Dubai Taxi Company PJSC

Dubai Taxi Company PJSC (DTC) reported a 19% year-on-year growth in EBITDA for FY 2024, reaching AED 584.4 million, with revenue increasing by 12% to AED 2.20 billion. The company completed 49 million trips across its taxi and limousine segments, marking a 6% increase from the previous year, and expanded its operational taxi fleet by 744 vehicles, raising its market share to 47%. The EBITDA margin improved by 1.6 percentage points to 27%, and net profit rose 18% to AED 331.3 million, excluding interest and tax. DTC launched a new five-year strategy focused on innovation and excellence and reported a successful partnership with Bolt, completing over one million trips between December and mid-January. The Board of Directors recommended final dividends of AED 122.3 million, totaling AED 281.6 million for the year. The growth was supported by Dubai's population and tourism increase, as well as urban expansion. The taxi segment's revenue rose by 12% to AED 1.92 billion, and the limousine segment saw an 8% revenue increase to AED 124.5 million. The bus segment also performed well, with an 11% revenue increase to AED 119.2 million.

The Board of Directors of Dubai Taxi Company P.J.S.C. held a meeting on February 19, 2025, at the company's headquarters, where they achieved quorum and addressed several key items. They approved the board's report and audited financial statements for 2024, decided to convene the Annual General Meeting on March 19, 2025, pending approval from the Securities and Commodities Authority, and proposed distributing cash dividends for the second half of 2024 totaling AED 122,308,369, representing 85% of the net profit. The board also resolved to seek shareholder approval to amend the company's articles of association regarding the definition of "Government Shareholder," subject to prior approval from the Securities and Commodities Authority. Additionally, the Corporate Governance Report for 2024 and other operational and internal matters were discussed.

On 13 February 2025, a communication was sent to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding the earnings call of Dubai Taxi Company PJSC. The call is scheduled for Thursday, 20 February 2025, at 3:00 PM to discuss the financial results for the year ending 31 December 2024. The presentation will be available on the company's website prior to the meeting. The message was from Rami Mohammad Al Banna, Head of Investor Relations, and a copy was also sent to the Securities and Commodities Authority.

The Dubai Taxi Company P.J.S.C. has scheduled a Board of Directors meeting for Wednesday, February 19, 2025, at 3:00 pm at the company's headquarters. The agenda for the meeting includes discussions and approvals on the Board of Directors report and audited financial statements for the fiscal year 2024, finalization of details for the company's Annual General Meeting for the fiscal year 2024, the Corporate Governance Report for the fiscal year 2024, and other operational and internal matters. The notification is addressed to Mr. Hamed Ahmed Ali, Chief Executive Officer of the Dubai Financial Market, and is also copied to the Securities and Commodities Authority. The notification is signed by Vicken Khochafian, Board Secretary and Governance Director.

The Dubai Taxi Company PJSC, established on November 9, 2023, has a paid-up, subscribed, and authorized capital of AED 100,000,000. The company is chaired by H.E. Abdul Muhsen Ibrahim Kalbat, with Mr. Mansoor Rahma Juma Abdulla Alfalasi serving as the CEO. Deloitte & Touche (M.E.) is the external auditor. The company's mailing address is DTC Main Building, Amman Street, Al Muhaisnah 4, PO Box 2647, Dubai, UAE. Contact information includes telephone number +971 4 208 0331, fax number +971 4 208 0311, and email ir@dtc.gov.ae.

Bolt, a global shared mobility platform, has completed 1 million trips in Dubai since its launch in December 2024. This achievement is supported by a fleet of premium limousines from over 200 partners and 18,000 trained drivers. The platform's user-friendly app offers features like transparent pricing, easy navigation, live tracking, and multiple ride options, enhancing customer confidence. Bolt's partnership with Dubai Taxi Company aims to advance e-hailing solutions and smart transportation services in Dubai, aligning with the city's goal to transition 80% of taxi trips to e-hailing. Mansoor Alfalasi, CEO of Dubai Taxi Company, praised Bolt's milestone and its role in Dubai's transportation ecosystem. Future plans include adding taxi services to Bolt's platform and expanding its reach beyond Dubai.

Dubai Taxi Company PJSC has announced its corporate strategy for 2025-2029, focusing on innovation and growth. The company aims to maintain its leadership in the taxi market while expanding into limousine services and delivery, targeting new markets in the UAE and the region. The strategy includes a new vision to be the preferred mobility choice, emphasizing digital and safe mobility services that cater to convenience, connectivity, and sustainability. Chairman Abdul Mohsen Ibrahim Kalbat highlighted the company's transformation into a public joint stock company and its commitment to sustainable growth and strategic partnerships to support Dubai's vision for a smart and sustainable future.

On December 18, 2024, the Board of Directors of Dubai Taxi Company P.J.S.C. held a meeting at the company’s headquarters at 3:00 pm, with a quorum present. During the meeting, they approved the company's budget for the fiscal year 2025, the strategy for 2025-2029, the ESG (Environmental, Social, and Governance) strategy, and other operational and internal matters. The communication was signed by Vicken Khochafian, the Board Secretary and Governance Director, and a copy was sent to the Securities and Commodities Authority.

A notification has been issued for a Board of Directors meeting of Dubai Taxi Company P.J.S.C. The meeting is scheduled for Wednesday, December 18, 2024, at 3:00 PM at the company's headquarters. The agenda includes reviewing and approving the company's budget for the fiscal year 2025, discussing and approving the company's strategy for 2025-2029, evaluating and adopting the company's ESG strategy, and addressing other operational and internal matters. The notification is signed by Vicken Khochafian, the Board Secretary and Governance Director, with a copy sent to the Securities and Commodities Authority.