97.3 million dirhams in revenue "Izzy is not" In the first quarter of 2024
ABU DHABI, 27 APRIL / WAM / “Easy Lease”, a subsidiary of the International Holding Company, announced today its financial results for the first quarter ending on March 31, 2024, which showed the company recording revenues of 97.36 million dirhams, an increase of 38.6% compared to the first quarter of 2023, and profits Strong operational value of 19.55 million dirhams, more than doubling compared to 9.24 million dirhams in the same period last year.
The company’s net profits, after deducting taxes, rose to 13.01 million dirhams, a significant increase from the 5.50 million dirhams recorded in the first quarter of 2023.
The total value of the company’s assets amounted to 458.53 million dirhams as of March 31, 2024, compared to 376.21 million dirhams at the beginning of the year.
Easy Lease has made a strategic acquisition of a 60% stake in United Trans, a rail, mobility and transportation solutions company affiliated with Al Serkal Group. This acquisition represented a significant expansion of the company’s rail and mobility technology solutions, and reinforced its commitment to diversifying its business portfolio and enhancing its capabilities across the regional mobility sector.
Ahmed Al-Sada, CEO of Easy Lease, said that this significant growth in the first quarter is due to the company’s ambitious strategy and tireless pursuit of operational excellence, noting the role of the investments and expansion plans that the company has adopted in the past two years in achieving significant financial returns this year, as well as The correct strategic decisions taken during that period contributed to achieving positive results that culminated in remarkable financial performance and current operational successes.
He added that the acquisition of “United Trans” was in line with our long-term vision to become a dominant pole in the transportation market in the region, and thus strengthen our leadership in the innovation and expansion scene in the market. We are confident that this strategic investment will contribute to the development of our operational operations and the expansion of their scope, and puts New standards for the integration of smart mobility solutions, in line with our strategic goals for 2025 in advancing regional connectivity and connectivity and supporting sustainability.
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