Dubai Taxi Company PJSC: Impressive 9M 2024 Growth Amidst Strategic Expansion
Dubai Taxi Company PJSC has released its financial results for the nine months ending September 2024, showcasing significant growth across various segments.
Summary
Dubai Taxi Company PJSC reported a 20% YoY growth in EBITDA for 9M 2024, driven by a 13% increase in revenue. The company expanded its operational fleet and strengthened its market share through strategic partnerships.
Dubai Taxi Company PJSC: Impressive 9M 2024 Growth Amidst Strategic Expansion
Dubai Taxi Company PJSC (DTC), a prominent mobility solutions provider in Dubai, has delivered robust financial performance for the nine months ending September 30, 2024. The company reported a 20% year-on-year (YoY) increase in EBITDA to AED 432.2 million, driven by a 13% growth in revenue to AED 1.60 billion.
Key Performance Indicators
| KPI | 9M 2024 | 9M 2023 | Change (%) |
|---|---|---|---|
| Revenue (AED billion) | 1.60 | 1.42 | 13% |
| EBITDA (AED million) | 432.2 | 360.2 | 20% |
| Net Profit Before Tax (AED million) | 271.8 | 228.3 | 19% |
| EBITDA Margin | 27% | 25% | 2pp |
| Market Share | 46% | 44% | 2pp |
Strategic Growth and Market Expansion
The company has expanded its operational fleet by 444 vehicles, increasing its market share to 46%. This expansion, along with strategic partnerships, such as the collaboration with Bolt to launch a leading international e-hailing platform in Dubai, has positioned DTC as a market leader.
DTC's taxi segment saw a 12% increase in revenue, driven by an increased number of trips and longer average trip lengths. The limousine segment also experienced growth, with revenue increasing by 3% YoY.
Conclusion
DTC's impressive financial performance and strategic initiatives underscore its commitment to growth and market leadership. The company's focus on fleet expansion, strategic partnerships, and operational efficiencies positions it well for continued success. Investors should consider DTC's strong market position and growth potential when making investment decisions.
Source
Summary
The document is a review report and condensed interim financial information for Dubai Taxi Company P.J.S.C. covering the nine-month period ending on September 30, 2024.
