UAE Equity Research - Agility Global PLC 4Q25 - First Look Note
Net operating cash flow declined 35.7% YOY to USD 403 Mn in 2025, while capex and investments increased to USD 490 Mn, primarily driven by G2 acquisition and ALP expansion. ALP delivered 226k sqm of warehousing capacity, with exit run-rate reaching USD 86 Mn by the end of 2026.