Press releases, Reports & Disclosures for Dubai Taxi Company PJSC

The Dubai Taxi Company held its Annual General Meeting on March 28, 2024, at the InterContinental Hotel in Dubai Festival City. The meeting had an option for electronic participation and achieved a legal quorum. Resolutions approved during the meeting include the appointment of Mr. Vicken Khochafian as the Secretary for the Meeting and LUMI as Vote Collector and Registrar. The company's activities and financial position for the fiscal year ending December 31, 2023, were approved, as was the independent auditor’s report for the same period. The Company's balance sheet and profit and loss account for the fiscal year ending on December 31, 2023, were also approved. The Board of Directors' proposal to distribute cash dividends for the 4th Quarter of the fiscal year ending on December 31, 2023, was approved, and the payment date was set on April 23, 2024. The Board of Directors was authorized to distribute semi-annual dividends in October. The proposal concerning the Board of Directors remuneration for the fiscal year ending on December 31, 2023, was also approved.

The Board of Directors of Dubai Taxi Company P.J.S.C. has invited its shareholders to the Annual General Meeting (AGM) on Thursday, March 28, 2024. The meeting will be held in-person at the InterContinental Hotel in Dubai and virtually via a link provided to shareholders. The agenda includes approving the appointment of a meeting secretary, reviewing the company's financial position for 2023, approving the independent auditor's report, and considering proposals to distribute a cash dividend, among other items. Shareholders must register online to participate virtually and vote on agenda items. They also have the option to attend remotely or appoint a proxy.

The financial statements of Dubai Taxi Company P.J.S.C., formerly known as Dubai Taxi Corporation, as of 31 December 2023 have been released. The statements provide detailed information about the company's financial performance and position.

Dubai Taxi Company (DTC) has reported a 54% YoY increase in net profit for FY 2023, reaching AED 345.3 million ($94 million). The company's full-year revenue rose by 11% to AED 1.95 billion ($531 million), with 46 million trips completed across its taxi and limousine segments, marking an 8% YoY increase. EBITDA also increased by 55% YoY to AED 490.5 million ($133 million), with a margin increase to 25%. The board has approved a Q4 2023 dividend of AED 71 million ($19 million) to be distributed in April 2024. The results come after DTC's successful IPO on the Dubai Financial Market in December 2023.

The financial statements of Dubai Taxi Company P.J.S.C., formerly known as Dubai Taxi Corporation, as of 31st December 2023 have been released.

The Board of Directors of Dubai Taxi Company P.J.S.C. held a meeting on February 29, 2024, where they discussed and approved several items. These included the Board of Directors report and audited financial statements for fiscal year 2023, the proposal to convene the company's Annual General Assembly meeting on March 28, 2024 (subject to approval from the Securities and Commodities Authority), and the proposal to distribute cash dividends for Q4 of fiscal year 2023 amounting to AED 71 million (2.84 fils per share), subject to shareholder approval at the Annual General Assembly. The Corporate Governance Report for fiscal year 2023 and other internal and routine administrative topics were also discussed.

On 28 February 2024, Rami Mohammad Al Banna, the Head of Investor Relations at Dubai Taxi Company PJSC, sent a letter to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market. The letter informed him about the company's earnings call scheduled for 5 March 2024 at 3:00 pm. The purpose of the call is to discuss the financial results for the year ended 31 December 2023. The Securities and Commodities Authority was also copied in the letter.

The Board of Directors of Dubai Taxi Company P.J.S.C. will hold a meeting on February 29, 2024, at 3:30 pm at the company's headquarters. The meeting's agenda will include discussions and approvals of the Board of Directors report and audited financial statements for FY 2023, details of the company’s annual general assembly for FY 2023, the Corporate Governance Report for FY 2023, and other internal and routine administrative matters. The notification was signed by the Board Secretary, Vicken Khochafian.

The preliminary results of the Dubai Taxi Company PJSC for the year ended on December 31, 2023 have been released. The company was established on November 9, 2023. It has a paid-up, subscribed, and authorized capital of AED 100,000,000. The Chairman of the Board is Abdul Muhsen Ibrahim Kalbat and the Chief Executive Officer is Mansoor Rahma Juma Abdulla Alfalasi. The external auditor is KPMG Lower Gulf Limited. The company's mailing address is DTC Main Building, Amman Street, Al Muhaisnah 4, PO Box 2647, Dubai, UAE. They can be contacted via telephone at +971 4 208 0000, fax at +971 4 208 0311, or email at ir@dtc.gov.ae.

Dubai Taxi Company (DTC) has doubled its taxi fleet at Dubai Airports by adding 350 new eco-friendly taxis, increasing its service capacity by 100%. This move is aimed at keeping up with the growing passenger traffic and enhancing customer satisfaction. DTC now has over 5,566 vehicles, making it one of the largest operators in the region with a 45% market share in the taxi sector. The airport taxi service, available round-the-clock, is exclusively for arrivals at Dubai Airports and Port Rashid and can transport passengers to any destination within the UAE.