Swvl Holdings Corp · NASDAQ:SWVL
Swvl — H1 2026 Earnings Presentation
26 slides from Swvl's earnings presentation, Oct 18, 2026
Slide 1: Investor Update H1 2026
Investor Update HI 2026 SWVL
Slide 2: Disclaimer
Disclaimer This presentation may contain “forward-looking statements” which include, but are not limited to, statements regarding future events and other statements that are not historical facts. Forward-looking statements are generally accompanied by words such as “believe,” “may,” “will,” “estimat
Slide 3: Business at a Glance
Business at a Glance One platform, complete control, measurable ROI — route-optimization software (SaaS) paired with end-to-end managed mobility (MaaS). Delivery Model Platform Capabilities AI & Network Mobility Safety, Compliance Software (SaaS) Intelligence Interface Suite & Monitoring Route desig
Slide 4: H1 2026: results
H1 2026: results Six months ended June 30 2026, versus, June 30 2025 Compounding revenue growth with improving operating Margin. Swvl grew revenue by 59% in H1 2026 over H1 2025, with Dollar Pegged Revenue reaching 44% of total revenue. Revenue Gross Operating Growth Profit Loss 59% 35% $0.57M Reven
Slide 5: Financial Performance
Financial Performance Revenue Gross Profit 59% 35% $16.22M $2.95M 26% $2.19M 26% $10.19M $1.74M $8.07M H1'24 H1'25 H1'26 H1'24 H1'25 H1'26 4/ SWVL Holdings Corp | NASDAQ: SWVL | H1 2026 Update
Slide 6: Higher Quality of Revenue: Recurring vs Transactional
Higher Quality of Revenue: Recurring vs Transactional Recurring Contract- 26% 15% 12% Based Revenue Focus 85% 88% 74% Swvl’s recurring revenue comes in the form of enterprise contracts that usually range from 1 to 5 years. By prioritizing recurring revenue over transactional revenue, Swvl aims to se
Slide 7: Higher Quality of Revenue: Dollar Pegged Revenue
Higher Quality of Revenue: Dollar Pegged Revenue Dollar-Pegged Dollar-Pegged Revenue as a Percentage of Total Revenue Revenue Focus 44% Swvl continues to focus on dollar pegged revenue across its operating geographies. 34% In H1 2026 our dollar pegged revenue as a share of total revenue reached 44%,
Slide 8: Revenue Bridge
Revenue Bridge Revenue walk, H1'25 → H1'26 ($ millions) +$3.68M $16.22M GCC delivered +$2.35M $10.19M 61% of the growth (+$3.68M, +107% YoY Growth) Egypt delivered 39% of the growth (+$2.35M, +35% YoY Growth) H1'25 Egypt GCC H1'26 Revenue Revenue 7/ SWVL Holdings Corp | NASDAQ: SWVL | H1 2026 Update
Slide 9: Cost Structure & OpEx Efficiency
Cost Structure & OpEx Efficiency Swvl’s operating leverage allows it to grow revenue faster than opex. During the last three half-year results, operating expenses as a percentage of revenue has dropped from 67.7%, to 28.6%, to 25%. ● OpEx % of revenue 67.7% 28.6% 25.0% $16.22M $10.19M $8.07M $5.46M
Slide 10: From Revenue to Operating Result
From Revenue to Operating Result H1 2026 income statement bridge ($ millions) $16.22M −$13.28M Approximately 50% pertain to supplier discounts/waivers on cost of goods sold; and the remaining generated from rental income. $2.95M -$4.29M GM 18.2% +$0.78M -$0.57M Revenue Cost of Sales Gross Profit Exp
Slide 11: Cash Flow from Operations
Cash Flow from Operations Net cash used in operating activities, what drove H1'26 ($ millions) H1'26 operating cash flow build-up Cash Flow Analysis -$2.02M $0.38M -$0.14M -$1.96M -$0.52M Operating cash flow before working capital was close to breakeven at -$0.14M; with changes in working capital (p
Slide 12: Gross Margin Walk
Gross Margin Walk Gross margin H1'25 → H1'26 Gross Margin 21.5% 0.8pp −0.4pp −3.7pp Analysis 18.2% GCC contribution to group margin reduced by 3.7 percentage points while revenue grew 107%. While Egypt’s contribution to group margin reduced by 0.4pp while revenue grew 35%. The reduction in GCC is ma
Slide 13: Liquidity
Liquidity Cash bridge, 31 Dec 2025 → 30 Jun 2026 → post-period financing ($ millions) Cash Analysis +$14.50M $16.59M During H1 2026, the business used approximately $2.02 million of cash in operations, primarily driven by an increase in receivables in our UAE market and an overall increase in receiv
Slide 14: Geography deep dive
Geography deep dive 13/ SWVL Holdings Corp | NASDAQ: SWVL | H1 2026 Update
Slide 15: Revenue by Geographical Location
Revenue by Geographical Location H1'25 H1'26 $6.75M $9.10M 35% Egypt $3.44M $7.12M 107% GCC Total $10.19M $16.22M 59% 14/ SWVL Holdings Corp | NASDAQ: SWVL | H1 2026 Update GCC: Gulf Cooperation Council
Slide 16: Commercial Highlights | Egypt
Commercial Highlights | Egypt Market Revenue Gross Profit Highlight 35% $9.10M Egypt revenue +35% YoY from $6.75M to $9.10M. Gross profit grew by 29%, expanding from $6.75M 29% $1.28M to $1.65M. $1.65M Swvl continued to deepen its footprint in Egypt, the $1.28M company's most mature market, through
Slide 17: Commercial Highlights | GCC
Commercial Highlights | GCC Market Revenue Gross Profit Highlight 107% $7.12M The GCC market delivered exceptional 42% growth in H1 2026, with revenue growing $1.29M 107% YoY from $3.44M to $7.12M. Gross profit increased by 42% growing from $0.91M to $1.29M. $0.91M While overall gross profit increas
Slide 18: Appendix 1: Statement of comprehensive profit or loss
Appendix 1: Condensed interim consolidated statement of comprehensive profit or loss Jun 30, 2026 Jun 30, 2025 Continuing operations Revenue 16,223,166 10,189,069 Cost of sales (13,277,164) (8,000,885) Gross income 2,946,002 2,188,184 General and administrative expenses (3,737,461) (2,898,277) Selli
Slide 19: Appendix 1: Statement of comprehensive profit or loss (continued)
Appendix 1: Condensed interim consolidated statement of comprehensive profit or loss Continued Jun 30, 2026 Jun 30, 2025 Discontinued operations Profit/(loss) for the period from discontinued operations — — (Loss)/profit for the period (520,182) 432,200 Attributable to: Equity holders of the Parent
Slide 20: Appendix 2: Statement of financial position
Appendix 2: Condensed interim consolidated statement of financial position At 30 June 2026 At 31 December 2025 ASSETS Non-current assets Property and equipment 219,796 281,312 Intangible assets 939,055 684,441 Right-of-use assets 978,452 1,110,717 Deferred tax assets 5,309,288 5,486,804 7,446,591 7,
Slide 21: Appendix 2: Statement of financial position (continued)
Appendix 2: Condensed interim consolidated statement of financial position Continued At 30 June 2026 At 31 December 2025 EQUITY Share capital 24,910 24,910 Share premium 354,179,329 354,179,329 Employee share scheme reserve 730,488 661,495 Foreign currency translation reserve (16,505,273) (16,247,13
Slide 22: Appendix 2: Statement of financial position (continued)
Appendix 2: Condensed interim consolidated statement of financial position Continued At 30 June 2026 At 31 December 2025 LIABILITIES Non-current liabilities Provision for employees' end of service benefits 180,279 145,681 Derivative warrant liabilities 223,994 400,806 Accounts payable, accruals and
Slide 23: Appendix 3: Statement of cash flows
Appendix 3: Condensed interim consolidated statement of cash flows Jun 30, 2026 Jun 30, 2025 (Loss)/profit before tax from continued operations (520,182) 432,200 Profit before tax from discontinued operations — — (Loss)/profit for the period before tax (520,182) 432,200 Adjustments to reconcile prof
Slide 24: Appendix 3: Statement of cash flows (continued)
Appendix 3: Condensed interim consolidated statement of cash flows Continued Jun 30, 2026 Jun 30, 2025 Cash flows from investing activities Development expenditure (intangible assets) (273,499) — Purchase of property and equipment (13,581) (2,950) Net cash flows used in investing activities (287,080
Slide 25: Definitions
Definitions Term Definition Dollar-Pegged Revenue Revenue generated in currencies pegged to the US Dollar, i.e. all revenue generated outside Egypt. Egypt (EGP) revenue is non-dollar-pegged. Dollar-Pegged Revenue % Dollar-Pegged Revenue as a percentage of total revenue for the period. Recurring Reve
Slide 26: SWVL
SWVL