Financial Statements for the 1st QTR of 2026

Parkin Company P.J.S.C. reported a 36% year-on-year increase in net profit to AED 185.1 million for the three-month period ended March 31, 2026, driven by robust expansion in its core parking operations.
Total revenue rose 41% to AED 379.4 million, supported by a sharp increase in enforcement income to AED 119.7 million and a 66% growth in developer parking fees as the company expanded its managed parking footprint in Dubai.
Operating profit reached AED 212.0 million despite a significant rise in concession fee expenses, which climbed to AED 57.9 million due to higher parking revenues and an additional AED 14.1 million provision for an anticipated tariff-linked fee revision.
The company declared a dividend of AED 343.7 million (11.46 fils per share) during the quarter and notably early-adopted IFRS 18 to provide a more structured categorization of operating, investing, and financing performances.