EasyLease has announced its audited financial results for FY 2024, reporting a 53% year-over-year (YoY) revenue increase to AED 456 million ($124.2 million). The company’s operational profit surged by 71% to AED 54 million ($14.7 million), reinforcing its position as a leader in the region’s mobility sector.
Growth Driven by Acquisitions and Business Expansion
EasyLease’s impressive financial performance was fueled by strategic acquisitions and organic business development. The company acquired United Trans, a railway and mobility solutions provider, and Gallega Global Logistics, a supply chain and warehousing expert.
Additionally, EasyLease expanded its service portfolio by launching new ventures in vehicle rentals and roadside assistance, further strengthening its asset base, which now stands at AED 788 million ($214.6 million).
Ahmad Al Sadah, CEO of EasyLease, emphasized the company’s transformation:
“2024 has been a transformative year for Easy Lease. These results highlight not only our strong operational foundation but also our vision to redefine mobility and logistics across the region.”
Profitability and Long-Term Strategy
- EBITDA grew to AED 116 million ($31.6 million), reflecting strong financial stability.
- Net profit increased by 18%, with strategic investments contributing to long-term sustainable growth.
- Excluding new investments, net profit climbed to AED 53 million ($14.4 million), compared to AED 40 million ($10.9 million) in FY 2023.
Shaping the Future of Mobility and Logistics
Looking ahead, EasyLease remains focused on:
- Investing in technology and assets to drive innovation.
- Enhancing operational efficiency to maintain profitability.
- Expanding services to meet the evolving demands of the mobility sector.
“By leveraging our core strengths and strategic diversification, we are positioning EasyLease for sustainable growth and long-term market leadership,” Al Sadah added.
With a strong financial outlook, EasyLease is set to continue its regional expansion, driving innovation in mobility and logistics across key markets.