Abu Dhabi, UAE— EasyLease, a Mobility Solution company and subsidiary of Abu Dhabi-based International Holdings Company (IHC), reported a net profit of AED32.73 million for the first nine months of 2022, a 32 percent year-on-year increase.
The total revenue in the third quarter ended September stood at AED156.11 million, as compared to AED103.99 million in the same period the previous year.
The company will reach 30,000 motorbikes by the end of 2022, doubling the size of its fleet from a year earlier, and acquired 55 percent of The Captain’s Club, the UAE’s biggest boat club for AED 70 million.
Matar Suhail Ali Al Yabhouni, Chairman of of EasyLease, said, “EasyLease growth this quarter has been very strong across the UAE market and continued to be robust across traditional and new delivery markets.”
Easy Lease said it will open local offices in Saudi Arabia and Bahrain before the end of this year, targeting a 10 percent share by the end of 2023 of the Saudi Arabian market, which currently stands at 36 million deliveries monthly.