Logistics spotlight: who is Agility?
Founded in 1979, Agility started its journey as a local wareh...
Supply Chain Digital takes a closer look at global logistics and freight company Agility.
Founded in 1979, Agility started its journey as a local warehousing provider in Kuwait. Today, Agility is one of the largest global integrated logistics providers in the Middle East.
Agility has six core freight and logistics (3PL) services that it provides, including:
Air freight cargo services
Sea and ocean freight
Supply chain solutions
System and technologies
Agility, “works hard to keep supply chains green and fair”, the company has reduced its greenhouse gas emissions by 23% since 2011, with 50% of its employees working in sites covered by ISO 14001 for environment management and is ranked among the top 4% of industries for environmental performance by Ecovadis.
Key figures from Agility’s Q3 2019 earnings report:
Revenue - US$1.32bn (1.6% increase over the same period in 2018)
Net profit - US$71mn (8.4% increase over the same period in 2018)
“Our Infrastructure portfolio of companies drove our results in the third quarter, with all major entities seeing growth. Our Global Integrated Logistics (GIL) business, on the other hand, was affected by challenging market conditions that have affected the industry as a whole. However, GIL is moving forward aggressively with its digitisation agenda to improve operational efficiency and drive a better customer experience,” commented Tarek Sultan, Agility Vice Chairman and CEO.
Reflecting on the company's future, Sultan stated that Agility will “continue to invest in technology-driven change and seek to be the digital leaders in our industry. Our Agility Ventures team is partnering with innovative start-ups that are re-shaping the supply chain in areas ranging from green technologies to e-commerce. We are also accelerating in-house development, acquisitions, and partnerships to grow our digital logistics platform, Shipa. We believe this is the key to differentiating Agility and positioning us for future growth.”
Did you know? Agility is also one of the largest private owners and developers of industrial real estate in the Middle East and North Africa.
For more information on all topics for Procurement, Supply Chain & Logistics - please take a look at the latest edition of Supply Chain Digital magazine.
UPS Posts Record Second Quarter with Revenues of $23.4bn
Growth across each of its core segments resulted in record results for UPS in the second quarter, with group revenues climbing 14.5% year on year to $23.4bn.
The global logistics outfit achieved consolidated operating profit of $3.3bn, up 47.3% compared to the same period in 2020. It is the second consecutive quarter of record profit, and a significant rise on Q1’s $2.9bn.
UPS Q2 Revenues in Brief
- Consolidated revenues: $23.4bn (+14.5% yoy)
- Domestic: $14.4bn (+10.2%)
- International: $4.82bn (+30%)
- Supply Chain Solutions: $4.2bn (+14.3%)
The US company’s domestic segment performed steadily with 10.2% revenue growth to $14.4bn. But it was its international and supply chain solutions segments where UPS saw the biggest gains. Strong demand in Europe led an increase in international revenues of 30% to $4.82bn. UPS’ supply chain solutions division saw revenue growth of 14.3% to $4.2bn, driven, the company said, “by strong demand in nearly all businesses”.
UPS’ steady growth throughout the pandemic has been led by the overarching vision of its chief executive Carol Tomé to do “better not bigger”, focussing on efficiency and high margin deliveries through its network over pure scale and volume.
“I want to thank all UPSers for executing our strategy and delivering high service levels, which fuelled record financial results in the second quarter,” she said. “Through our better not bigger framework, we are moving our world forward by delivering what matters.”
UPS Completes Sales of UPS Freight
The second quarter also saw UPS complete the divestiture of UPS Freight in a deal worth $800m - with a surprise result for the division, now called TForce Freight, under new owner TFI International.
“The second quarter was historically significant for TFI International, with the closing of our UPS Freight acquisition and record performance across the board,” said Alain Bédard, chairman, President and Chief Executive Officer, TFI International. “Particularly gratifying is the performance of TForce Freight, which has exceeded our operating ratio targets far ahead of schedule, and we have only just begun our work.”
In it first two months of ownership TFI reported that adjusted operating ratio (OR) was 90.1% for TForce Freight, far outperforming its forecasted OR of 96-97%.
“I wish to thank our entire team for their hard work and remarkable efforts, and officially welcome aboard our new TForce Freight colleagues who have seamlessly come under the TFI umbrella and are already making stronger than expected contributions,” Bédard added.