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Discontinued operations | 12 Months Ended
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Dec. 31, 2025
Discontinued operations |
Discontinued operations |
30 | Discontinued operations
According to the guidance provided by IFRS 5 “Non-current Assets Held for Sale and Discontinued Operations”, the assets and liabilities associated with those subsidiaries whose operations were discontinued have been presented as held for sale in the consolidated financial statements. The results, major classes of assets and liabilities, and net cash flows of these subsidiaries are presented below. ​
​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
ASSETS |  | ​ |  | ​
Current assets |  | ​ |  | ​
Cash and cash equivalents |  | — |  | 1,522
Total assets classified as held for sale |  | — |  | 1,522
​ | ​ | ​ | ​ | ​
LIABILITIES |  | ​ |  | ​
Current liabilities |  | ​ |  | ​
Interest-bearing loans |  | 1,258,387 |  | 1,171,546
Accounts payable, accruals and other payables |  | 2,746,781 |  | 2,754,019
Total liabilities classified as held for sale |  | 4,005,168 |  | 3,925,565
Net assets directly associated with assets classified as held for sale |  | (4,005,168) |  | (3,924,043)
​
30 | Discontinued operations (continued)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Results for the year from discontinued operations |  | ​ |  | ​ |  | ​
Revenue |  | — | ​ | — | ​ | 13,354,491
Cost of sales |  | — | ​ | — | ​ | (10,638,283)
Gross income from discontinued operations |  | — | ​ | — | ​ | 2,716,208
​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative expenses |  | (1,534) | ​ | (536,383) | ​ | (3,509,132)
Selling and marketing expenses |  | — | ​ | — | ​ | (1,023,741)
Other income, net |  | — | ​ | 254,059 | ​ | 80,842
Operating loss from discontinued operations |  | (1,534) | ​ | (282,324) | ​ | (1,735,823)
​ | ​ | ​ | ​ | ​ | ​ | ​
Gain/(loss) on disposal of subsidiaries |  | — | ​ | 1,126,100 | ​ | (8,285,250)
Finance cost, net |  | — | ​ | (48,407) | ​ | (55,217)
Profit/(loss) before tax from discontinued operations |  | (1,534) | ​ | 795,369 | ​ | (10,076,290)
​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax benefit |  | — | ​ | — | ​ | —
Profit/(loss) for the year from discontinued operations |  | (1,534) | ​ | 795,369 | ​ | (10,076,290)
​ | ​ | ​ | ​ | ​ | ​ | ​
Attributable to: |  | ​ | ​ | ​ | ​ | ​
Equity holders of the Parent Company |  | (1,534) | ​ | 726,325 | ​ | (10,076,290)
Non-controlling interests |  | — | ​ | 69,044 | ​ | —
​ |  | (1,534) | ​ | 795,369 | ​ | (10,076,290)
​ | ​ | ​ | ​ | ​ | ​ | ​
Profit/(loss) per share |  | ​ | ​ | ​ | ​ | ​
Basic |  | — | ​ | 0.09 | ​ | (1.48)
Diluted |  | — | ​ | 0.09 | ​ | (0.91)
​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flow |  | ​ | ​ | ​ | ​ | ​
Operating |  | (1,534) | ​ | 795,369 | ​ | (10,076,290)
Investing |  | — | ​ | — | ​ | —
Financing |  | — | ​ | — | ​ | —
Net cash flow |  | (1,534) | ​ | 795,369 | ​ | (10,076,290)
​ 30.1. Disposal of subsidiaries During the year 2024, the Group entered into a sale agreement to dispose the subsidiary Swvl Global FZE which carried out operations in the UAE. During the year 2023, the Group entered into multiple sales agreements to dispose the subsidiaries SWVL Pakistan, Voltline, Shotl and Urbvan which carried out the Group’s operations in Pakistan, Turkey, Spain and Mexico respectively. The disposal was effected in order to generate cashflows for the continuity and expansion of the Group’s other businesses and focus on profitable Group entities, the details of each sale was as below. 30.1.1. Swvl Global FZE The disposal was completed on 15 October 2024, on which date full control of Swvl Global FZE was passed to the acquirer. The results of Swvl Global FZE which was included in the discontinued operations for the year are disclosed in the table above. A gain of $1,126,100 arose on the disposal of Swvl Global FZE, being the carrying amount of the subsidiary’s disposed net assets.
30 | Discontinued operations (continued)
30.1. Disposal of subsidiaries (continued) 30.1.2. SWVL Pakistan (private) Ltd. The disposal was completed on 15 April 2023, on which date full control of Pakistan Private ltd. was passed to the acquirer. During 2023 there was no movement included in the discontinued operations as the entity was dormant. A loss of $1,662,132 arose on the disposal of SWVL Pakistan (private) LTD, being the difference between the proceeds of the disposal and the carrying amount of the subsidiary’s net assets and attributable goodwill. 30.1.3. Voltline BV. The disposal was completed on 6 January 2023, on which date full control of Voltline BV. was passed to the acquirer. During 2023 there was no movement included in the discontinued operations as the entity was dormant. A gain of $2,391,487 arose on the disposal of Voltline BV, being the difference between the proceeds of the disposal and the carrying amount of the subsidiary’s net assets and attributable goodwill. 30.1.4. Shotl The disposal was completed on 22 February 2023, on which date full control of Shotl was passed to the acquirer. During 2023 there was no movement included in the discontinued operations as the entity was dormant. A gain of $242,257 arose on the disposal of the entity, being the difference between the proceeds of the disposal and the carrying amount of the subsidiary’s net assets and attributable goodwill. 30.1.5. Urbvan The disposal was completed on 7 September 2023, on which date full control of Urbvan group was passed to the acquirer. The results of Urbvan which was included in the discontinued operations for the year are disclosed in the table above. A loss of $9,256,862 arose on the disposal of Urbvan, being the difference between the proceeds of the disposal and the carrying amount of the subsidiary’s net assets and attributable goodwill. 30.2. Summary of (gain)/loss on disposal groups For the year ended 31 December 2024 ​
​ | ​ | ​
​ | ​ ​ ​ | Swvl Global FZE
Liabilities |  | 1,126,100
Gain on disposal |  | (1,126,100)
​ The major classes of assets and liabilities are detailed as follows: ​
​ | ​ | ​
​ | ​ ​ ​ | Swvl Global FZE
​ | ​ | ​
Accounts payable, accruals and other payables |  | 1,126,100
Total liabilities |  | 1,126,100
​ ​
30 | Discontinued operations (continued)
30.2. Summary of (gain)/loss on disposal groups (continued) For the year ended 31 December 2023 ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Pakistan Private Ltd. | ​ ​ ​ | Voltline BV. | ​ ​ ​ | Shotl | ​ ​ ​ | Urbvan | ​ ​ ​ | Total
Sale consideration |  | (20,000) |  | (5,000,000) |  | (377,829) |  | (9,335,867) |  | (14,733,696)
Foreign currency reserve |  | 1,600,981 |  | 103,808 |  | (58,580) |  | (866,512) |  | 779,697
Non-controlling interest |  | — |  | — |  | 1,152,077 |  | — |  | 1,152,077
Assets |  | 103,834 |  | 4,357,712 |  | — |  | 22,300,011 |  | 26,761,557
Liabilities |  | (22,683) |  | (1,853,007) |  | (957,925) |  | (1,952,619) |  | (4,786,234)
Loss for the year |  | — |  | — |  | — |  | (888,151) |  | (888,151)
(Gain)/loss on disposal |  | 1,662,132 |  | (2,391,487) |  | (242,257) |  | 9,256,862 |  | 8,285,250
​ The major classes of assets and liabilities are detailed as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Pakistan | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Private Ltd. | ​ ​ ​ | Voltline BV. | ​ ​ ​ | Shotl | ​ ​ ​ | Urbvan | ​ ​ ​ | Total
Property and equipment | ​ | — | ​ | 115,310 | ​ | — | ​ | 180,094 | ​ | 295,404
Intangible assets |  | — |  | 2,024,065 |  | — |  | 10,534,278 |  | 12,558,343
Right-of-use assets |  | — |  | 576,299 |  | — |  | 131,516 |  | 707,815
Deferred tax assets |  | — |  | — |  | — |  | 4,241,746 |  | 4,241,746
Trade and other receivables |  | — |  | 690,241 |  | — |  | 6,695,629 |  | 7,385,870
Prepaid expenses and other current assets |  | — |  | 65,347 |  | — |  | 160,523 |  | 225,870
Cash and cash equivalents |  | 103,834 |  | 886,450 |  | — |  | 356,225 |  | 1,346,509
Total assets |  | 103,834 |  | 4,357,712 |  | — |  | 22,300,011 |  | 26,761,557
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest-bearing loans |  | — |  | 407,615 |  | 316,293 |  | — |  | 723,908
Provision for employees’ end of service benefits |  | — |  | — |  | — |  | 267,751 |  | 267,751
Lease liability |  | — |  | 628,845 |  | — |  | 330,563 |  | 959,408
Accounts payable, accruals and other payables |  | 22,683 |  | 816,547 |  | 186,945 |  | 1,354,305 |  | 2,380,480
Loans from a related party |  | — |  | — |  | 454,687 |  | — |  | 454,687
Total liabilities |  | 22,683 |  | 1,853,007 |  | 957,925 |  | 1,952,619 |  | 4,786,234
​
30.3. | Subsidiaries under liquidation
As per the second stage of the portfolio optimization plan, there are no intentions to further develop operations for the below subsidiaries or sell them. Further, since the date of the second stage of the portfolio optimization plan, discussions have been underway to commence the liquidation and winding up process of the subsidiaries.
| ● | Swvl NBO Limited
| ● | Swvl Technologies Ltd.
| ● | Smart Way Transportation LLC
| ● | Swvl MY For Information Technology SDN BHD
| ● | Viapool Inc.
| ● | Swvl Germany GmbH

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