Dubai Taxi Company PJSC

Dubai Taxi Company (DTC) has entered into a strategic partnership with talabat UAE, a leading delivery platform, to enhance and expand DTC's delivery fleet. This agreement aims to diversify DTC's revenue base and leverage its extensive network to support talabat's delivery services across the UAE. The collaboration aligns with DTC's growth strategy to strengthen its presence in both local and international transport and delivery markets within the e-commerce sector. The partnership will facilitate improved investment opportunities, better commercial relationships, and increased revenue potential, while enhancing talabat's delivery capabilities through DTC's advanced logistics technologies.

The Dubai Taxi Company has extended its operational agreement with Hala until the end of 2025, maintaining exclusive operation of taxis on the Hala platform until the end of 2024. The updated agreement includes improvements for driver benefits and operational processes, taking advantage of the company's 46% market share in the taxi industry.

Dubai Taxi Company (DTC) reported a 40% YoY increase in EBITDA to AED 169.9 million in Q1 2024. Revenue for the quarter grew by 16% to AED 558.4 million, driven by improvements across all segments. The company's taxi segment saw a 15% YoY increase in revenue, supported by the addition of new taxis to its fleet. The limousine segment also performed well, with a 7% YoY and 17% QoQ increase in revenue. The bus segment revenue rose by 28% YoY to AED 37 million, while the delivery bikes segment saw a fourfold increase in revenue YoY. Despite the introduction of corporate tax, DTC's net profit grew by 15% YoY to AED 108.0 million. Excluding the tax impact, net profit increased 26%.

The document is a review report and condensed interim financial information for the Dubai Taxi Company P.J.S.C., covering the three-month period ending on 31 March 2024.

The Board of Directors of the Dubai Taxi Company P.J.S.C. held a meeting on May 07, 2024, at the company's headquarters. The meeting achieved quorum and two main agenda items were addressed and approved. These include the interim financial statements for the period ending on March 31, 2024, and other operational and internal matters. The information was relayed by the Board Secretary, Vicken Khochafian, to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market.

On 1st May 2024, Rami Mohammad Al Banna, 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 was to inform him about the company's earnings call scheduled for 3:00 pm on 8th May. This call is intended to discuss the financial results for the first quarter of 2024. The presentation for the call will be available on the company's website before the meeting. The Securities and Commodities Authority was also copied in the letter.

On April 29, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market. The letter was from Vicken Khochafian, the Board Secretary of the Dubai Taxi Company P.J.S.C., notifying him about a board meeting scheduled for May 07, 2024, at 3:00 pm at the company's headquarters. The agenda for the meeting includes discussions and approvals on the first quarter financials of 2024 and other operational and internal matters. A copy of the letter was also sent to the Securities and Commodities Authority.