Parkin Company PJSC, the largest provider of paid public parking facilities in the Emirate of Dubai, reported strong fourth-quarter and full-year 2025 results, supported by higher enforcement activity and portfolio expansion.
Fourth-Quarter Earnings Surge
Revenue rose 47 percent year-on-year to AED389.4 million in the fourth quarter of 2025. Meanwhile, EBITDA increased to AED232.9 million, maintaining a margin of 60 percent. Net profit climbed 53 percent to AED183.6 million.
The company attributed the performance to disciplined enforcement and portfolio growth. In addition, seasonal card sales reached record levels during the period. Although total transactions remained broadly stable at 37 million, utilisation declined as expected due to a higher share of seasonal card users and the addition of new spaces.
Total violations issued increased 59 percent to approximately 810.2 thousand. Moreover, the number of permits and seasonal subscriptions surged 140 percent year-on-year to 89.3 thousand cards. As a result, recurring revenue streams strengthened during the quarter.
Eng. Mohamed Abdullah Al Ali, Chief Executive Officer of Parkin, said: “We concluded 2025 with strong performance in the final quarter, converting disciplined enforcement into higher earnings. As in previous periods, we continued to expand our operational footprint by adding public parking spaces and developer-owned parking to our portfolio, supported by Dubai’s position as a global destination for living, working and investment. Seasonal card sales reached record levels as customers recognised the relative value offered by this product. Total transactions remained broadly stable compared to the same period last year, while utilisation declined as expected, reflecting the higher proportion of seasonal card users and the addition of new parking spaces.”
He added: “We benefited from the implementation of flexible tariffs earlier in the year. On the enforcement front, we continued deploying our technology-enabled smart inspection fleet, supported by data-driven field inspector deployment to enhance compliance across the network.”
Full-Year Performance and 2026 Outlook
On a full-year basis, revenue increased 43 percent year-on-year to AED1.326 billion. Similarly, net profit rose 48 percent to AED625.5 million. EBITDA growth remained aligned with revenue expansion, reflecting operating leverage across the platform.
The total number of parking spaces reached approximately 229,000 by year-end, marking an 11 percent annual increase. Therefore, the expanded footprint supported higher enforcement coverage and subscription growth.
Subject to shareholder approval, the Board intends to recommend a cash dividend of AED343.7 million for the second half of 2025. Payment is expected in late April 2026.
Looking ahead, the company expects public parking revenue in 2026 to range between AED560 million and AED610 million. Additionally, fine revenues are projected between AED420 million and AED460 million. Seasonal card revenues are forecast between AED260 million and AED280 million. As such, management anticipates continued earnings support from enforcement, tariff optimisation and subscription growth.
