EasyLease revenue surges to $124.1mln in 2024
EasyLease (ADX: EASY LEASE) has announced its audited financial results for FY 2024. The company reported a total revenue of AED456 million, a remarkable 53% year-over-year (YoY) growth, cementing its leadership in the region's fast-evolving mobility sector.
These outstanding results highlight Easy Lease's ability to sustain robust financial performance while pursuing its long-term strategic goals.
Operational profit surged 71% to AED54 million, reflecting enhanced efficiency and adaptability. EBITDA also rose to AED116 million, showcasing a commitment to delivering sustainable value for stakeholders.
Net profit for FY 2024 increased by 18%, underlining the company's resilience and strategic focus on growth. While actively incubating new ventures, Easy Lease remains committed to optimising operational efficiency and profitability. These new investments to create long-term value have laid a solid foundation for sustained growth. Excluding the impact of these strategic initiatives, net profit climbed to AED53 million, compared to AED40 million in FY 2023.
The remarkable growth trajectory of Easy Lease in FY 2024 has been driven by a focused strategy to scale through strategic acquisitions and organic business development. The company acquired United Trans, a leading provider of railway and mobility solutions, and Gallega Global Logistics, an expert in supply chain and warehousing services. These acquisitions, combined with the launch of new ventures in vehicle rentals, and roadside assistance, have significantly expanded Easy Lease's service portfolio and asset base, which now stands at AED788 million.
Ahmad Al Sadah, CEO of Easy Lease, remarked, '2024 has been a transformative year for Easy Lease. These results highlight not only our strong operational foundation but also our vision to redefine mobility and logistics across the region. By leveraging our core strengths and pursuing strategic diversification, we are positioning Easy Lease for sustainable growth and long-term market leadership.'
He further emphasised, 'Through investments in technology, assets, and talent, we are building a resilient business capable of meeting today's demands while shaping the future of mobility and logistics. Our commitment remains focused on delivering long-term value for our shareholders.''
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hi Dubai
21-05-2025
- Hi Dubai
MoIAT Signs AED40 Billion Financing Agreements to Boost Industrial Growth
The UAE has taken a major step in advancing its industrial sector, with the Ministry of Industry and Advanced Technology (MoIAT) signing five Memoranda of Understanding (MoUs) with leading national banks to unlock over AED40 billion in financing solutions. The agreements, witnessed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, aim to fuel industrial expansion, support SMEs, and drive the adoption of advanced technologies in line with the UAE's sustainable development goals. Partner banks include First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. Each has pledged competitive, tailored financing to help businesses scale, innovate, and contribute to the country's strategic 'Make it in the Emirates' initiative. Omar Al Suwaidi, Under-Secretary of MoIAT, emphasized the importance of these partnerships in building a resilient, innovation-led industrial ecosystem. 'These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy,' he said. Executives from all five banks echoed strong support for the initiative. FAB pledged AED5 billion in renewed funding, while WIO Bank committed up to AED1 billion in working capital support. Others highlighted the alignment of the initiative with national priorities, ethical financing, and long-term economic competitiveness. The agreements reflect growing synergy between the public and private sectors, positioning the UAE as a regional leader in advanced manufacturing and industrial innovation. News Source: Emirates News Agency
Arabian Business
25-04-2025
- Arabian Business
EasyLease Q1 revenue jumps 71% to $45.3 million
EasyLease, which provides integrated mobility and logistics solutions in the UAE, reported a 71 per cent increase in revenue for the first quarter of 2025. Sales increased to AED166.3 million (US$45.28 million), compared to AED97.4 million (US$26.5 million) in the same quarter last year. The subsidiary of International Holding Company (IHC) reported a flat, but solid operational performance – operational profit steady at AED16.5 million (US$4.49 million), compared to AED16.4 million (US$4.47 million) in Q1 2024 – which was mainly due to the decision to front-load strategic investments in subsidiary development. EasyLease revenue jumps With more than 30,000 vehicles forming one of the largest fleets in the UAE, the growth underscores EasyLease's continued momentum in expanding its service offerings and deepening its market reach across the region. Net profit after tax amounted to AED10.4 million (US$2.83 million), compared to AED13 million (US$3.54 million) in Q1 2024, which the company attributed to 'proactive investments in strategic growth areas'. These targeted expenditures, aligned with the company's 2025 vision, are laying the foundation for long-term value creation. These proactive expenditures are designed to unlock new revenue streams, strengthen long-term competitiveness, and accelerate the scalability of EasyLease's integrated mobility ecosystem. The company continues to build on its success by accelerating the development of its newly launched subsidiaries, including EasyLease Vehicle Rentals and 'SHEEL' Roadside Assistance, which are central to the company's strategy to evolve into a fully integrated mobility ecosystem. Ahmad Al Sadah, EasyLease CEO, commented: 'Q1 2025 reflects our strategic shift towards long-term, scalable growth through the expansion of our subsidiaries. Our revenue growth and operational stability reaffirm our capacity to deliver value while investing in tomorrow's mobility solutions. 'We are shaping a resilient and future-ready business, backed by solid revenue performance and forward-looking investments. Our subsidiaries are key growth engines, and we remain committed to unlocking their full potential.' In 2025, EasyLease is focused on geographic expansion, customer-centric innovation, and operational excellence. Al Sadah added that EasyLease remains firmly focused on executing its long-term growth strategy, leveraging operational agility, innovation, and strategic partnerships to lead the evolution of mobility and logistics in the region.
Zawya
14-04-2025
- Zawya
Ajman real estate transactions reach $560.8mln in March 2025
Real estate transactions in Ajman reached AED2.06 billion in March 2025, marking a significant increase of over 41 percent compared to the same period in 2024. Omar bin Omair Al Muhairi, Director-General of the Ajman's Department of Land and Real Estate Regulation, said the emirate recorded 1,025 real estate transactions in March, with trading volume totalling AED1.03 billion. He noted that "Al Heliow 1" recorded the highest property sale at AED43 million. Al Muhairi noted that Ajman's real estate market continues to show strong momentum, consistently achieving record figures. He said this reflects the emirate's attractive investment environment, supported by competitive pricing, integrated services, and advanced infrastructure. He added that March also witnessed 156 mortgage transactions amounting to AED299 million. The highest mortgage value, AED40 million, was recorded in the "Al Nuaimiya 3" area.
