{"id":91434,"date":"2024-04-29T00:00:00","date_gmt":"2024-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/easylease-and-apex-report-1q-2024-earnings\/"},"modified":"2024-04-29T00:00:00","modified_gmt":"2024-04-29T00:00:00","slug":"easylease-and-apex-report-1q-2024-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/","title":{"rendered":"EasyLease and Apex report 1Q 2024 earnings"},"content":{"rendered":"

EasyLease\u2019s bottom line after tax more than doubled y-o-y to AED 13 mn in 1Q 2024<\/strong>, <\/strong>according to the company\u2019s earnings release (pdf)<\/a>. Growth came on the back of \u201cenhanced operational efficiencies and strategic positioning in high-growth mobility sectors,\u201d including the company snagging a 60% stake<\/a> in Alserkal Group<\/a> subsidiary and transportation technology solutions provider United Trans<\/a>. The company\u2019s revenues grew 38.6% y-o-y to AED 97.4 mn.<\/p>\n

Looking ahead: <\/strong>The UAE-based International Holding Company<\/a> subsidiary and integrated mobility solutions provider is targeting organic growth through strategic acquisitions and new technologies to fuel expansion and strengthen its market position.<\/p>\n

\n

Apex turns to the black in 1Q: <\/strong>Abu Dhabi-based holding company Apex Investment<\/a> turned profitable in 1Q 2024, turning in AED 4.27 mn in net income, compared to a net loss of AED 190 mn in the same period last year, according to the company\u2019s financial statements (pdf)<\/a>. The firm\u2019s revenues climbed 32% y-o-y to AED 195 mn for the first three months of the year.<\/p>\n

REFRESHER-<\/strong> Apex Investment incurred a net loss of AED 58.4 mn<\/a> in 2023 due to losses on its financial assets. <\/p>\n

\n

Al Masraf finished 2023 on a high note:<\/strong> The Arab Bank for Investment & Foreign Trade<\/a> (Al Masraf) reported a 43% y-o-y increase in net income to AED 189 mn in 2023, according to the lender\u2019s financial statements (pdf)<\/a>. The bank attributed income growth to \u201cimproved operating performance on the back of a favorable asset and liability mix and higher interest rates,\u201d an earnings release<\/a> reads. The bank\u2019s net operating income climbed 20% y-o-y to AED 904 mn during the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"

EasyLease\u2019s total revenue stood at AED 97.4 mn, up 38.6% y-o-y<\/p>\n","protected":false},"author":1,"featured_media":91435,"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":[1596],"tags":[1662,728,1406,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-al-masraf","tag-apex-investment","tag-easylease","tag-international-holding-company","wpautop","entry"],"acf":{"mongo_id":"62854633-820e-46f1-8143-dbd0057c0cbe","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1637.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EasyLease and Apex report 1Q 2024 earnings. PLUS: Al Masraf reports 2023 earnings","related_issue":[91419],"teaser":"EasyLease\u2019s total revenue stood at AED 97.4 mn, up 38.6% y-o-y","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.0c3a2ffc-69b2-400d-ab96-71bf0fc86d23.mp3"},"yoast_head":"\nEasyLease and Apex report 1Q 2024 earnings - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EasyLease and Apex report 1Q 2024 earnings\" \/>\n<meta property=\"og:description\" content=\"EasyLease\u2019s total revenue stood at AED 97.4 mn, up 38.6% y-o-y\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-29T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1637.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EasyLease and Apex report 1Q 2024 earnings\",\"datePublished\":\"2024-04-29T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/\"},\"wordCount\":261,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1637.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Al Masraf\",\"Apex Investment\",\"EasyLease\",\"International Holding Company\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/04\/29\/easylease-and-apex-report-1q-2024-earnings\/\",\"name\":\"EasyLease and Apex report 1Q 2024 earnings - 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