asyleas,
asylease
Press Release
EasyLease Records Strong First-Half Revenue Growth,
Affirms 2023 Guidance
• The esteemed mobility solution provider reported a remarkable 37.5% year-on-year
surge in net revenues for the initial half of 2023.
• The substantial increase was attributed to the UAE market heightened demand for
the company’s innovative mobility business solutions.
Abu Dhabi, UAE 26th July 2023: EasyLease (ADX: EASY LEASE), the leading Mobility Solution
company, a subsidiary of Abu Dhabi-based International Holdings Company (IHC), has
released its financial results for the first half of 2023, ended on 30 June, reporting AED 139
million in revenue, a significant 37.5% YoY increase over H1 2022, while the company gross
profit increased by 18% YoY to reach AED 36.8 million.
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% to 66%.
Additionally, during the same period, the net profit registered AED 16.3 million, compared
to AED 22.2 million 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.
“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.” said
Matar Suhail Ali Al Yabhouni, Chairman of of EasyLease.
The demand for mobility solutions in the UAE's last-mile delivery system is experiencing
robust expansion. The favorable attributes of motorcycles, including cost-effectiveness,
exceptional maneuverability, and expedited travel, are driving notable growth in the
mobility market within the country. Consequently, a multitude of e-commerce, F&B, and
other business platforms are embracing motorcycles for their delivery operations.
Furthermore, the heightened fuel efficiency and minimal annual maintenance expenses
contribute significantly to the escalating demand for motorcycles in the UAE.
The UAE CEP Market size is expected to grow from USD 2.11 billion in 2023 to USD 3.41
billion by 2028, at a CAGR of 10.05% during the forecast period (2023-2028).
| 1Press Release
Commenting on the results, 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 strategically 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 exploring innovative
solutions like autonomous vehicles and drone deliveries to optimize last-mile delivery
processes, ensuring greater speed and effectiveness.
-END-
| 2Press Release
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
Media Contacts
Ahmad Ibrahim Mary Khamasmieh
Group Head Marketing and Corporate Head of Government Communications
Communications Weber Shandwick
International Holding Company +971 50 2731 753
Ahmad.ibrahim@ihcuae.com mkhamasmieh@webershandwick.com
| 3Lease
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