{"id":81947,"date":"2024-10-28T00:00:00","date_gmt":"2024-10-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/qatars-milaha-and-uaes-easylease-post-earnings\/"},"modified":"2024-10-28T00:00:00","modified_gmt":"2024-10-28T00:00:00","slug":"qatars-milaha-and-uaes-easylease-post-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/28\/qatars-milaha-and-uaes-easylease-post-earnings\/","title":{"rendered":"Qatar\u2019s Milaha and UAE\u2019s EasyLease post earnings"},"content":{"rendered":"

MILAHA- <\/p>\n

Qatar Navigation\u2019s (Milaha) net income rose 5% y-o-y to QAR 917 mn (c. USD 251.7<\/strong> mn) in 9M 2024<\/strong>, according to an earnings release (pdf)<\/a> on the Qatar Stock Exchange. The firm\u2019s operating income dipped 4.4% y-o-y to QAR 2.1 bn during the same period. <\/p>\n

A closer look: <\/strong>Milaha Maritime & Logistics\u2019 bottom line increased by QAR 1 mn, driven by high project income from shipyard operations, while Milaha Gas and Petrochem\u2019s net income increased QAR 31 mn due to strong earnings from associate companies, according to a statement<\/a>. The offshore segment\u2019s net income fell by QAR 22 mn, which the firm attributed to required vessel maintenance and the absence of favorable accounting adjustments recorded in 2023. Milaha Trading and Milaha Capital also saw bottom line gains. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

\n

EASYLEASE-<\/p>\n

EasyLease, a subsidiary of <\/strong>ADX-listed mobility solutions outfit and In<\/strong>ternational Holding <\/strong>Company (IHC), saw its net income dip 4.2% y-o-y to AED 9.7 mn in 3Q 2024<\/strong>, according to a financial statement (pdf)<\/a>. The company\u2019s revenues rose 41.3% to 102.3 mn during the quarter. <\/p>\n

On a nine-month basis: <\/strong>EasyLease\u2019s bottom line increased 5% y-o-y YTD to AED 27.9 mn in 9M 2024, while the firm\u2019s revenues rose 37.9% y\u2013o-y to 292 mn.<\/p>\n

EasyLease has been on an expansion spree this year: <\/strong>EasyLease acquired a 51% stake<\/a> in Dubai-based Ghassan Aboud Group\u2019s multi-sector logistics services provider Gallega Global Logistics for an undisclosed sum. The firm also acquired a 60% stake in UAE-based Alserkal Group subsidiary and transportation technology solutions provider United Trans back in April<\/a>. It also snapped up a 60% stake in Ripe last December<\/a>, which offers various services including container and commercial kiosk rentals. That same month, it acquired a 60% stake<\/a> in UAE-based electric charger manufacturing and installation company Fully Charged to increase decarbonization in last-mile delivery across the UAE and the region.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm\u2019s topline dipped to QAR 2.13 bn<\/p>\n","protected":false},"author":1,"featured_media":81948,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[174,153,121,123,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-qatar","tag-rail","tag-shipping-maritime","tag-uae","wpautop","entry"],"acf":{"mongo_id":"dcfd6a3d-03d2-44cc-ad78-8e5455f6deaf","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/718.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Qatar\u2019s Milaha and UAE\u2019s EasyLease post earnings","related_issue":[81935],"teaser":"The firm\u2019s topline dipped to QAR 2.13 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.5b2d80ba-c407-4b94-992e-f4353ec77b05.mp3"},"yoast_head":"\nQatar\u2019s Milaha and UAE\u2019s EasyLease post earnings - 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