Parkin reported record Q1 2026 financial results, with total revenues increasing 41% year-on-year to AED 384.2 million and net profit rising 36% to AED 185.1 million.
EBITDA grew 31% to AED 231.3 million with a margin of 60%, supported by a 23% expansion in the total parking portfolio to 258.0k spaces and a 51% increase in the weighted average public parking tariff to AED 3.02/hr.
Operational performance was driven by a record 129% increase in seasonal card sales to 100.6k, while total parking transactions declined 5% to 34.7 million due to regional geopolitical factors and an extended holiday period.
The company is currently keeping its FY 2026 revenue guidance under review, with a revised assessment expected alongside Q2 2026 results in August.
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