31-01-2025
- Automotive
- Arabian Business
EasyLease announces 53% revenue leap to $124m
EasyLease has announced its audited financial results for FY 2024. The company reported a total revenue of AED456m ($124.2m), a remarkable 53 per cent 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 per cent to AED54m ($14.7m), reflecting enhanced efficiency and adaptability. EBITDA also rose to AED116m ($31.6m), showcasing a commitment to delivering sustainable value for stakeholders.
EasyLease results
Net profit for FY 2024 increased by 18 per cent, 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 AED53m ($14.4m), compared to AED40m ($10.9m) in FY 2023.
The remarkable growth trajectory of EasyLease in FY 2024 has been driven by a focused strategy to scale through strategic acquisitions and organic business development.
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 AED788m ($214.6m).
Ahmad Al Sadah, CEO of EasyLease, said: '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.'
'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.''
