Q3 net profits played a pivotal role in fueling the company's long-term investments, particularly in new verticals and the expansion of existing operations across regional markets.

Abu Dhabi, UAE: EasyLease (ADX: EASY LEASE), the leading Mobility Solution company, a subsidiary of Abu Dhabi-based International Holdings Company (ADX: IHC), has released its financial for the third quarter ended Sept. 30, 2023, reporting AED 211.79 million in revenue, with 35.6% YoY increase over Q3 2022, While the company's net profit stood at AED 26.5 million, compared to AED 32.73 million for the same period in 2022, as the company continues to invest in its long-term business expansion plan.

Easylease strategically inaugurated new branches in Saudi Arabia and Bahrain to bolster its market presence and leverage the burgeoning regional opportunities. Furthermore, the company ventured into new verticals, encompassing limousine services, Parking Management, and vehicle rentals, while simultaneously achieving robust growth in operational profit during the same period."reaching AED 28.25 million, edging slightly past the AED 28.21 million attained in the corresponding 2022 period.

“We maintain an unwavering commitment to investment in geographical expansion, fortifying our presence, and aggressively pursuing greater market share in local and regional markets.” Said Ahmad Al Sadah, CEO of EasyLease.

The regional mobility solutions industry is witnessing a fundamental shift towards innovative smart mobility options that can go a long way in slashing its carbon footprint. Motorcycles have a great potential to do their part for sectoral emission reduction through a variety of measures – from electrification to improving fuel economy. Their favorable attributes, such as cost-effectiveness, exceptional maneuverability, and expedited travel, are driving the popularity of two-wheelers in the UAE’s and in the GCC mobility market, especially in the last-mile delivery space.

“While our new investments may have affected some of our quarterly figures, we view it as a transient impact and remain steadfast in our commitment to long-term sustainability and the realization of our ambitious objectives laid out in our 2025 strategic plan." Al Sadah explained.  

Looking forward, EasyLease is strategically exploring the implementation of unmanned aerial vehicles (UAVs) for goods transportation, with a vision to establish an aerial drone-based delivery system. These initiatives are pivotal in advancing a more sustainable mobility ecosystem, ultimately aiming to develop a futuristic fleet that will spearhead decarbonization efforts in last-mile delivery across the UAE and the broader region.

Easylease is proactively intensifying investments in state-of-the-art technology and fortifying its infrastructure to significantly augment its market footprint across the region. The integration of automated solutions is a keystone in elevating the operational efficiency of the company's clients. Furthermore, a distinct focus is placed on the exploration of groundbreaking innovations such as autonomous vehicles and drone deliveries, aimed at optimizing last-mile delivery processes for heightened speed and efficiency."

About EasyLease

Founded in 2011, EasyLease is a listed company on the ADX Second Market under the ticker "EasyLease" and operates as a capital subsidiary under the International Holding Company (IHC). With a fleet of over 25,000 bikes, the company renders turnkey, ready-to-go leasing mobility solutions with primary activity in leasing motorcycles to e-commerce, delivery companies, logistics and courier companies, and food aggregators.

About International Holding Company

HC was founded in 1998 as part of an initiative to diversify and develop non-oil business sectors in the UAE and has grown to become the most valuable listed holding company in the Middle East with a market cap of AED 864 billion as of June 30, 2023. The company endeavors to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region's largest conglomerates. IHC is included in FTSE ADX 15 Index (FADX 15), representing the top 15 largest and most liquid companies on the ADX.

IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 444 subsidiaries and over 126,000 employees, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Asset management, Healthcare, Real Estate and Construction, Marine and Dredging, IT and Communications, Financial Services, Food Production and Service, Utilities, and Services. With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities.

www.ihcuae.com