Parkin Company (PARKIN) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 14% year-over-year to AED 364.1 million, EBITDA up 15% to AED 217.2 million, and net profit up 12% to AED 166.2 million, driven by portfolio expansion and strong demand for seasonal cards and developer parking.

• For the six months ended 30 June 2026, revenue was AED 748.3 million, up 26% year-over-year, and net profit was AED 351.4 million, up 23%.

• Paid parking spaces increased 27% to 268.3k, with developer parking more than tripling to 61.5k spaces.

• Seasonal card sales surged 38% year-over-year, reaching 97.5k cards.

• The company operates under a 49-year concession agreement as the exclusive public parking operator in Dubai.

Financial highlights

• H1 2026 revenue grew 26% year-over-year to AED 748.3 million; EBITDA margin held at 60%.

• EBITDA for the six months reached AED 448.5 million, with Q2 2026 EBITDA at AED 217.2 million.

• Net profit for H1 2026 was AED 351.4 million, up 23% year-over-year.

• Free cash flow to equity for Q2 2026 was AED 341.8 million, with a 96% cash conversion rate.

• Dividend of AED 343.7 million (11.46 fils/share) was declared and paid during the period.

Outlook and guidance

• FY 2026 revenue guidance for public parking revised to AED 510–550 million, with seasonal card revenue guidance raised to AED 280–300 million and developer parking expected at AED 130–150 million.

• Enforcement revenue for 2026 is guided at AED 420–460 million.

• Additional 3.5k–5.0k parking spaces planned for H2 2026.

• Capital expenditure for 2026 expected at AED 45–55 million, supporting technology upgrades and developer contracts.

• Management notes moderate seasonality, with revenue and earnings typically lower during summer months.