Q2 Key Financial Highlights:

  • Sustained business momentum – Revenue growth of 8.3% was driven by strong organic performance across the main operating businesses, reflecting stronger demand and operational execution.
  • Healthy profitability growth with stable margins – driven mainly by Menzies and ALP.
  • Strong balance sheet position – The balance sheet remains strong with total assets at $12.7 billion and shareholder equity at $5.8 billion. Almost 46% of the assets belong to the investment segment, whose performance is mainly reported through the balance sheet, not the profit and loss statement.
  • Strategic investment in DSV – DSV continues to be the largest single investment, representing over 36% of the total assets.
  • Net debt (excluding lease liabilities) stood at $3 billion, most of the debt is on the back of DSV funded collar.
  • Operating cash flow for the first half of the year was $223 million, and gross CAPEX and investments totaled $132 million during the period.

ABU DHABI – Agility Global PLC, a multi-business owner, operator and long-term investor, today reported Q2 2025 earnings of $24 million, or 0.24 cents per share. EBIT grew 5% to $97 million, EBITDA increased 8% to $181 million, and revenue rose 8% to $1.2 billion.

For the first six months period, earnings stood at $45 million, or 0.44 cents per share. EBIT grew 1% to $189 million, EBITDA increased 7% to $354 million, and revenue rose 12% to $2.3 billion.

As of June 30, 2025, Agility’s investment segment had a total asset value of approximately $5.5 billion, and total assets value was $12.7 billion.

Agility Global Chairman, Tarek Sultan, said: “The Group delivered another quarter of healthy operational performance, supported by continued organic growth across our core businesses. We see robust growth in Menzies and Agility Logistics Parks. Tristar delivered steady top-line growth and operational ramp-up; however, the lower-margin profile of this growth, compounded by challenges in its Maritime segment, has limited its EBIT expansion. Nevertheless, our operational momentum and underlying business fundamentals remain strong.”

Sultan added: “Our diversified portfolio, spanning critical logistics infrastructure across high growth markets, enables us to navigate global economic headwinds effectively. We continue to execute on our strategy, focusing on disciplined growth and value creation.”

Controlled Segment

For Q2 2025, the consolidated EBIT of the controlled businesses was $96 million; EBITDA was $179 million; and revenue reached $1,200 million. For the six months, EBIT of the controlled businesses was $174 million; EBITDA was $339 million; and revenue $2,343 million.

Aviation Services: Menzies

Menzies Aviation revenue reached $691 million in Q2 2025, representing 9% growth over the same period in 2024. The growth was mainly driven by increased volumes from new operations in Portugal and Spain; ground handling yields improvements; and strong cargo volumes across the regions excluding the impact of the closures of some non-profitable stations. In Q2, Menzies Ground Handling and fueling operations serviced close to 1.5 million flights.

Over the same period, EBITDA and EBIT grew 13% and 24% with all divisions and service lines showing growth. Improved EBITDA and EBIT margins indicate the business's ability to leverage its existing platform for growth. 

In Q2, Menzies expanded its executive lounge presence in Europe, adding a Pearl lounge in Bratislava to the portfolio. 

Regulatory approval for the acquisition of 100% of US-based G2 Secure Staff is expected in Q3.

Fuel Logistics: Tristar

Tristar, a fully integrated fuel logistics business, reported Q2 revenue of $346 million, EBITDA of $64 million and EBIT $33 million. The 17.3% revenue growth over Q2 2024 was mainly driven by the new retail fuel business in Sri Lanka, which began operations in the second half of 2024. Although the retail fuel business is a low margin business today, Tristar is gaining a strong market presence and expects profit margins to improve in 2026 as efficiencies are realized, and the network expands. The maritime segment continued to face market headwinds during the quarter, but management remains confident in the long-term potential of this segment.

Industrial Real Estate: Agility Logistics Parks (ALP)

Agility Logistics Parks recorded Q2 2025 revenue of $14 million, representing a 13% increase from the same period last year. EBIT stood at $10 million.

Strong demand for warehousing in Saudi Arabia continues to drive occupancy rates above 90%, particularly Riyadh. ALP’s ongoing development of 226K SQM of new warehousing space is progressing and on schedule; some units have already been delivered, and the remainder are scheduled for delivery during the remaining months of 2025.

The GCC warehousing sector is experiencing robust demand driven by e-commerce growth, 3PL expansion, and government-led industrial diversification programs. In Africa, ALP continues to evaluate opportunities in high-growth logistics corridors, particularly in East Africa, where demand for modern logistics infrastructure is underserved.

Investment Segment

As of June 30, 2025, Agility Global’s investment segment stood at $5.5 billion in asset value.

The segment’s key assets include stakes in DSV and Reem Mall.

  • DSV, Agility Global’s largest investment holding, delivered solid Q2 2025 performance, underpinned by continued organic operational strength. The DB Schenker integration remains largely on track. While the share price has been volatile over the period, we are managing our equity collar with prudence to protect downside risk and restructure upside potential in line with DSV’s intrinsic performance. Agility Global’s DSV investment value has increased by 12% YTD.
  • Agility Global is an investor in Reem Mall on Abu Dhabi’s Reem Island, Abu Dhabi’s latest signature shopping, dining, and entertainment family destination, spanning around 183.4K sqm of Gross Leasable Area (GLA). Anchored by hypermarkets and notable entertainment and home furnishing concepts, the mall will be home to around 400 international and local brands. One of the prominent recent openings was Sharaf DG, an expansive 3,334 sqm electronics retail space with 34 brand experience zones, making it the largest store of its kind in Abu Dhabi.

As of June 2025, roughly 66% of GLA was open and trading, with an additional 14% under fit-out, for an effective GLA leased of 80%. As of July 2025, we have signed proposals for an additional 4% of GLA. The mall recorded consecutive record-breaking months for footfall and tenant sales in May and June where key metrices have increased by 30% and 40% respectively.

About Agility Global

Agility Global is a multi-business operator and long-term investor in global and regional businesses. Its portfolio of diversified international assets includes the world’s largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); a leading logistics parks developer and operator across the Middle East, Africa, and South Asia (Agility Logistics Parks); and other businesses in digital logistics, e-commerce logistics, remote-site services, and public-sector logistics. It holds minority stakes in DSV, the world’s largest freight forwarder; Reem Mall, a mega-mall in Abu Dhabi; commercial real estate and supply chain companies in the GCC, and emerging technology companies in e-commerce enablement, energy transition, digital supply chain, and more. Agility Global has a global footprint across six continents and 70 countries, with a workforce of 56,000 employees. It is publicly listed on the Abu Dhabi Securities Exchange (ADX).

For more information about Agility Global, visit www.agilityglobal.com