Images: DTC/ Dubai Media Office
The Dubai Taxi Company (DTC) has announced a 33% increase in its net profit, reaching Dhs105.4 million for the second quarter of 2025 compared to last year, driven by a surge in passenger demand and an expanded fleet.
During this quarter, revenue rose by 18% to Dhs625.2 million, and earnings before interest, tax, depreciation, and amortization (EBITDA) surged by 30% to Dhs180.6 million, reflecting enhanced operational efficiency and reduced promotional expenses at its subsidiary, Connectech.
The EBITDA margin improved by three percentage points, reaching 29% in Q2 2025.
For the first half of the year, revenue increased by 11% to Dhs1.2 billion, with an EBITDA margin of 28%.
The board of directors has sanctioned an interim dividend of Dhs160.7 million, or 6.43 fils per share, for H1 2025, following DTC’s practice of distributing at least 85% of its annual net profit in semi-annual dividends.
This dividend payment is expected to take place in August.
DTC’s Segment Performance
The primary taxi services sector achieved Q2 revenue of Dhs539.7 million, reflecting an 18% rise year-on-year, thanks to fleet growth and high vehicle utilization rates.
As of June, the operational taxi fleet included 6,210 vehicles, of which 335 were fully electric.
The limousine service generated revenue of Dhs30.5 million in Q2, an 8% increase from the previous year. Across its taxi and limousine services, DTC completed 13.6 million trips during the quarter, a notable 19% increase compared to the same quarter last year.
Conversely, the bus segment experienced a 12% drop in revenue to Dhs31.3 million due to modifications in the revenue recognition process, although the company confirmed that these changes had no impact on the total annual contract values.
In contrast, the delivery bike segment saw exceptional growth, with revenue more than doubling year-on-year to Dhs18.2 million, driven by ongoing demand in the on-demand delivery sector.
Overall, DTC’s total operational fleet grew by 23% year-on-year, reaching 10,180 vehicles by the end of June.
Balance Sheet and Capital Management
As of June 30, DTC reported a cash balance of Dhs236 million, including Wakala deposits, and a net debt-to-EBITDA ratio of 1.2x, highlighting a robust financial position.
Strategic Initiatives
A significant development during the quarter was the integration of over 6,000 taxis onto the Bolt e-hailing platform, which is part of a comprehensive digital strategy aiming to transition 80% of taxi trips in Dubai to electronic booking methods.
DTC also introduced 200 all-electric BYD SEAL taxis in collaboration with Al-Futtaim Electric Mobility, reinforcing its commitment to achieving full electrification by 2040, in line with the UAE’s Net Zero 2050 target.
The partnership between DTC and Bolt has further expanded through a collaboration with talabat, providing talabat pro users with exclusive ride discounts, effectively merging lifestyle and transportation services.
Chairman Abdul Muhsen Ibrahim Kalbat stated that the results indicate “consistent strength in DTC’s operating framework” and its alignment with Dubai’s evolving infrastructure and population growth.
CEO Mansoor Alfalasi emphasized the increasing demand for smart mobility and characterized the partnership with Bolt as a crucial step toward creating the UAE’s largest e-hailing ecosystem.
DTC anticipates sustained growth across all segments, fueled by increases in tourism, continuous infrastructure investments, and its ongoing collaboration with Dubai Airports.