Easy Lease Motorcycle Rental PJSC

EasyLease, a leader in the UAE's mobility solutions sector and a subsidiary of International Holding Company, reported strong financial results for the first nine months of 2024. The company achieved AED 292 million in revenue, marking a 38% year-over-year growth. Operational profit increased by 47.2% to AED 32.7 million, and the asset base grew to AED 528 million. The growth was driven by high demand in the mobility and logistics segments and strategic investments in new business lines and geographic expansion, including operations in Saudi Arabia and Bahrain. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to AED 77.5 million, highlighting the company's operational strength. Net profit after tax increased by 5% to AED 27.9 million, influenced by investments in new ventures. Excluding these ventures, core operations saw a 15% net profit growth. CEO Ahmad Al Sadah emphasized the company's focus on technology and innovation to maintain its leadership in the mobility sector.

Easy Lease Motorcycle Rental PJSC reported strong financial performance for the nine-month period ending September 30, 2024. The company achieved an operational profit of AED 32.70 million, up from AED 22.21 million in the same period in 2023. Net profit after tax increased to AED 27.94 million from AED 26.50 million in 2023. Revenue rose to AED 292.03 million compared to AED 211.79 million for the same period in 2023. Total assets as of September 30, 2024, were AED 527.65 million, up from AED 376.21 million at the beginning of the year. General and administrative expenses were AED 56.08 million, compared to AED 34.40 million in 2023. The report was presented by CEO Ahmad Mohammad Al Sadah.

Easy Lease Motorcycle Rental PJSC has provided a summary of its audited financial statements. As of September 30, 2024, the company reported total non-current assets of AED 305,398,000 and total current assets of AED 222,255,000. Total current liabilities stood at AED 163,700,000, while total non-current liabilities were AED 140,808,000. The total shareholders' equity was AED 223,144,000. For the nine-month period ending September 30, 2024, the company achieved total revenue of AED 292,030,000, a gross profit of AED 88,782,000, and a net profit of AED 27,936,000. Earnings per share for this period were AED 0.69. Ahmad Mohammad Al Sadah serves as the CEO.

The text is a formal communication from Easy Lease Motor Cycle Rental PSC addressed to the Disclosure and Compliance Section of the Abu Dhabi Securities Exchange. It summarizes the results of a Board of Directors' meeting held on October 23, 2024. During the meeting, the Board approved the financial statements for the period ending September 30, 2024, and discussed general business matters related to the company's activities. The meeting was attended by all board members via video conference. The message is signed by Ahmad Mohammad Al Sadah, the CEO.

Easy Lease Motorcycle Rental PJSC has announced the acquisition of a 51% stake in Gallega Global Logistics, a subsidiary of the Ghassan Aboud Group. This move enhances Easy Lease's presence in the mobility and logistics sectors. Gallega, with its significant infrastructure, has been crucial in optimizing supply chains across various industries and managed over 130,000 vehicles in 2023. The acquisition aligns with Easy Lease's strategy to expand its mobility and logistics solutions, incorporating advanced AI and IoT technologies, and opens new growth opportunities both regionally and internationally.

EasyLease, a UAE mobility solutions company, has acquired a 51% stake in Gallega Global Logistics, a logistics service provider. This acquisition secures 3.5 million square feet of logistics infrastructure in the UAE and marks EasyLease's entry into the logistics sector. The deal aims to integrate EasyLease's mobility solutions with Gallega's infrastructure to create a comprehensive mobility and logistics ecosystem. Both companies plan to invest in advanced mobility technologies and AI. The acquisition aligns with the UAE Industrial Strategy 2030 and aims to enhance EasyLease's competitive edge in the MENA region's logistics industry.

The Board of Directors of Easy Lease Motorcycle Rental PSC will hold a meeting on Wednesday, October 23, 2024, at 3:30 PM via Microsoft Teams. The agenda includes approving the financial statements for the period ending September 30, 2024, and discussing other business matters. The notification is addressed to the Market Operations Surveillance Department at the Abu Dhabi Securities Exchange. The letter is signed by CEO Ahmad Mohammad Al Sadah.

EasyLease reported a 36.1% year-over-year revenue increase for the first half of 2024, reaching AED 189.72 million. Operational profit rose by 67.3% to AED 24.3 million, and net profit increased by 11.3% to AED 18.24 million. The company's total assets grew to AED 478.98 million as of June 30, 2024. This growth is attributed to strong demand in the mobility and logistics sectors in the UAE and GCC, as well as strategic investments in technology and market expansion. Chairman Matar Suhail Ali Al Yabhouni and CEO Ahmad Al Sadah highlighted the company's robust performance and commitment to long-term growth and sustainability.

Easy Lease Motor Cycle Rental P.S.C has released its review report and unaudited interim condensed consolidated financial statements for the six-month period ending on June 30, 2024.