Dubai Taxi Company PJSC

Logotype for Dubai Taxi Company PJSC
Ticker/ISIN
DTC
AEE01356D236
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
2.46 AED
2024-10-04

Year to date

0.15 %

3 months

0.13 %

6 months

0.09 %

1 year

0.00 %

3 years

0.00 %

5 years

0.00 %

The Company is a leading provider of comprehensive mobility solutions in Dubai. With an approximately 44% market share (by size of taxi fleet) as at 30 June 2023 according to the Industry Consultant, it is currently the number one taxi operator in Dubai, with its next largest taxi competitor having only a 22% market share. Having been established as a taxi company in 1994, with operations starting in 1995 with only 81 taxi cars, the Company has since expanded to other mobility businesses by leveraging its dominant leadership in the taxi sector and operational strength. It offers an extensive range of transportation solutions across its four key business lines, including taxi services through its large, eco-friendly fleet; VIP limousine services made up of chauffeur-driven vehicles for luxury service; its bus services; and its last mile delivery bike services. Between 1 July 2022 and 30 June 2023, the Company's taxis and limousines made 44 million trips, 42 million of which were taxi trips. Across its business lines, as at 30 June 2023, the Company operated more than 7,000 vehicles (of which 5,216 were taxis).

Company's Activities are detailed in AOA and Listing Prospectus.

Latest Pressrelease Summaries

Date: 01/10/2024 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, United Arab Emirates Subject: Notification of Issuance of a Board Resolution by Circulation – Dubai Taxi Company P.J.S.C. The Board of Directors of Dubai Taxi Company P.J.S.C. will issue a Board Resolution by Circulation on 04/10/2024. This resolution pertains to the approval of internal matters that will not impact the company's share price. Best Regards, Vicken Khochafian Board Secretary & Governance Director cc: Securities and Commodities Authority
Dubai Taxi Company (DTC) has been awarded 300 new plates by Dubai's Roads and Transport Authority, increasing its market share to 46% and expanding its fleet to nearly 6,000 vehicles. This expansion is expected to generate an additional annual revenue of AED 100 million. The company aims to meet the growing demand for transport in Dubai, driven by population and economic growth. CEO Mansoor Rahma Al Falasi highlighted that the fleet has grown by approximately 10% in 2024, reaching nearly 9,000 vehicles across various segments. This move aligns with DTC's strategy of fleet expansion and enhancing shareholder value.
Date: September 04, 2024 To: Mr. Hamed Ahmed Ali Chief Executive Officer Dubai Financial Market Dubai, United Arab Emirates Subject: Board Meeting Results - Dubai Taxi Company P.J.S.C. - The “Company” The Board of Directors of “Dubai Taxi Company P.J.S.C.” met on Wednesday, September 04, 2024, at 3:00 pm at the Company’s headquarters, achieving legal quorum. The Board discussed and resolved internal matters related to the Company’s business. Best Regards, Vicken Khochafian Board Secretary and Governance Director cc: Securities and Commodities Authority
A notification was issued on August 30, 2024, to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, informing him about an upcoming Board of Directors meeting for the Dubai Taxi Company P.J.S.C. The meeting is scheduled for Wednesday, September 4, 2024, at 3:00 pm at the company's headquarters. The purpose of the meeting is to discuss and make decisions on internal matters related to the company's business. The notification was signed by Vicken Khochafian, the Board Secretary and Governance Director, and a copy was sent to the Securities and Commodities Authority.
On July 31, 2024, the Board of Directors of Dubai Taxi Company P.J.S.C. held a meeting at 3:00 pm via videoconferencing, achieving the necessary legal quorum. During the meeting, the Board discussed and made decisions on internal matters related to the company's business. The letter, signed by Board Secretary Vicken Khochafian, is addressed to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, and a copy was sent to the Securities and Commodities Authority.
Date: July 26, 2024 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, United Arab Emirates Subject: Notification of Board Meeting - Dubai Taxi Company P.J.S.C. The Board of Directors of Dubai Taxi Company P.J.S.C. will meet on Wednesday, July 31, 2024, at 3:00 pm via videoconferencing to discuss and make decisions on internal matters related to the company's business. Best Regards, Vicken Khochafian Board Secretary cc: Securities and Commodities Authority
Dubai Taxi Company PJSC (DTC) reported a 27% year-on-year increase in EBITDA to AED 309.3 million for the first half of 2024, with revenue up 14% to AED 1.09 billion. The company expanded its taxi fleet by 294 vehicles and completed 23 million trips, a 4% increase year-on-year. The EBITDA margin rose to 28%, and net profit, affected by interest and corporate tax, was AED 187.4 million. The board approved dividends of AED 159.3 million. The growth strategy included fleet expansion and new strategic partnerships. Revenue from the core taxi segment grew by 12%, the limousine segment by 6%, the bus segment by 26%, and the bike segment nearly tripled.
The document is a review report and condensed interim financial information for Dubai Taxi Company P.J.S.C. for the six-month period ending on June 30, 2024.

Threads

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Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Board Decisions by Passing

Date: 01/10/2024 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, United Arab Emirates Subject: Notification of Issuance of a Board Resolution by Circulation – Dubai Taxi Company P.J.S.C. The Board of Directors of Dubai Taxi Company P.J.S.C. will issue a Board Resolution by Circulation on 04/10/2024. This resolution pertains to the approval of internal matters that will not impact the company's share price. Best Regards, Vicken Khochafian Board Secretary & Governance Director cc: Securities and Commodities Authority

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Press release

Dubai Taxi Company (DTC) has been awarded 300 new plates by Dubai's Roads and Transport Authority, increasing its market share to 46% and expanding its fleet to nearly 6,000 vehicles. This expansion is expected to generate an additional annual revenue of AED 100 million. The company aims to meet the growing demand for transport in Dubai, driven by population and economic growth. CEO Mansoor Rahma Al Falasi highlighted that the fleet has grown by approximately 10% in 2024, reaching nearly 9,000 vehicles across various segments. This move aligns with DTC's strategy of fleet expansion and enhancing shareholder value.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Results of BOD Meeting

Date: September 04, 2024 To: Mr. Hamed Ahmed Ali Chief Executive Officer Dubai Financial Market Dubai, United Arab Emirates Subject: Board Meeting Results - Dubai Taxi Company P.J.S.C. - The “Company” The Board of Directors of “Dubai Taxi Company P.J.S.C.” met on Wednesday, September 04, 2024, at 3:00 pm at the Company’s headquarters, achieving legal quorum. The Board discussed and resolved internal matters related to the Company’s business. Best Regards, Vicken Khochafian Board Secretary and Governance Director cc: Securities and Commodities Authority

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: BOD meeting

A notification was issued on August 30, 2024, to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, informing him about an upcoming Board of Directors meeting for the Dubai Taxi Company P.J.S.C. The meeting is scheduled for Wednesday, September 4, 2024, at 3:00 pm at the company's headquarters. The purpose of the meeting is to discuss and make decisions on internal matters related to the company's business. The notification was signed by Vicken Khochafian, the Board Secretary and Governance Director, and a copy was sent to the Securities and Commodities Authority.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Results of BOD Meeting

On July 31, 2024, the Board of Directors of Dubai Taxi Company P.J.S.C. held a meeting at 3:00 pm via videoconferencing, achieving the necessary legal quorum. During the meeting, the Board discussed and made decisions on internal matters related to the company's business. The letter, signed by Board Secretary Vicken Khochafian, is addressed to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, and a copy was sent to the Securities and Commodities Authority.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: BOD meeting

Date: July 26, 2024 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, United Arab Emirates Subject: Notification of Board Meeting - Dubai Taxi Company P.J.S.C. The Board of Directors of Dubai Taxi Company P.J.S.C. will meet on Wednesday, July 31, 2024, at 3:00 pm via videoconferencing to discuss and make decisions on internal matters related to the company's business. Best Regards, Vicken Khochafian Board Secretary cc: Securities and Commodities Authority

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Press release regarding financial results for the 2nd QTR of 2024

Dubai Taxi Company PJSC (DTC) reported a 27% year-on-year increase in EBITDA to AED 309.3 million for the first half of 2024, with revenue up 14% to AED 1.09 billion. The company expanded its taxi fleet by 294 vehicles and completed 23 million trips, a 4% increase year-on-year. The EBITDA margin rose to 28%, and net profit, affected by interest and corporate tax, was AED 187.4 million. The board approved dividends of AED 159.3 million. The growth strategy included fleet expansion and new strategic partnerships. Revenue from the core taxi segment grew by 12%, the limousine segment by 6%, the bus segment by 26%, and the bike segment nearly tripled.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Financial statements for the 2n QTR of 2024

The document is a review report and condensed interim financial information for Dubai Taxi Company P.J.S.C. for the six-month period ending on June 30, 2024.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Results of BOD Meeting

The Board of Directors of Dubai Taxi Company P.J.S.C. held a meeting on July 25, 2024, achieving quorum. During the meeting, the following items were discussed and approved: 1. Financial results for the first half of the fiscal year 2024. 2. Distribution of cash dividends for the first half of FY 2024, amounting to AED 159,279,837 (6.37 fils per share), representing 85% of the net profit for the period. Key dates include: - Last entitlement date: August 01, 2024 - Ex-dividend date: August 02, 2024 - Registry closing date: August 05, 2024 - Payment date: August 23, 2024 3. Other operational and internal matters. The communication was signed by Vicken Khochafian, Board Secretary, and a copy was sent to the Securities and Commodities Authority.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: Earnings Call

On 22 July 2024, Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, was informed that Dubai Taxi Company PJSC will hold an earnings call on Friday, 26 July 2024, at 10:00 AM to discuss the financial results for the second quarter of 2024. The presentation for the meeting will be available on the company's website prior to the meeting. The announcement was made by Rami Mohammad Al Banna, Head of Investor Relations, and a copy was sent to the Securities and Commodities Authority.

1. Attached Document

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