EasyLease, a subsidiary of Abu Dhabi-based International Holdings Company (IHC), has released its financial results for the first half of 2023, ending June 30, reporting AED139m ($38m) in revenue.
It is a significant 37.5 per cent year-on-year (YoY) increase over H1 2022, while the company gross profit increased by 18 per cent YoY to reach AED36.8m ($10m).
EasyLease has recently reaffirmed its 2023 guidance and concurrently adjusted its growth outlook for the UAE, Saudi, and Bahraini markets, elevating it from 37.5 per cent to 66 per cent.
EasyLease financial results
Additionally, during the same period, the net profit registered AED16.3m, compared to AED22.2m in the previous corresponding period, mainly impacted 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, said: “Our first-half performance reinforces our commitment to long-term sustainability and our capacity to achieve the ambitious objectives outlined in our forward 2025 plan”.
Ahmad Al Sadah, CEO of EasyLease, said: “As the UAE continues to solidify its position as a prominent e-commerce and smart hub in the region, Easylease is proactively addressing the logistics mobility supply gaps to provide expedited delivery services and enhance customer satisfaction.
“This strategic focus aligns with our ongoing investment efforts.”
Easylease is ramping up investments in cutting-edge technology and bolstering its infrastructure to expand its market presence throughout the region.
Automated solutions are being implemented to enhance the company’s client’s operational efficiency.
Moreover, there is a notable emphasis on the firm exploring innovative solutions such as autonomous vehicles and drone deliveries to optimise last-mile delivery processes, ensuring greater speed and effectiveness.
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