Abu dhabi: EasyLease, a subsidiary of IHC, has reported a substantial net profit of AED20.7 million for the first quarter ending 31st March 2026, marking a significant 98 percent increase from AED10.4 million in Q1 2025. This growth is attributed to the robust performance of its core business and logistics operations.
According to Emirates News Agency, the rise in net profit is a result of a favorable business mix and enhanced operating leverage across the Group. EasyLease's highest performing core businesses and logistics have made stronger contributions, coupled with disciplined cost management.
The company saw a 14 percent year-on-year increase in revenue, reaching AED189.7 million, driven by sustained demand across its core businesses, logistics, and delivery-linked operations. Gross profit rose by 41 percent year-on-year to AED55.6 million, while operating profit increased by 72 percent year-on-year to AED28.3 million, as revenue growth outpaced the increase in the Group's fixed cost base.
EBITDA also showed a significant rise of 55 percent year-on-year, reaching AED54.7 million. This reflects improved asset productivity, higher utilization levels, and ongoing cost discipline across the portfolio. CEO Ahmad Al Sadah remarked that the results indicate a strong start to the year, emphasizing disciplined growth, operating leverage, and fleet optimization.
Core businesses remained the major contributors to the Group's revenue and profitability in Q1 2026, supported by fleet expansion, strong utilization levels, and the essential nature of the service for delivery and mobility customers. EasyLease's logistics and supply chain platform, Gallega Group Holding, continued to grow despite a mixed operating backdrop, aided by expansion in warehousing, yard capacity, and land transport services.
The Group's delivery-linked operations showed resilience, with steady demand from corporate customers, despite softer conditions in certain discretionary and event-linked activities. EasyLease's core mobility and logistics businesses continued to underpin the overall Group performance.
EasyLease is advancing several technology and digital initiatives to enhance fleet visibility, workflow efficiency, and operational governance. These initiatives aim to improve asset utilization, control environments, and operational consistency, contributing to a better customer experience over time.