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Swvl Holdings Corp (NASDAQ: SWVL) is a leading technology-driven mobility company that aims to enhance mass transit with its innovative and environmentally friendly solutions. Swvl's core business focuses on providing reliable, safe, and cost-effective transportation options through a network of minibuses and other vehicles operating on fixed or semi-fixed routes within urban areas. This service is primarily accessed via the Swvl mobile app, which allows commuters to book rides between pre-defined pick-up and drop-off points throughout the city.
Swvl is not just limited to B2C offerings; it also delivers transformative tech-enabled mass transit solutions on a global scale, encompassing intercity, intracity, B2B, and B2G transportation. These services offer a semi-private alternative to traditional public transportation, particularly for individuals who cannot afford or access private transport. Swvl's platform ensures that mobility is more efficient, accessible, and environmentally friendly, empowering millions to travel safely and conveniently.
Recent achievements highlight Swvl's continuous growth and strategic moves. In July 2023, Swvl received approval from the Nasdaq Stock Market to transfer its listing to the Nasdaq Capital Market, ensuring compliance with financial and corporate governance standards. This move is set to facilitate Swvl's strategic expansions and market positioning.
Moreover, Swvl's strategic sale of Urbvan to Kolors marks a significant step in Swvl's vision for profitable growth. This transaction is expected to accelerate Swvl's expansion plans in high-priority markets, enhancing its global footprint.
Financially, Swvl has reported positive operating cash flow and net profit in the first half of 2023, showcasing the company's robust financial health and growth trajectory. The company has also secured significant contracts with notable corporations such as Holiday Inn Hotel, Siemens in Saudi Arabia, and Bosch in Egypt, further cementing its reputation as a trusted mobility solutions provider.
For more detailed information about Swvl Holdings Corp, visit www.swvl.com.
Swvl Holdings Corp (Nasdaq: SWVL), a global technology provider for enterprise and government mobility solutions, has announced the successful closure of key sales with Holiday Inn and Siemens in Saudi Arabia, and Bosch in Egypt. This development is part of Swvl’s strategy to resume growth by expanding its client base across the GCC and North Africa, specifically targeting profitable markets such as Saudi Arabia and Egypt. CEO Mostafa Kandil emphasized that these partnerships are important steps towards Swvl's goal of transforming the mobility industry, enhancing efficiency, accessibility, and sustainability. These collaborations affirm Swvl's commitment to profitable growth and strategic business development.
Swvl Holdings Corp reported a $3.1 million net profit, 13% net margin, and an eightfold growth in gross profit for the fiscal year 2023. The company achieved cash flow positivity, no debt, and more than doubled its equity value compared to 2022. Swvl transitioned to profitability, emphasizing financial stability, operational efficiency, and profitability strategies. The CEO highlighted the team's dedication, innovation plans, product launches, and strategic partnerships in the upcoming year. Swvl aims to improve profitability, resume growth, and expand into high-revenue markets.
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