Parkin Company (PARKIN) Q4 2025 earnings summary

Executive summary

• Q4 2025 and FY 2025 achieved record revenue, EBITDA, and net profit, with Q4 revenue up 47%, EBITDA up 47%, and net profit up 53% year-over-year, driven by operational expansion and tariff changes.

• Added approximately 22.6k new parking spaces (+11%) year-over-year, expanding both public and developer portfolios.

• Seasonal card sales surged 140% in Q4 2025, reflecting strong customer uptake and favorable pricing.

• Enforcement activity and developer parking transactions both increased, with fines issued up 59% and smart scan inspections up 154% year-over-year.

• Enforcement and developer parking growth supported top-line performance.

Financial highlights

• Q4 2025 revenue reached AED 389.4m, EBITDA AED 232.9m, and net profit AED 183.6m, all up significantly from Q4 2024; FY 2025 revenue totaled AED 1,326.0m, up 43% from FY 2024.

• Q4 2025 EBITDA margin remained strong at 60%; FY 2025 margin at 60% (down 2 p.p. year-over-year).

• Free cash flow to equity in Q4 2025 was AED 222.3m with a 99% cash conversion rate.

• Dividend for H2 2025 proposed at AED 343.7m (+22% year-over-year), with interim dividend of AED 312.0m paid in October 2025.

Outlook and guidance

• FY 2026 revenue guidance: public parking AED 460–610m, enforcement AED 40–460m, seasonal cards AED 260–280m, developer parking AED 110–130m.

• Guidance excludes potential impact from proposed tariff and seasonal card pricing revisions under review.

• 5,500–7,500 new public spaces expected in 2026, with continued portfolio expansion.

• Capital expenditure projected at AED 45–55m for 2026, focused on technology and developer contracts.

• Tariff revision proposal submitted to RTA in February 2026, aiming to adjust seasonal card and public parking tariffs.