Press releases, Reports & Disclosures for Dubai Taxi Company PJSC

The text appears to be a title or heading for an Integrated Annual Report for the year 2024, focusing on sustainable growth and leadership in sustainability.

Dubai Taxi Company (DTC) has entered a five-year exclusive partnership with Dubai Airports to provide taxi services at Dubai International and Dubai World Central - Al Maktoum International. This agreement aims to accommodate the increasing number of tourists and visitors, with airport taxi trips expected to exceed 8 million by 2029 and projected revenues of AED 2.5 billion over five years. In 2024, Dubai Airports welcomed 93 million guests, resulting in 6 million taxi and limousine trips. DTC has been collaborating with Dubai Airports since 1997 and has expanded to become Dubai's leading taxi operator, currently managing a fleet of about 900 taxis and 500 premium limousines.

Dubai Taxi Company P.J.S.C. invites its shareholders to the Annual General Meeting (AGM) on Wednesday, March 19, 2025, at 3:00 pm. The meeting will be held in person at the Al Ras ballroom, InterContinental Hotel, Dubai Festival City, Dubai, with an option for electronic participation. The agenda includes approving various reports and financial statements for the fiscal year ending December 31, 2024, discussing dividends and remuneration, and appointing auditors for 2025. A special resolution will address an amendment to the Company's Articles of Association. Shareholders must register electronically to attend and vote, with registration open from March 12 to March 19, 2025. Invitations and registration details will be sent via SMS and email by February 25, 2025.

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.