Allcargo Logistics Limited — Important, 23-01-2025: General Updates

Ecuhold N.V., a wholly-owned subsidiary of Allcargo Logistics Limited, has acquired an additional 23.50% stake in Ecu-Line Abu Dhabi LLC, bringing its total ownership to 99%. The acquisition was completed for AED 500,000. This move enhances the group's control over Ecu-Line, aligning with its strategy to maximize profits from this NVOCC entity. Ecu-Line reported a turnover of USD 4,486,118 as of December 31, 2024, showcasing significant growth, with the prior two years' revenues recorded at USD 2,623,978 in 2023 and USD 1,885,938 in 2022. This strategic acquisition is expected to bolster Allcargo's operational capacity in the logistics sector, presenting a positive outlook for the company's future financial performance.