Press releases, Reports & Disclosures for Dubai Taxi Company PJSC

The Board of Directors of Dubai Taxi Company P.J.S.C. issued a Board Resolution by Circulation on March 26, 2025, concerning the approval of internal matters that do not affect the company's share price. This information was communicated to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market. The correspondence was signed by Vicken Khochafian, the Board Secretary and Governance Director, and a copy was sent to the Securities and Commodities Authority.

Date: 24/03/2025 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, Dubai, United Arab Emirates Subject: Notification of Issuing a Board Resolution by Circulation – Dubai Taxi Company P.J.S.C. This is to inform you that the Board of Directors of Dubai Taxi Company P.J.S.C. will issue a Board Resolution by Circulation on 26/03/2025. The resolution pertains to the approval of internal matters that will not affect the company's share price. Best Regards, Vicken Khochafian Board Secretary & Governance Director CC: Securities and Commodities Authority

Dubai Taxi Company held its Annual General Meeting on March 19, 2025, at the InterContinental Hotel in Dubai, with options for in-person and electronic participation. The meeting achieved a legal quorum, and the following resolutions were approved by a majority of the votes: 1. Appointment of Mr. Vicken Khochafian as the Secretary for the Meeting and LUMI as the Vote Collector. 2. Approval of the Board of Director’s Report on the company's activities and financial position for the fiscal year ending December 31, 2024. 3. Approval of the independent external auditor’s report for the fiscal year ending December 31, 2024. 4. Approval of the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2024. 5. Approval of the Board of Director’s proposal to distribute cash dividends for the second half of the fiscal year ending December 31, 2024, amounting to AED 122,308,369 (4.89 Fils per share), representing 85% of the net profit for the period. The Board is also authorized to distribute semi-annual dividends for the first half of the financial year 2025 in line with the company's article of association and dividend policy. The last entitlement date for dividends is March 27, 2025, with the ex-dividend date on March 28, 2025, and the record date on April 2, 2025.

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.