whatsapp

Parkin Posts 50% Profit Rise in Q3 2025, Lifts Full-Year Guidance

/media/GA_krhQjFz._1.webp © Image Copyrights Title

Dubai — Dubai’s largest paid-parking operator Parkin Company reported a 50 per cent jump in net profit to Dhs157 million for the third quarter of 2025, supported by strong revenue growth, record seasonal card sales and continued expansion across its network.

Total revenue rose 43 per cent year-on-year to Dhs343.3 million, while EBITDA climbed 36 per cent to Dhs199.8 million, yielding a margin of 58 per cent. The company ended the quarter with 219,000 active parking spaces, up 6 per cent from a year earlier, and revised its full-year 2025 revenue guidance upward.

CEO Eng. Mohamed Abdulla Al Ali said the results reflected disciplined execution of Parkin’s growth strategy. “Revenues rose 43 per cent, driven by the variable tariff rollout, network expansion, record card sales and strong enforcement income,” he said, adding that partnerships such as the new CAFU on-demand fuel and wash service reinforced Parkin’s innovation focus.

Operational Performance

Public parking capacity grew 7 per cent to 192,100 spaces, while multi-storey capacity increased 14 per cent after the Al Rigga MSCP reopening. Total parking transactions reached 34.1 million, and seasonal card sales surged 126 per cent to 81,000. The company issued 682,000 enforcement notices, up 63 per cent year-on-year, aided by an expanded smart-inspection fleet.

Financial Highlights

  • Revenue: Dhs343.3 m (+43%)

  • EBITDA: Dhs199.8 m (+36%), 58% margin

  • Net profit: Dhs157 m (+50%)

  • Free cash flow to equity: Dhs433.4 m, 99% conversion

  • Net debt: Dhs577.3 m vs liquidity of Dhs654.8 m (incl. Dhs100 m RCF)

Public-parking revenue rose 30 per cent to Dhs135 million; seasonal card and permit revenue grew 57 per cent to Dhs59.9 million; enforcement income jumped 59 per cent to Dhs103 million.

With liquidity exceeding Dhs650 million and continued demand across Dubai’s urban network, Parkin said it is on track for another record year. The company expects sustained growth from developer-parking contracts, digital-service launches, and wider adoption of smart-mobility initiatives through 2026.

Commnets 0
Leave A Comment

Related Posts
© Egypt, UAE Explore Wider Oil and Gas Drilling Partnership

Egypt, UAE Explore Wider Oil and Gas Drilling Partnership

Egypt and the United Arab Emirates are exploring deeper cooperation in oil and gas drilling as Cairo moves ahead with plans to increase domestic production through a broader programme of onshore and o...

© Former JPMorgan Executive Matt Zames Joins Social Security Agency as Advisor

Former JPMorgan Executive Matt Zames Joins Social Security Agency as Advisor

Former JPMorgan Chase executive Matt Zames is set to join the U.S. Social Security Administration in an unpaid advisory role, according to people familiar with the appointment....

© U.S. Treasury Bond Buybacks Offer Short-Term Relief as Debt Concerns Grow

U.S. Treasury Bond Buybacks Offer Short-Term Relief as Debt Concerns Grow

The U.S. Treasury’s decision to expand purchases of longer-term government bonds may ease pressure in the bond market temporarily, but analysts warn it does little to solve America’s broader debt prob...

© Jaywan Payment Network Expands Across UAE Airlines, Retail and E-Commerce

Jaywan Payment Network Expands Across UAE Airlines, Retail and E-Commerce

The UAE’s domestic payment network, Jaywan, is gaining wider acceptance as airlines, shopping destinations and online retailers begin integrating the card into their payment systems....

© UniCredit Moves Closer to Commerzbank Control as German Resistance Softens

UniCredit Moves Closer to Commerzbank Control as German Resistance Softens

Italian banking group UniCredit is moving closer to gaining control of Germany’s Commerzbank, as signs emerge that Berlin may be becoming more open to discussing the future of its remaining stake in t...

© Trump Orders Tariffs of Up to 100% on Imported Drones

Trump Orders Tariffs of Up to 100% on Imported Drones

US President Donald Trump has ordered sweeping new tariffs on imported drones and key components, with duties reaching as high as 100% for certain advanced systems as his administration seeks to reduc...

© ADNOC’s XRG Enters Venezuela With Stake in Loran Gas Project

ADNOC’s XRG Enters Venezuela With Stake in Loran Gas Project

ADNOC-backed investment company XRG has entered Venezuela’s energy sector after securing an interest in the offshore Loran gas licence, expanding its growing international natural gas portfolio into a...

© UAE Flight Update: India Travel Advisory and Regional Cancellations

UAE Flight Update: India Travel Advisory and Regional Cancellations

Most flights across the UAE are operating normally on August 13, although selected services to Bahrain and Kuwait have faced cancellations, delays or schedule changes....

© UAE Steps Up Tax Enforcement, Seizes 8.45 Million Non-Compliant Excise Products

UAE Steps Up Tax Enforcement, Seizes 8.45 Million Non-Compliant Excise Products

The UAE’s Federal Tax Authority (FTA) confiscated around 8.45 million non-compliant excise products during the first six months of 2026 as part of a nationwide campaign targeting tax violations, illic...

© Diesel Prices Surge as Refinery Attacks Tighten Global Fuel Supplies

Diesel Prices Surge as Refinery Attacks Tighten Global Fuel Supplies

Diesel prices have surged across the United States and Europe as attacks on major refineries, depleted inventories and continuing disruption to key energy shipping routes intensify concerns over globa...