Latest news with #AED16.5
Arabian Business
25-04-2025
- Automotive
- 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
26-03-2025
- Business
- Zawya
Masdar's acquisitions total $8bln in 2024
The Abu Dhabi Future Energy Company Masdar boosted its acquisition operations to one of their highest levels in 2024, with a total value of around 30 billion UAE dirhams ($8 billion), the semi-official UAE daily Alittihad reported on Monday. The Company also managed to raise nearly AED16.5 billion ($4.5 billion) to fund new projects in nine countries, the paper said, citing a Masdar report. Masdar now has operations in 49 countries in six continents and its targeting clean energy projects with a total generation capacity of 100 gigawatts (GW) by 2030, it said. The report said Masdar is also pushing ahead with plans to produce one million tonnes of green hydrogen in 2030 in partnership with a number of foreign firms. (Editing by Anoop Menon) Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Zawya
24-03-2025
- Business
- Zawya
Masdar invests $8.17bln in 2024, launches new projects in 9 countries
ABU DHABI - Abu Dhabi Future Energy Company – Masdar has reinforced its leadership in the global clean energy sector by deploying close to AED30 billion in equity investments and securing more than AED16.5 billion of project financing across nine countries. These accomplishments reflect Masdar's commitment to expanding its renewable energy portfolio while driving the global energy transformation. Since its establishment in 2006, Masdar has been a key enabler of the UAE's vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030. Masdar contributes to accelerating development and supporting the UAE's ambition to become the world's largest developer, owner, and operator of renewable energy and green hydrogen. It also aids countries globally in achieving their climate neutrality plans, while increasing its project portfolio's production capacity to 51GW by the end of 2024. Masdar's growth was advanced by landmark acquisitions in Greece, Spain and the United States, strengthening the company's presence in Europe and North America, as well as breaking ground on seven major projects worldwide. These included two BESS projects in the UK, two solar projects in Azerbaijan with a combined capacity of 760MW, and the 1.5GW Al Ajban Solar Project in the UAE. Additionally, Masdar announced the financial close of six projects, including the 1.1GW Al Henakiyah Solar Power Plant and multi-utility AMAALA sustainable project in the Kingdom of Saudi Arabia, as well as 760MW solar projects Bilasuvar and Neftchala in Azerbaijan. Masdar also signed a Power Purchase Agreement in December 2024 for the 2GW Sadawi project in Saudi Arabia, and inaugurated the 500MW Zarafshan Wind Farm in Uzbekistan, now the largest operation in Central Asia.
Trade Arabia
23-03-2025
- Business
- Trade Arabia
Masdar's 2024 spend hits $8bn; launches projects in 9 countries
Abu Dhabi Future Energy Company (Masdar) has reinforced its leadership in the global clean energy sector by deploying close to AED30 billion in equity investments and securing more than AED16.5 billion of project financing across nine countries. These accomplishments reflect Masdar's commitment to expanding its renewable energy portfolio while driving the global energy transformation. Since its establishment in 2006, Masdar has been a key enabler of the UAE's vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030. Masdar contributes to accelerating development and supporting the UAE's ambition to become the world's largest developer, owner, and operator of renewable energy and green hydrogen. It also aids countries globally in achieving their climate neutrality plans, while increasing its project portfolio's production capacity to 51GW by the end of 2024. Masdar's growth was advanced by landmark acquisitions in Greece, Spain and the United States, strengthening the company's presence in Europe and North America, as well as breaking ground on seven major projects worldwide. These included two BESS projects in the UK, two solar projects in Azerbaijan with a combined capacity of 760MW, and the 1.5GW Al Ajban Solar Project in the UAE. Additionally, Masdar announced the financial close of six projects, including the 1.1GW Al Henakiyah Solar Power Plant and multi-utility Amaala sustainable project in the Kingdom of Saudi Arabia, as well as 760MW solar projects Bilasuvar and Neftchala in Azerbaijan.
ARN News Center
20-02-2025
- Business
- ARN News Center
UAE to contribute $4.5 mn to Ukraine orphan care centres
The Emirates International Aid Agency (Emirates Aid) has signed a cooperation agreement with Ukraine's Olena Zelenska Foundation, to provide additional centres for foster families and orphan care through a financial contribution of $4.5 million (AED16.5 million). This initiative comes within the second phase of the project, as the UAE has previously built a number of fully equipped shelters for Ukrainian foster families, which has contributed to providing a safe and stable environment for children who have lost the care of their parents. The second phase aims to enhance efforts to support foster families and provide adequate housing for children. Minister of State for International Cooperation, Reem bint Ibrahim Al Hashimy, affirmed that the UAE continues its humanitarian commitment towards the most vulnerable groups around the world, noting that this project reflects the spirit of the UAE's solidarity with the friendly Ukrainian people, especially women and children who need special care. 'This support comes within the framework of the UAE's continuous and relentless efforts to mitigate the humanitarian repercussions resulting from the ongoing war in Ukraine. Since the beginning of the crisis, the UAE has sent relief aircraft to Ukraine carrying more than 1,015 tons of medical, food and relief aid, and provided 50 ambulances and more than 4,500 generators to face the challenges of winter. The UAE also supported the education sector by providing 7,500 laptops and 10,000 school bags, and dispatched two relief ships to Romania, bringing the total number of beneficiaries of these efforts to more than 1.2 million people, including one million women and children,' Al Hashimy added.
