Business
PRESSR: Parkin reports record quarterly results, reflecting strong Operational momentum
PRESSR: Parkin reports record quarterly results, reflecting strong Operational momentum
About this update from Parkin Co. Pjsc
Parkin Company PJSC (“Parkin” or the “Company”), the largest provider of paid public parking facilities and services in Dubai, today reports its operational and financial results for the third quarter ended 30 September 2025.Key Takeaways: Q3 2025 vs. Q3 2024• Total revenues of AED 343.3 million (+43%)• EBITDA of AED 199.8 million (+36%), with an EBITDA margin of 58%• Net profit of AED 157.0 million (+50%)• Total net addition of c.11.7k new spaces across entire parking portfolio (+6%)• Total parking transactions of 34.1 million (+0.4%)• Average public parking utilisation rate of 21.3% (-5.1 p.p.)• Total public parking seasonal card sales of 81.0k (+126%)• FY 2025 revenue guidance revised upwardsEng. Mohamed Abdulla Al Ali, CEO of Parkin, commented:“We continued to execute our strategy with discipline and focus in Q3, delivering another strong set of financial and operational results. Total revenues rose 43% to AED 343.3 million, driven by the successful implementation of the variable parking tariff, expansion of our operational footprint, sustained transaction volumes, record seasonal card sales and robust enforcement proceeds. This strong performance translated into a 36% increase in EBITDA to AED 199.8 million and a 50% rise in net income to AED 157.0 million.Beyond the financial results, we advanced key strategic initiatives. During the quarter, we signed several contracts to grow our developer parking portfolio and partnered with CAFU to launch the region’s first on-demand fuel and car wash service across our parking network, a milestone that underscores our commitment to innovation and customer convenience.We expect these initiatives to contribute to our revenue growth in the coming quarters, reinforcing Parkin’s position as a leader in smart mobility solutions.”Q3 2025 Operational PerformanceTotal Active Parking SpacesThe total number of parking spaces as at the end of Q3 amounted to 219.0k, a 6% increase compared to Q3 2024 (207.3k). This growth was driven by additions to our public and multi-storey car parking portfolio, partially offset by a slight decline in developer spaces.Public ParkingPublic parking spaces increased by 12.5k (+7%), to 192.1k spaces in Q3 2025 (Q3 2024: 179.6k). In terms of new additions, zone C (on-street parking) saw the largest increase with 7.8k spaces added, while zone D (off-street parking) benefited from the addition o...