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

Dubai Financial Market News

Dubai Financial Market News

News Update From Dubai Taxi Company PJSC

Disclosure: BOD meeting

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.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Preliminary financial results for the year of 2023

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.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Press release

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.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Results of Board Decisions by Passing

The text is a formal communication dated 23rd January 2024, from Vicken Khochafian, the Board Secretary of Dubai Taxi Company P.J.S.C., to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market. The letter informs that the Board of Directors of the Dubai Taxi Company P.J.S.C. has passed a resolution approving internal manuals and policies on 23rd January 2024. The communication was sent from Dubai, UAE, with contact details provided at the beginning of the text.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Board Decisions by Passing

The text is a formal notification from Vicken Khochafian, the Board Secretary of Dubai Taxi Company P.J.S.C., to Mr. Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market. The letter, dated 18/01/2024, informs Mr. Ali that the Board of Directors of Dubai Taxi Company P.J.S.C. will be issuing a Board Resolution by Circulation on 23/01/2024. This resolution pertains to the approval of internal manuals and policies of the company. The letter is sent from Dubai, United Arab Emirates.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Results of BOD meeting

On December 22, 2023, a board meeting was held by the Dubai Taxi Company P.J.S.C. at 8:00 am at the RTA's headquarters Block B. The meeting achieved a quorum and discussed and resolved the company's budget for the year 2024 and various internal matters and routine business affairs. The information was relayed in a letter by Board Secretary, Vicken Khochafian, addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: BOD meeting

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Results of BOD meeting

On 15th December 2023, a letter was sent by Mansoor Rahma Alfalasi, the CEO of Dubai Taxi Company PJSC, to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market. The letter informed Mr. Ali about a meeting held by the Board of Directors of Dubai Taxi Company PJSC. The meeting took place at the company's headquarters and all board members attended. Routine business matters were discussed and approved during the meeting.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: Press release

Dubai Taxi Company (DTC) has appointed BHM Capital Financial Services as its liquidity provider for its shares listed on the Dubai Financial Market (DFM). BHM Capital will enter two-way daily quotes into the market trading system in line with DFM and UAE Securities and Commodities Authority regulations. The agreement is initially for three months and will continue on a monthly basis thereafter. DTC is a public joint stock company and a leading provider of mobility solutions in Dubai, operating over 7,000 vehicles.

1. Attached Document

DFM News

DFM News

News Update From Dubai Taxi Company PJSC

Disclosure: BOD meeting

On 12th December 2023, Mansoor Rahma Alfalasi, the Chief Executive Officer of Dubai Taxi Company (PJSC), informed Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market, that the board of directors of Dubai Taxi Company will hold a meeting on 15th December 2023 at 08:00 am. The purpose of the meeting is to discuss and approve the company's regular business activities.

1. Attached Document