ABU DHABI: EasyLease, a prominent player in the UAE's mobility solutions market and a subsidiary of International Holding Company (IHC), has reported substantial financial results for the first nine months of 2024, achieving revenues of AED 292 million. This represents a notable 38 percent year-over-year growth, driven largely by increased demand in the mobility and logistics sectors. According to Emirates News Agency, the company's operational profit for the year-to-date rose to AED 32.7 million, reflecting a 47.2 percent year-over-year increase. This growth is attributed to operational efficiency and a steady expansion in the market. Additionally, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to AED 77.5 million from AED 51.0 million in 2023, highlighting EasyLease's focus on enhancing shareholder value and its operational strength. The net profit after tax for the year-to-date in 2024 stands at AED 27.9 million, a 5 percent increase over the AED 26.5 million reported in 2023. While this growth is positive, it reflects the company's strategic investments in new business lines over the past two years. EasyLease has also made significant strides in regional expansion, entering markets in Saudi Arabia and Bahrain, and launching new ventures in vehicle rental, limousine, and recovery services sectors. Excluding these new ventures, the company's core operations saw a net profit after tax growth of 15 percent year-over-year, underscoring its strong and sustainable growth trajectory. Ahmad Al Sadah, CEO of EasyLease, emphasized the company's leading role in the UAE's evolving mobility sector. He stated, "Easy Lease is leading the charge in the UAE's rapidly growing mobility sector, where demand for mobility solutions and last-mile logistics continues to surge. Our strategy of investing in technology and innovation enables us to stay ahead of the curve, and we are confident this approach will deliver substantial returns over the medium to long term." Al Sadah further commented o n the company's strategic direction, noting that EasyLease views itself as a dynamic ecosystem in the mobility and logistics sectors, open to strategic investments, and focused on leveraging advanced technologies and AI-driven solutions to maintain its leadership.