Parkin Company (PARKIN) Q2 2025 earnings summary

Executive summary

• Q2 2025 delivered record results with revenue and net profit both up 56% year-over-year to AED 320.0 million and AED 148.4 million, respectively, driven by variable tariff implementation, higher transaction volumes, and a surge in seasonal card sales.

• EBITDA rose 41% to AED 189.3 million, with free cash flow to equity up 56% to AED 312.0 million and a 98% cash conversion rate.

• Added 11.1k new parking spaces (+6%), with total parking transactions up 15% to 33.2 million and seasonal card sales up 140% to 70.9k.

• Maintained FY 2025 guidance, expecting revenue at the upper end of the previously guided range.

Financial highlights

• Q2 2025 revenue: AED 320.0 million (+56% YoY); EBITDA: AED 189.3 million (+41% YoY), margin 59%; net profit: AED 148.4 million (+56% YoY).

• Free cash flow to equity: AED 312.0 million (+130% YoY); cash conversion rate: 98%.

• Operating expenses increased to AED 130.6 million, mainly due to higher headcount and marketing costs.

• EBITDA margin declined from 65% to 59% year-over-year.

• Basic and diluted EPS: AED 0.05 for Q2 2025 (AED 0.03 in Q2 2024).

Outlook and guidance

• FY 2025 revenue expected at the upper end of guidance; public parking revenue forecasted at AED 520–550 million.

• Enforcement revenues projected at AED 275–305 million for FY 2025.

• Company targets FY 2025 headcount of approximately 380, reflecting ongoing expansion.

• Anticipates 3k–4k new public parking spaces and 2.5k developer spaces to be added in H2 2025.

• Forward-looking statements caution that results may vary due to economic and strategic factors.