Latest news with #Swvl
Associated Press
27-05-2025
- Business
- Associated Press
Swvl Secures 3-Year Contract Worth Up to $4 Million with a Large Enterprise in Essential Services
Swvl secures a 3-year contract worth up to $4 million, which it expects will exceed $5.2 million by contract expiry, which extends a longstanding relationship for a total of six years with this renewal Swvl's services extend to provide accessibility to remote cities like NEOM, the ambitious smart city project in Saudi Arabia currently under construction, ensuring essential connectivity The contract renewal signifies Swvl's efforts to expand across Saudi Arabia, further solidifying its regional presence as a transport provider to strategic initiatives DUBAI, United Arab Emirates, May 27, 2025 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ('Swvl' or the 'Company') (Nasdaq: SWVL), a leading global provider of technology-enabled mobility solutions for enterprises and governments, today announced the renewal of its contract during January 2025 with a large enterprise in essential services. This renewed three-year agreement, valued at approximately $4 million (based on the exchange rates of Saudi Riyal to U.S. Dollars), which Swvl expects to exceed $5.2 million by contract expiry, underscores the Company's strategic role in expanding transportation operations by providing essential mobility services to NEOM, the region's flagship smart city project in Saudi Arabia. By securing this contract renewal, Swvl believes that it further cements its position as a trusted partner in the region of Saudi Arabia's logistics sector, where the demand for secure, reliable transportation solutions continues to grow. Swvl further believe that this transport use case is significant in the region, driven by ongoing investments in infrastructure, government projects, and regional development initiatives. This contract renewal also highlights Swvl's goal to expand its operational network to remote areas like NEOM, a visionary smart city under construction that is planned to span 26,500 square kilometers. Providing accessible and reliable transportation to such remote areas is vital in maintaining operational continuity and supporting the city's ambitious development timeline. Furthermore, Swvl's advanced technology platform aims to enable its enterprises to efficiently manage dynamic transportation demands, and to optimize fleet operations to ensure timely service delivery for mission-critical operations. We believe that this adaptability is particularly crucial in remote and evolving city landscapes such as NEOM, where dynamic transportation requirements necessitate responsive, technology-driven solutions. Mostafa Kandil, Chief Executive Officer of Swvl, commented: 'We are honored to continue our relationship with a leader enterprise in Saudi Arabia's essential services sector. We believe that this renewed agreement not only strengthens our footprint in the sector, but also aligns with our mission to expand Swvl's transportation network across Saudi Arabia, including strategic developments in NEOM. By integrating our technology platform, we aim to deliver unparalleled convenience, reliability, and operational excellence to our customers.' For more information about Swvl and its services, please visit About Swvl Swvl is a global technology provider offering transformative mobility solutions for enterprises and governments. The Company's platform delivers innovative transportation alternatives, with a goal to enable safer, more efficient, and accessible mobility options. Swvl operates in numerous cities worldwide, providing services with a goal to empower individuals and organizations to navigate their environments effectively. Forward-Looking Statements This press release contains 'forward-looking statements' relating to future events. Forward-looking statements generally are accompanied by words such as 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. For example, Swvl is using forward-looking statements when it discusses the potential and value of the three-year contract with the large enterprise; its ability to expand operations and to extend accessibility to remote cities like NEOM while ensuring essential connectivity; its expansion across Saudi Arabia including its strategic development; its continues position as a trusted partner in the Saudi Arabia; its platform's abilities, including but not only ability its to efficiently manage dynamic transportation demands and to optimize fleet operations to ensure timely service delivery for mission-critical operations; its ability to maintain such partnership; and its ability to deliver unparalleled convenience, reliability, and operational excellence to their partners. These statements are based on the current expectations of Swvl's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Swvl. These statements are subject to a number of risks and uncertainties regarding Swvl's business, and actual results may differ materially. In addition, forward-looking statements provide Swvl's expectations, plans, or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments could cause Swvl's assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Swvl's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon any forward-looking statements. Except as otherwise required by law, Swvl undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading 'Risk Factors' in the Company's annual report on Form 20-F for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC'), which is available on the SEC's website, and in subsequent SEC filings. Contact Investor Relations: [email protected] Ahmed Misbah, Swvl's Chief Financial Officer: [email protected]
Zawya
22-05-2025
- Business
- Zawya
Swvl launches Luxury Travel Vertical, unlocking high-margin growth potential across its operating markets and secures first revenue in the UAE
Launched and collaborating with three top chauffeur providers and two leading travel agencies across existing markets Swvl's proprietary technology platform powers seamless booking experiences, real-time fleet optimization, and personalized service management, ensuring a world-class experience DUBAI, United Arab Emirates, (GLOBE NEWSWIRE) -- Swvl Holdings Corp ('Swvl' or the 'Company') (Nasdaq: SWVL), a leading global provider of technology-enabled mobility solutions for enterprises and governments, today announced the official launch of its luxury travel vertical, offering a comprehensive suite of premium mobility services designed to meet the rising demand for high-end transportation across its operating markets. The new offering includes luxury airport transfers, on-demand rides, intercity travel, personalized meet-and-greet services, and event transportation solutions, tailored for frequent travelers and corporate clients. This strategic move is aimed to accelerate Swvl's diversification into high-margin business segments, and to support its path towards sustainable profitability. The United Arab Emirates marks only the beginning of Swvl Luxury Travel's rollout, with the Company actively expanding this use case across the Gulf Cooperation Council ('GCC'), where high-net-worth client segments, mega exhibitions, business travel, and rising traffic congestion are accelerating the demand for premium, technology-enabled mobility solutions. This vertical is already gaining traction in GCC, with growing interest from government entities, luxury hospitality groups, and event organizers. Swvl's expansion into this high-margin vertical reinforces its strategy to scale across high-revenue markets and verticals before replicating the model globally. Swvl has completed multiple corporate bookings, and is already collaborating with three top chauffeur providers and two leading travel agencies. The Company has also commenced operations with a renowned luxury fashion house to become their preferred transportation partner across the GCC. These agreements are aimed at providing quick market traction and we believe they mark Swvl's position as a preferred luxury mobility partner for both business and leisure travelers. Mostafa Kandil, Chief Executive Officer of Swvl, commented: 'With this launch, we're expanding our footprint into one of the most promising segments of our industry. The luxury travel market continues to grow rapidly, driven by increasing corporate demand, tourism, and large-scale regional events. Through our technology platform and strategic partnerships, we believe that we are uniquely positioned to deliver premium, reliable, and seamless transportation experiences while driving higher-margin revenues for the business.' Swvl's proprietary technology platform is aimed to power seamless booking experiences, real-time fleet optimization, and personalized service management, and to ensure a world-class experience for premium travelers. With a strong focus on high-growth markets, we believe that Swvl Luxury Travel is set to become a key player in the premium mobility sector, delivering convenience, efficiency, and operational excellence. About Swvl Swvl is a global technology provider offering transformative mobility solutions for enterprises and governments. The Company's platform delivers innovative transportation alternatives, with a goal to enable safer, more efficient, and accessible mobility options. Swvl operates in numerous cities worldwide, providing services that are aimed to empower individuals and organizations to navigate their environments effectively.
Yahoo
14-05-2025
- Business
- Yahoo
Swvl Grows 12.4% Quarter on Quarter in IFRS Revenue, 47% Quarter on Quarter Growth in Revenue in Constant Currency, and Achieves $0.8 Million in Net Profit in Q1 2025
Revenue growth of 12.4%, and 47% in constant currency for Q1 2025 over Q1 2024 Achieved $0.8 million in Net Profit in Q1 2025 Dollar pegged revenue increased to 34.7% of total revenue for Q1 2025, a 118% increase over Q1 2024 and recurring revenue reached an all-time high of 86% of total revenue Record high for Swvl's revenue in the Kingdom of Saudi Arabia, representing a 100% increase in quarter on quarter (QoQ) revenue and 97% increase in QoQ gross margin DUBAI, United Arab Emirates, May 14, 2025 (GLOBE NEWSWIRE) -- Swvl Holdings Corp ('Swvl' or the 'Company') (Nasdaq: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced its financial results for the first quarter of 2025, marking a pivotal combination of growth and profitability. The Company reported a 12.4% QoQ increase in revenue, from $4.37 million to $4.91 million in the first quarter of 2024, compared to the first quarter of 2025. This is driven by strategic market expansions in high-revenue markets and new long-term contract wins. Total gross margin generated rose by 17.7% QoQ, amounting to $0.98 million in Q1 2025, reflecting Swvl's continued execution on high-margin verticals and operational efficiencies. Key Highlights: Revenue Growth: Achieved a 12.4% increase in International Financial Reporting Standards ('IFRS') revenues in the first quarter of 2025 over the first quarter of 2024, fueled by targeted expansion in high-revenue markets and the scaling up of Swvl's commercial organization. Also achieved 47% increase in revenue growth in constant currency. Dollar-Pegged Revenue: Delivered a substantial QoQ growth in dollar-pegged revenue, with 34.7% of our total revenue being dollar-pegged in Q1 2025, compared to 15.9% in Q1 2024. We believe this reinforces Swvl's strategic focus on mitigating currency volatility and scaling in stable and strong economies. Recurring Revenue: Recurring revenue rose to 86% in the first quarter of 2025, up from 76% in the first quarter of 2024, as Swvl leverages long-term contracts in enterprise and government mobility sectors. Market Performance: The Company recorded record high revenue in Saudi Arabia, representing a 100% revenue increase and 97% gross margin increase QoQ. Despite the currency devaluation in Egypt in the first quarter of 2024, revenues derived from Egypt delivered on a 29% increase in local currency revenue as shown in the supplementary information. Swvl also successfully launched its services in the United Arab Emirates market, including securing 3 corporate customers in the first quarter of 2025. High Margin Verticals: The company has launched new verticals which are expected to be of higher gross margin to the business, such as premium travel and financial services for suppliers. Mostafa Kandil, CEO of Swvl, stated: 'Our Q1 2025 results underscore Swvl's renewed focus on profitable growth and strategic market positioning. By expanding into high-margin verticals and reinforcing our dollar-pegged revenue streams, we are effectively mitigating market volatility while enhancing shareholder value. The ongoing scaling up of our commercial organization is already generating tangible results, positioning Swvl for faster growth in subsequent quarters.' Ahmed Misbah, CFO of Swvl, added: 'We remain committed to operational excellence and disciplined cost management. Our gross margin stability and revenue improvement in Q1 2025 is a direct result of strategic cost optimizations and targeted investments in high-revenue verticals. With a stronger commercial organization and a focus on dollar-pegged and recurring revenue, we believe that we are well-positioned to sustain profitable growth throughout 2025.' An explanation and reconciliation of non-IFRS to IFRS measures has been provided in this press release below under the heading "Non-IFRS Financial Metrics." Forward-Looking Statements: This press release contains 'forward-looking statements' relating to future events. Forward-looking statements generally are accompanied by words such as 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'predict,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. For example, Swvl is using forward-looking statements when it discusses its commitment to boosting profitability further while concurrently resuming strategic expansions into high-revenue markets, its focus on dollar-pegged revenue, its intention to enhance and restart quarterly reporting, its focus on improving profitability while resuming its high-paced growth and its belief that it is well-positioned to sustain profitable growth throughout 2025. These statements are based on the current expectations of Swvl's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Swvl. These statements are subject to a number of risks and uncertainties regarding Swvl's business, and actual results may differ materially. In addition, forward-looking statements provide Swvl's expectations, plans, or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments could cause Swvl's assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Swvl's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon any forward-looking statements. Except as otherwise required by law, Swvl undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading 'Risk Factors' in the Company's annual report on Form 20-F for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the 'SEC'), which is available on the SEC's website, and in subsequent SEC filings. About Swvl: Swvl is a leading provider of technology-driven mobility solutions for enterprises and governments. Its technology enhances transit system efficiency, delivering safer, more reliable, and sustainable transportation solutions. For additional information about Swvl, please visit Contact: Email: Email: Non-IFRS Financial Metrics This press release includes references to non-IFRS financial measures, which include constant currency presentation. However, the presentation of these non-IFRS financial measures is not intended to be considered in isolation from, or as an alternative to, financial measures determined in accordance with IFRS. In addition, these non-IFRS financial measures may differ from non-IFRS financial measures with comparable names used by other companies. Swvl uses these non-IFRS financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons, and Swvl's management believes that these non-IFRS financial measures provide meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of recurring core business operating results. There are a number of limitations related to the use of non-IFRS financial measures. In light of these limitations, we provide specific information regarding the IFRS amounts excluded from these non-IFRS financial measures and evaluate these non-IFRS financial measures together with their relevant financial measures in accordance with IFRS. Our results of operations varies on account of foreign currency exchange fluctuations in Egypt. We use constant currency to understand actual operating performance, without influence from currency exchange fluctuations. Below is a reconciliation of our non-IFRS measures to the most directly comparable IFRS measure: IFRSMeasure Impact of usingconstant currency Constant currency presentation Q1 2025 Revenue $4.91 million $1.53 million $6.44 million IFRSMeasure Impact of using constant currency Constant currency presentation Q1 2025 Revenue $4.91 million $1.53 million $6.44 million Q1 2024 Revenue $4.37 million $0 million $4.37 million Revenue Growth % 12.4% 47%Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
