, said: “We have now been seeing continuous underlying increase in the profitability of the … [Read more...] about Agility posts solid 3Q results despite revenue decline
“Mixed bag” growth for Agility
Agility announced its financial results for the second quarter of 2015, reporting a net profit of KWD13.5 million (US$44.6 million), an increase of five per cent compared to the second quarter of 2014. EBITDA stands at KWD 25.5 million, a one per cent increase compared to Q2 of 2014. “The global logistics market is a mixed bag in terms of growth, with continued sluggishness in China and Europe; and ongoing pressure on rates,” said Tarek Sultan, Agility’s CEO. "In this environment, we are … [Read more...] about “Mixed bag” growth for Agility
