whatsapp

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

/media/GA_krhQjFz._1.webp

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

Oil Prices Ease but Remain Above $100 as Hormuz Risks Persist

Oil prices edged lower in early Monday trading after a sharp weekly rally, but crude remained firmly above $100 a barrel as attacks on shipping and disruption to a major Saudi pipeline kept global sup...

Arabian Travel Market at 33: From Dubai Attractions to the Global Tourism Trends That Shaped Travel

The Arabian Travel Market (ATM) is entering its 33rd edition this month, reflecting how dramatically Dubai and the wider Middle East have changed the global tourism landscape over the past three decad...

Saudi Oil Pipeline May Be Hit as Houthi Attacks Escalate: Report

Saudi Arabia's oil infrastructure is facing growing security risks as Iran-backed Houthi forces intensify attacks in and around the kingdom, raising concerns that critical pipelines and export routes ...

Cyberattack Ruled Out in UK Air Traffic Glitch That Hit Hundreds of Flights

A major disruption to Britain's air traffic control system that affected thousands of flights this week was not caused by a cyberattack, according to the UK government, but the incident has raised fre...

US Sanctions All Remaining Iranian Airlines as Tensions Rise Over Hormuz

The United States has imposed sanctions on all of Iran’s remaining active airlines, sharply expanding Washington’s campaign to isolate Tehran as tensions continue to rise around the Strait of Hormuz....

JK Cement UAE Officially Launches JK Profix Construction Chemicals Division

JK Cement UAE has officially launched its JK Profix Construction Chemicals division, marking a major step in the company’s expansion beyond traditional cement and building materials in the UAE...

OPEC+ Keeps October Oil Output Quota Unchanged From September

OPEC+ has decided to keep its October 2026 oil production levels unchanged from September, pausing further increases after six consecutive months of output hikes....

ROX Begins ADAMAS Vehicle Production in Abu Dhabi, Boosting UAE’s Automotive Ambitions

Abu Dhabi has taken another step toward strengthening its position as a regional automotive manufacturing hub after Chinese automaker ROX began local production of its ADAMAS vehicles....

Gateway 2040 Brings US Residency-Linked Investment Opportunity to Dubai

A new U.S. infrastructure investment opportunity is being presented to investors in Dubai, combining a proposed Orlando development with a potential pathway to permanent U.S. residency through the EB-...

Kuwait Tightens Anti-Money Laundering Rules for Gold and Real Estate

Kuwait has introduced tougher anti-money laundering and counter-terrorist financing requirements for businesses operating in the gold, precious metals and real estate sectors....