SNG: Kuwait: Makhazen reports $479.24mln EBITDA for Q3

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Staff WriterMakhazen (formerly named Agility Public Warehousing Company), a Kuwait-based infrastructure, logistics, and industrial services company, reported KD147 million ($479.24 million) EBITDA from continuing operations for the third quarter (Q3) of this year.This quarter marks the first full reporting period under the company’s new brand name, and following the deconsolidation of Agility Global.Highlights:● Stable operating performance of Kuwait businesses: Makhazen’s core Kuwait-based businesses continued to perform solidly, delivering steady revenue and EBITDA. ● Investments in Kuwait: Makhazen continues to advance its Kuwait-centric investment strategy, targeting more than KD100 million in investments through 2030. During 2025, the company has invested a total of KD22 million to support and grow its operations in Kuwait, across strategic logistics and warehousing infrastructure, metal and waste recycling, customs digitization and operations, and more.Financial Performance (reported figures from continuing operations):For the quarter ending 30 September 2025, Makhazen reported net profit of KD137.7 million. EBITDA stood at KD146.7 million and revenue at KD38.7 million.These numbers include a one-off accounting adjustment of KD138.3 million as a result of the deconsolidation of Agility Global and reporting it as an associate. This one-off non-cash gain partially offset the one-off loss booked in Q2, 2025 arising from the change in accounting treatment of Agility Global. This also resulted in assets decreasing from KD4.2 billion to KD1.1 billion and equity from KD1 billion to KD607.8 million, the company said.For the nine-month period, Makhazen recorded revenue of KD112.6 million, EBITDA of KD179 million and net profit from continuing operations of KD155.7 million.Adjusted figures for continuing operationsExcluding the one-off gain recorded in Q3, underlying profitability remained strong. For the third quarter ending 30 September 2025, Makhazen reported adjusted net profit of KD12.7 million an increase of 207% compared to same period last year and adjusted EBITDA of KD21.7 million an increase of 46%.For the nine-month period, Makhazen achieved adjusted net profit of KD30.7 million and EBITDA of KD53.9 million representing an increase of 82% and 19%, respectively.Advancing Kuwait-focused growthFollowing its rebranding in November, Makhazen reaffirmed ...

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