Easy Lease Motorcycle Rental

1. Company Overview & Earnings Context

Easy Lease reported its Q1 2026 results, delivering a strong performance with solid revenue growth and a sharp increase in profitability, supported by operating leverage and business expansion.

2. Financial Performance Snapshot

• Revenue: AED 189.7M (+14% YoY)

• Operating profit: AED 28.3M (+72% YoY)

• Net profit after tax: AED 20.7M (+98% YoY)

• EBITDA: AED 54.7M (+55% YoY)

• Net profit margin: 10.9% (improved YoY)

• ROE: 5.7%

• ROA: 2.0%

3. Operational Highlights & Key Metrics

• Total assets: AED 1.04B (+4% vs FY25)

• Total equity: AED 360.2M (+7% vs FY25)

• Borrowings: AED 326.9M (+8.2%)

• Current ratio: 1.18 (healthy liquidity)

• Fleet size: 49,000+ vehicles

4. Key Performance Drivers

Easy Lease’s Q1 performance was driven by strong operating leverage and expansion across both mobility and logistics segments. Revenue growth of 14% translated into a significantly higher ~98% increase in net profit, highlighting margin expansion, as seen in the CEO message (page 2) and financial highlights.

Key drivers included:

• Higher fleet utilisation and expansion, supporting revenue growth

• Improved business mix, particularly with logistics contributing more meaningfully

• Cost discipline and operational efficiency, enhancing margins

• Integration of acquisitions, strengthening scale and diversification

5. Outlook & Forward Guidance

The company enters the remainder of 2026 with strong growth visibility, supported by continued expansion in fleet, logistics integration, and technology-driven efficiencies. Management highlights a disciplined focus on execution and financial control, alongside scalable growth across core segments.

6. ???? Investor Takeaway

Easy Lease delivered strong earnings growth with significant margin expansion, demonstrating the scalability of its mobility and logistics platform.