Business
ZAWYA-PRESSR: Parkin delivers record annual and quarterly revenues
ZAWYA-PRESSR: Parkin delivers record annual and quarterly revenues
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 fourth quarter and the full year ended 31 December 2025.Key Takeaways: Q4 2025 vs. Q4 2024• Total revenues of AED 389.4 million (+47%)• EBITDA of AED 232.9 million (+47%), EBITDA margin of 60% maintained• Net profit of AED 183.6 million (+53%)• Total net addition of c.22.6k new spaces across entire parking portfolio (+11%)• Total parking transactions of 37.0 million (+0.3%)• Average public parking utilisation rate of 23.0% (-5 p.p.)• Total public parking seasonal card sales of 89.3k (+140%)Subject to shareholder approval, a cash dividend of AED 343.7 million for H2 2025 will be paid in late April 2026 (+22%).Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented: “We closed 2025 with a strong quarter, converting disciplined execution into higher earnings. As in prior periods, we continued to expand our operational footprint, adding both public and developer parking spaces to our portfolio, supported by Dubai’s status as a world class place to live, work, visit and invest. Seasonal card sales reached record highs as customers continued to recognise the relative value offered by this product. Total transaction volumes were broadly in line with the same period last year, while utilisation moderated as expected, reflecting a greater mix of seasonal card users, as well as the addition of new parking space capacity. We also benefited from the implementation of the variable parking tariff earlier in the year. On the enforcement front, we continued to leverage our technology enabled smart scan car inspection fleet, with targeted, data-driven field inspector deployment reinforcing compliance across the network. I am pleased to report that these combined operational drivers delivered record revenue, EBITDA and net income in the fourth quarter and for the year ended 31 December 2025.”Q4 2025 Operational PerformanceTotal Active Parking SpacesThe total number of parking spaces as at the end of Q4 amounted to 229.0k, a 11% increase compared to Q4 2024 (206.4k). This growth was driven by additions across our entire portfolio including public, developer and multi-storey parking facilities.Public ParkingPublic parking spaces increased by 9.2k (+5%), to 193.2k spaces in Q4 2025 (Q4 2024: 18...