Parkin Company (PARKIN) Q3 2025 earnings summary

Executive summary

• Q3 2025 delivered record results with revenue up 43% to AED 343.3 million, EBITDA up 36% to AED 199.8 million, and net profit up 50% to AED 157.0 million year-over-year.

• Paid parking spaces increased by 6% to 219,000, with seasonal card sales surging 126% to 81,000.

• Enforcement notices issued rose 63% to 682,000, reflecting expanded operations and technology upgrades.

• The group operates Dubai's public parking under a 49-year concession agreement with RTA, collecting fees and managing facilities.

• IPO completed in March 2024, with 24.99% of shares sold; 75.01% remains with Dubai Investment Fund.

Financial highlights

• Revenue for nine months ended 30 September 2025 was AED 922.7 million, up 41% year-over-year from AED 654.8 million.

• Net profit after tax for nine months was AED 441.9 million, up 46% from AED 303.5 million year-over-year.

• Free cash flow to equity for Q3 2025 was AED 433.4 million, with a 99% cash conversion rate.

• Operating expenses rose 55% to AED 143.5 million, reflecting business growth.

• Dividend payments totaling AED 592.9 million in 2025.

Outlook and guidance

• FY 2025 public parking revenue is guided at AED 520–550 million, with 100% of the portfolio under variable pricing.

• Enforcement revenue guidance for FY 2025 increased to AED 360–390 million, up from previous estimates.

• Management recognized a provision for a probable increase in variable concession fees, expected to range from 20% to 27.5% of revenue from April 2025.

• Moderate seasonality noted, with lower activity in summer months; results for any quarter may not indicate full-year performance.

• Continued focus on innovation, operational expansion, and smart mobility partnerships.