EasyLease Records Robust Growth with AED 139 Million Revenue in H1 2023
EasyLease, the leading Mobility Solution company and a subsidiary of Abu Dhabi-based International Holdings Company (IHC), has announced its financial results for the first half of 2023, ending on 30th June. The company reported AED 139 million in revenue, marking a substantial 37.5 percent year-on-year (YoY) increase over H1 2022. Additionally, EasyLease’s gross profit saw an 18 percent YoY growth, reaching AED 36.8 million.
The company recently reaffirmed its 2023 guidance and concurrently adjusted its growth outlook for the UAE, Saudi, and Bahraini markets, raising it from 37.5 percent to 66 percent. During the same period, EasyLease achieved a net profit of AED 16.3 million, compared to AED 22.2 million in the previous corresponding period. This adjustment in net profit was primarily influenced by the company’s strategic focus on expanding investments in the development and deployment of new mobility solutions, which aligns with its long-term growth plan projections.
Matar Suhail Ali Al Yabhouni, Chairman of EasyLease, expressed satisfaction with the company’s first-half performance and emphasized its commitment to long-term sustainability and achieving ambitious objectives outlined in the forward 2025 plan.
Ahmad Al Sadah, CEO of EasyLease, commented on the impressive results, stating, “As the UAE solidifies its position as a prominent e-commerce and smart hub in the region, EasyLease is proactively addressing logistics mobility supply gaps to provide expedited delivery services and enhance customer satisfaction. This strategic focus aligns with our ongoing investment efforts.”
EasyLease is actively ramping up its investments in cutting-edge technology and strengthening its infrastructure to expand its market presence across the region. The company is implementing automated solutions to enhance operational efficiency for its clients. Furthermore, EasyLease is emphasizing the exploration of innovative solutions like autonomous vehicles and drone deliveries to optimize last-mile delivery processes, ensuring greater speed and effectiveness.
The company’s growth outlook reflects its strong position in the mobility solution sector and its dedication to adapting to evolving market demands. With a focus on technological advancement and customer-centric services, EasyLease is well-positioned to capitalize on the booming e-commerce industry and contribute to the continued growth of the UAE’s logistics sector.
The positive financial results and strategic initiatives of EasyLease in the first half of 2023 indicate a promising trajectory for the company, as it continues to innovate and cater to the evolving needs of consumers and businesses in the region. As the mobility solutions market continues to thrive, EasyLease’s growth story is expected to unfold with even greater success in the coming months and years.
