Kuwait – 16 August 2026 – Makhazen, the new operating brand of Agility Public Warehousing Company KSCP, today announced its financial results for the second quarter and six-month period ended 30 June 2026.
For the second quarter of 2026, Makhazen reported revenues of KD 35.6 million almost flat with Q2 2025, EBITDA of KD 27 million representing a 66.5% YoY growth, and profit attributable to shareholders was KD 18.6 million compared to KD 8.7 million in Q2 2025 representing a 114.2% YoY growth.
For the first half of 2026, Makhazen reported revenues of KD 71.5 million and EBITDA of negative KD 189.3 million reflecting the one-off non-cash charge recognized in the first quarter. The loss from continuing operations attributable to shareholders of KD 206.8 million resulted from these non-recurring items, which relate to fair value adjustments on certain investment properties in the first quarter.
Q2 2026 Performance
During the quarter, Makhazen remained focused on strengthening its operating platform, optimizing its asset base, and advancing projects that support Kuwait's long-term economic and development priorities.
Makhazen's operations delivered a balanced underlying performance for the quarter, led by strong contributions from its trade facilitation and infrastructure business and its investment portfolio, and supported by continued operating discipline across the platform. The company's balance sheet remains healthy.
Business segments
Makhazen's operating entities continued to make steady operational progress despite regional disruptions. As for the investment portfolio which is anchored mainly by the 25% ownership in Agility Global which continues to achieve strong performance across its portfolio companies.
Chairman's Statement
Faisal Jamil Sultan, Chairman of Makhazen:
"The second quarter of 2026 marked a return to reported profitability, with net profit attributable to shareholders of KD 18.6 million and resilient underlying performance across our core businesses. With the strategic balance sheet reset now complete, Makhazen moves forward from a clean and transparent baseline.
Under the Makhazen brand, our focus remains on strengthening the business, optimizing our asset base, and positioning the company for sustainable long-term growth. We maintain financial discipline in executing our strategic priorities. With a healthy balance sheet and a solid operating platform, we are confident in the company's ability to create long-term value for shareholders.