Agility holds AGM and EGM for year 2015
KUWAIT CITY, May 26: Agility held its Ordinary and Extra Ordinary General Assembly Meeting for the year ending 31st December 2015 with a quorum of 78.48%. The assembly approved all the agenda items including the distribution of 30% cash dividend (30 fils per share) and elected a new board for the coming three years.
The new board members are: Public Institution for Social Security Tarek Abdulaziz Sultan Al Essa Jamil Sultan Al Essa Ayman Sultan Al Essa Henadi Anwar Essa Al Saleh Naser Mohammad Al Rashid National Real Estate Company Faisal Jamil Al Sultan (as a reserve member)
Speaking to shareholders Tarek Sultan, Vice Chairman and CEO of Agility said “Agility made good progress in 2015 but still has a demanding road ahead to make it the leading company we all desire. In 2015, we were able to generate KD 105
Agility Vice-Chairman & CEO, Tarek Sultan (2nd left), with other officials during the assembly.
million cash from operations, a 68% improvement from last year. We improved our free cash flow by KD 6 million to reach KD 31 million in 2015, despite challenging economic times. Our longerterm target is to reach an EBITDA of USD 800 million by 2020. Our efforts to define a clearer strategy and improve execution are paying off in stronger customer relationships, an expanding emerging market footprint, a sharper focus, and a more disciplined management approach.”
For the year ending 31st December, 2015, Agility reported a net profit of KD 53 million, or 46.41 fils per share, an increase of 5% over the same period in 2014. Revenue for the year stood at KD 1.3 billion. EBITDA stood at KD 100 million.