Easy Lease Motorcycle Rental

1. Company Overview & Earnings Context

Easy Lease Motor Cycle Rental PJSC reported a strong first-half performance for 2026, delivering double-digit growth in revenue, operating profit and net profit as continued expansion across its core mobility business and growing contributions from its logistics operations supported earnings. Higher fleet utilisation, strategic acquisitions, an improving business mix and disciplined cost management drove margin expansion, while ongoing investments in fleet growth and digital capabilities further strengthened the Group's operational performance.

2. Financial Performance Snapshot

• Revenue: AED 398.4 Million (+15% YoY)

• Gross Profit: AED 112.4 Million (+28.1% YoY)

• Operating Profit: AED 58.0 Million (+33.8% YoY)

• Profit Before Tax: AED 50.0 Million (+36.5% YoY)

• Income Tax Expense: AED 5.2 Million

• Net Profit: AED 44.9 Million (+38.2% YoY)

• Basic EPS: AED 1.31 (+54.1% YoY)

Compared with H1 2025:

• Revenue increased from AED 347.2 million to AED 398.4 million.

• Gross profit increased from AED 87.7 million to AED 112.4 million.

• Operating profit increased from AED 43.3 million to AED 58.0 million.

• Profit before tax increased from AED 36.7 million to AED 50.0 million.

• Net profit increased from AED 32.5 million to AED 44.9 million.

3. Operational Highlights & Key Metrics

• Total Assets: AED 1.08 Billion

• Total Equity: AED 384.4 Million

• Total Liabilities: AED 694.6 Million

• Property & Equipment: AED 390.9 Million

• Right-of-Use Assets: AED 137.6 Million

• Intangible Assets & Goodwill: AED 164.7 Million

• Cash & Cash Equivalents: AED 82.3 Million

• Trade & Other Receivables: AED 277.7 Million

• Total Borrowings: AED 321.8 Million

• EBITDA: AED 115.4 Million (+39% YoY)

• EBITDA Margin: 29% (vs. 24% in H1 2025)

• Net Profit Margin: 11.3%

• Return on Equity (Annualised): 24.9%

• Return on Assets (Annualised): 8.6%

• Current Ratio: 1.21x

4. Key Performance Drivers

Easy Lease's growth was driven by continued expansion across its core mobility business, higher fleet utilisation and the increasing contribution from its logistics operations. The core mobility business generated AED 236 million in revenue, while new investments contributed AED 30 million and acquired businesses added AED 133 million, strengthening revenue diversification. Improved operational efficiency, disciplined cost management and continued investment in technology and fleet expansion supported higher margins and profitability during the period.

5. Outlook & Forward Guidance

Management remains optimistic about the remainder of 2026, highlighting resilient business fundamentals, clear growth visibility and a continued focus on execution and financial discipline. The Group intends to further expand its fleet, strengthen its logistics platform, enhance digital capabilities and improve operational integration to support sustainable long-term growth.

6. Investor Takeaway

Easy Lease delivered another strong set of earnings in H1 2026, with healthy growth across revenue, operating profit and net profit while improving margins and returns. Continued expansion of its mobility operations, increasing scale within logistics and disciplined execution have strengthened the Group's financial position, leaving it well placed to sustain its growth momentum over the long term.