Latest news with #EmiratesDrivingCompany
The National
10-05-2025
- Automotive
- The National
Abu Dhabi companies announce deals with Japan on sustainability and smart cities
Abu Dhabi entities announced the signing of deals on Friday that are expected to see private companies from Japan and the UAE develop smart solutions for areas including sustainability and digital integration for smart cities. The focus of the Abu Dhabi-Japan Economic Council, where the deals were signed, placed great attention on non-oil industries and trade. "Non-oil GDP now contributes to over half of the [UAE] economy," Masood Rahma Al Masaood, treasurer of the Abu Dhabi Chamber of Commerce and Industry, said at the event. "Through this forum, we are helping Japan plug into a dynamic and tech forward market." "Both countries have ties since very long back and these ties have strengthened the economy together," added Mansour Al Sayegh, president of the Abu Dhabi Youth Business Council and the group chief executive of UAE conglomerate Al Sayegh Group. "We are looking forward to being part of this delegation, expanding our networks and hopefully, bringing more companies, Japanese companies, major [Japanese companies] into the energy sector, back home to Abu Dhabi," he added. Emirates Driving Company also announced the signing of an agreement with Zenmov Company to promote the deployment of smart mobility IT systems in the UAE and greater Middle East. Khalid bin Aamer Alshemeili, chief executive of Emirates Driving Company, and Sumio Tanaka, president and chief executive of Zenmov, said they will implement joint solutions using Zenmov's Smart Mobility Operations Cloud to optimise resources, vehicle management and unmanned car rentals. Emirates Driving Company will support the market entry of these process to better integrate into the UAE's smart city infrastructure, while Zenmov will provide technical support and training. "We're planning to set up a subsidiary in Abu Dhabi this year, hopefully," said Mr Tanaka. "After we make a subsidiary, we want to make it the centre of our business to the whole of the Middle East and also Europe and Africa." Ne'ma, Abu Dhabi's food and waste loss initiative, signed an initial pact with the Japan International Co-operation Centre to reduce waste in the UAE. The agreement signed by members of the Abu Dhabi-Japan Economic Council on Friday aims to strengthen co-operation between the UAE and Japan to achieve Ne'ma's goal of reducing food loss and waste by 50 per cent by 2030. This falls in line with the UAE's National Food Security Strategy 2051 and the UN Sustainable Development Goal 12.3, according to statements by the Abu Dhabi Department of Economic Development. ADDED chairman Ahmed Al Zaabi and Nobuyori Kodaira, president of the Japan Co-operation Centre for the Middle East, are both co-chairs of ADJEC and attended the signing of the agreement. They were joined by UAE ambassador to Japan Shihab Alfaheem and Japan's State Minister of Economy, Trade and Industry Ogushi Masaki.
Zawya
04-05-2025
- Automotive
- Zawya
Emirates Driving Company announces its financial results for Q1 2025
United Arab Emirates, Abu Dhabi – Emirates Driving Company, listed on the Abu Dhabi Securities Exchange under the ticker symbol (DRIVE), announced robust financial results for the first quarter of 2025, marking a powerful start to the year. The company recorded a net profit of AED 69 million, compared to AED 64 million in Q1 2024, a clear testament to its sustained growth trajectory, strategic execution, and ability to navigate evolving economic conditions with resilience and agility. The company's revenues for Q1 2025 surged to AED 167 million, up from AED 90 million in the same period last year, representing a growth of 85%. This exceptional performance underscores the company's agility in capitalising on market demand and its continued success in delivering high-quality, customer-centric training solutions across its operational ecosystem. Mr. Khaled Al Shemeli, Chief Executive Officer of Emirates Driving Company, said: "Our Q1 2025 performance demonstrates the strength of our strategic vision and the agility of our operations. We continue to prioritise innovation in driver training, expand our service footprint, and invest in technologies that advance road safety across the UAE. These results reinforce our role as a national enabler of sustainable mobility and a trusted partner in shaping the future of transportation." These results reaffirm Emirates Driving Company's sustained capacity for growth, underpinned by a commitment to service excellence and alignment with evolving market dynamics. The company's strong financial performance is a direct outcome of its forward-looking strategy, disciplined execution, and long-term focus on operational resilience and financial sustainability. Dr. Ahmed Odeh, Chief Financial Officer of Emirates Driving Company, said: "Our solid financial performance in the first quarter reflects disciplined execution and sustained demand for our high-quality services. We remain focused on optimising our cost structures, enhancing operational efficiencies, and delivering long-term value to our shareholders while supporting national priorities in road safety and education." Beyond its commercial success, Emirates Driving Company plays a central role in advancing national road safety outcomes. It delivers comprehensive training programmes that integrate advanced technologies and innovative methodologies, while prioritising community awareness through targeted workshops that address all facets of safe driving. Through continuous enhancement of its curriculum in accordance with international standards, the company is well-positioned to meet the diverse needs of learners and contribute meaningfully to societal progress. This sustained focus on safety, education, and innovation reinforces Emirates Driving Company's role as a key enabler of the UAE's strategic vision to build a safer, smarter and more sustainable mobility ecosystem. About Emirates Driving Company Founded in 2000, Emirates Driving Company is the leading driving education provider in Abu Dhabi and a trusted government partner in delivering pre-licensing education programs. The company is committed to employing advanced training methodologies and digital innovations to ensure the delivery of high-quality educational experiences that align with road safety standards. For more information, please visit
Zawya
29-04-2025
- Automotive
- Zawya
Emirates Driving's net profits rise 8% in Q1-25
Abu Dhabi – Emirates Driving Company generated AED 68.80 million in net profit after tax during the first quarter (Q1) of 2025, an annual rise of 8% from AED 63.97 million. Revenues hiked by 85% to AED 167.10 million in Q1-25 from AED 90.14 million in Q1-24, according to the consolidated financial results. The earnings per share (EPS) remained unchanged at AED 0.06 as of 31 March 2025. In the 12-month period that ended on 31 December 2024, the company's net profits after tax jumped by 6% YoY to AED 282.36 million from AED 267.14 million. Source: Mubasher All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. ( Mubasher
Al Etihad
28-04-2025
- Automotive
- Al Etihad
Emirates Driving Company reports strong revenue growth in Q1 2025
REDDY (ABU DHABI) Emirates Driving Company (EDC), the leading provider of driver education in the emirate of Abu Dhabi, posted strong financial results for the first quarter of 2025, with significant growth across key metrics compared to the same period last year. According to the documents submitted to the Abu Dhabi Securities Exchange on Monday, revenue for the quarter surged by 85% year-on-year (YoY), reaching Dh167.1 million compared to Dh90.1 million in Q1 2024. The impressive increase was driven by the acquisition of a new subsidiary, geographic expansion, a higher number of enrolled students, and operational efficiency improvements. Gross profit also rose substantially, up 48% YoY to Dh105.8 million from Dh71.3 million in Q1 2024. However, the gross profit margin decreased to 63% from 79%, reflecting higher direct expenses associated with expanded operations. Profit before tax grew by 14%, reaching Dh79.7 million, compared to Dh70.2 million a year earlier. Net profit for the period stood at Dh68.8 million, an 8% increase from Dh64 million reported in Q1 2024. The company also benefited from additional income streams, including net gains from financial assets, dividend income, rental income, and interest income. Despite the strong earnings growth, the company's market capitalisation recorded a slight decline, standing at Dh2.694 billion as of March 31, 2025, down from Dh3.017 billion at the end of 2024. Nonetheless, EDC's market capitalisation has seen a robust 42% growth over the past five years, reflecting continued investor confidence. Total assets decreased by 8% to Dh1.54 billion in Q1 2025, compared to Dh1.67 billion at year-end 2024, mainly due to dividend payouts totalling Dh183 million. Since its establishment in 2000, EDC, a subsidiary of Multiply Group, created a strategic partnership with Sweroad, which was governed by the Swedish Transport Administration from 1983 – 2018, for the initial development and continuous improvement of its curricula according to global standards. The company has formed a joint quality committee with the Abu Dhabi Mobility aimed at ensuring its training programmes and methodologies align with the Emirate's laws.
Yahoo
22-04-2025
- Automotive
- Yahoo
Emerging Middle Eastern Small Caps Including Emirates Driving Company P.J.S.C With Promising Potential
In recent times, Middle Eastern markets have experienced mixed movements, influenced by global economic factors such as U.S. policy shifts and corporate earnings reports. As investors navigate these fluctuations, identifying small-cap stocks with robust fundamentals and growth potential becomes increasingly important for those seeking opportunities in this dynamic region. Name Debt To Equity Revenue Growth Earnings Growth Health Rating Alf Meem Yaa for Medical Supplies and Equipment NA 17.03% 18.37% ★★★★★★ MOBI Industry 6.50% 5.60% 24.00% ★★★★★★ Baazeem Trading 6.93% -1.88% -2.38% ★★★★★★ Saudi Azm for Communication and Information Technology 2.07% 16.18% 21.11% ★★★★★★ National Corporation for Tourism and Hotels 15.77% -3.48% -12.95% ★★★★★★ National General Insurance (P.J.S.C.) NA 13.40% 30.21% ★★★★★☆ Union Coop 3.73% -4.15% -13.19% ★★★★★☆ Keir International 23.18% 49.21% -17.98% ★★★★★☆ Saudi Chemical Holding 73.23% 15.66% 44.81% ★★★★☆☆ Waja 23.81% 98.44% 14.54% ★★★★☆☆ Click here to see the full list of 247 stocks from our Middle Eastern Undiscovered Gems With Strong Fundamentals screener. Let's review some notable picks from our screened stocks. Simply Wall St Value Rating: ★★★★★★ Overview: Emirates Driving Company P.J.S.C., along with its subsidiaries, specializes in managing and developing motor vehicle driving training in the United Arab Emirates, with a market capitalization of AED2.67 billion. Operations: Emirates Driving Company generates revenue primarily from car and related services, totaling AED512.93 million. Emirates Driving Company, a nimble player in the Middle East, showcases strong financial health with zero debt over the past five years and high-quality earnings. The company reported impressive sales of AED 512.93 million for 2024, up from AED 355.64 million the previous year, while net income rose to AED 277.21 million from AED 267.15 million. Despite a modest annual earnings growth of 3.8%, which lagged behind its industry benchmark of 8.3%, it remains an attractive investment trading at nearly half its estimated fair value and continues to distribute dividends generously at AED 183 million for fiscal year-end. Click to explore a detailed breakdown of our findings in Emirates Driving Company P.J.S.C's health report. Explore historical data to track Emirates Driving Company P.J.S.C's performance over time in our Past section. Simply Wall St Value Rating: ★★★★★☆ Overview: Palms Sports PJSC offers sports training programs, focusing on Jiu-Jitsu and other sports in the United Arab Emirates, with a market capitalization of AED969 million. Operations: The company generates revenue primarily from coaching and training services, along with the sale of related materials, amounting to AED1.05 billion. Palms Sports PJSC, a dynamic player in the Middle East's fitness and training sector, showcases robust financial health with high-quality earnings and a solid net profit margin of 10.4%, albeit lower than last year's 18.3%. The company's price-to-earnings ratio stands attractively at 8.8x, undercutting the AE market average of 12.7x, suggesting potential value for investors. Despite a rise in debt-to-equity from 0% to 41.1% over five years, interest payments are well covered by EBIT at 16.3 times coverage. Recent strategic contracts worth AED100 million highlight its growth trajectory and commitment to national partnerships in UAE's fitness landscape. Click here to discover the nuances of Palms Sports PJSC with our detailed analytical health report. Evaluate Palms Sports PJSC's historical performance by accessing our past performance report. Simply Wall St Value Rating: ★★★★★★ Overview: Nofoth Food Products Company specializes in the production and sale of bakery products within Saudi Arabia, with a market capitalization of SAR1.19 billion. Operations: Nofoth Food Products generates revenue through the sale of bakery products in Saudi Arabia. The company's net profit margin is 12.5%. Nofoth Food Products, a nimble player in the Middle East's food sector, has shown impressive earnings growth of 25% over the past year, outpacing the industry average of 14.8%. The company is debt-free and boasts high-quality earnings, which speaks to its operational efficiency. Despite this strong performance, its share price has been highly volatile over recent months. With levered free cash flow reaching US$56.35 million by April 2025 and capital expenditure at US$15.46 million, it seems Nofoth is investing strategically to support future growth while maintaining financial prudence. Get an in-depth perspective on Nofoth Food Products' performance by reading our health report here. Review our historical performance report to gain insights into Nofoth Food Products''s past performance. Embark on your investment journey to our 247 Middle Eastern Undiscovered Gems With Strong Fundamentals selection here. Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive. Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ADX:DRIVE ADX:PALMS and SASE:9556. Have feedback on this article? Concerned about the content? with us directly. 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