Dubai: Dubai Taxi Company reported an 18% revenue rise in Q2 2025, driven by fleet growth and higher trip volumes, while net profit climbed 33%. Electrification efforts and partnerships with Bolt and Al-Futtaim signal accelerated moves towards greener and digital mobility in the UAE.
Dubai Taxi Company (DTC) has reported a robust financial performance in the second quarter of 2025, with revenue rising 18 percent year-on-year to AED 625.2 million ($170 million). This growth was largely driven by the expansion of its taxi fleet and increased trip volumes, underscoring the company’s strong operational momentum. For the first half of 2025, revenue increased by 11 percent year-on-year, reaching AED 1.2 billion, highlighting sustained positive trends across its core business.
The taxi segment recorded revenues of AED 539.7 million in Q2, supported by an expanded fleet while maintaining high utilisation rates. The total operational taxi fleet reached 6,210 vehicles, including 335 fully electric vehicles, reflecting DTC’s ongoing commitment to sustainability and a transition towards greener transport solutions. The limousine segment also experienced growth, with revenues rising eight percent year-on-year to AED 30.5 million, backed by fleet expansion. Combined, the taxis and limousines segments completed 13.6 million trips in the quarter, a 19 percent increase compared to the previous year, while the total operational fleet across all segments rose by 23 percent to 10,180 vehicles.
While the bus segment’s revenue fell by 12 percent to AED 31.3 million, this decline was due to contractual changes affecting revenue recognition, without impacting the overall annual contract values. Meanwhile, the delivery bike segment saw remarkable growth, with revenues more than doubling to AED 18.2 million, capitalising on the burgeoning on-demand delivery market.
DTC’s financial health was further reinforced by a 30 percent year-on-year increase in EBITDA to AED 180.6 million in Q2, attributed to the higher number of trips and revenue, alongside a reduced promotional impact from Connectech, the company’s subsidiary which includes Bolt’s e-hailing operations. Notably, the EBITDA margin increased to 29 percent for the quarter, while the half-year margin remained robust at 28 percent, reflecting the company’s focus on operational efficiency. Net profit surged 33 percent year-on-year to AED 105.4 million, with a net profit margin of 17 percent, driven by strong operational gains.
The company’s balance sheet remains strong, with a net debt-to-EBITDA ratio of 1.2x and a healthy cash balance of AED 236 million, including Wakala deposits as of June 30, 2025. DTC’s Board of Directors approved an interim dividend of AED 160.7 million for the first half of the year, corresponding to 6.43 fils per share. This dividend aligns with the company’s policy of distributing at least 85 percent of annual net profit, with payments scheduled for August 2025.
In strategic developments, DTC significantly deepened its partnership with Bolt by onboarding over 6,000 taxis onto the Bolt platform, advancing its ambition to build the UAE’s largest e-hailing ecosystem. This initiative enhances digital convenience for users and supports Dubai’s broader goal of transitioning 80 percent of taxi trips to e-bookings. Additionally, a new alliance with Al-Futtaim Electric Mobility Company marks a pivotal step toward fleet electrification, with the deployment of 200 all-electric BYD SEAL taxis. This move aligns with both DTC’s target of a fully electric fleet by 2040 and the UAE’s wider Net Zero 2050 vision. The electric vehicles are expected to improve operational efficiency and customer experience, reinforcing DTC’s position as a leader in sustainable mobility in the region.
Further integration across lifestyle platforms was bolstered through Bolt’s new partnership with talabat, the region’s leading on-demand delivery platform. Talabat pro subscribers will benefit from exclusive discounts on Bolt rides, fostering seamless connections between transport and delivery services.
Reflecting on these results, Abdul Muhsen Kalbat, DTC’s Chairman, expressed confidence in the company’s operational model and its ability to harness Dubai’s dynamic and growing market. He highlighted the company’s focus on innovation and customer-centric solutions, supported by strong economic indicators and infrastructure investments in the UAE. CEO Mansoor Alfalasi emphasised disciplined execution and strong fleet expansion as key drivers of growth, with digital initiatives and sustainability partnerships underpinning the company’s forward-looking strategy.
These recent results build on DTC’s previous strong performance, which included a 19 percent increase in EBITDA for the complete 2024 fiscal year and steady revenue growth propelled by both fleet expansion and new mobility offerings. The company has steadily increased its market share, particularly in the airport taxi segment, and continues to prioritize investments in technology, customer experience, and greener transport options.
Looking ahead, DTC aims to consolidate its leadership in the UAE’s mobility sector by enhancing operational excellence and expanding digital and sustainable transport solutions, positioning itself well within a rapidly evolving and competitive landscape.
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Source: Noah Wire Services
- https://www.zawya.com/en/capital-markets/equities/dubai-taxis-q2-revenue-rises-18-year-on-year-to-170m-ui1i4qvw – Please view link – unable to able to access data
- https://mediaoffice.ae/en/news/2025/july/29-07/dtc-delivers-strong-q2-2025-performance–with-net-profit-growth – Dubai Taxi Company (DTC) reported strong financial performance in Q2 2025, with revenue growing 18% year-on-year to AED 625.2 million, driven by fleet expansion and increased trips. The taxi segment revenue increased by 18% year-on-year to AED 539.7 million, with the total operational taxi fleet reaching 6,210 vehicles, including 335 fully electric vehicles. The limousine segment saw revenue increase by 8% year-on-year to AED 30.5 million, supported by fleet expansion. The company completed 13.6 million trips during Q2 2025, up 19% year-on-year. DTC’s EBITDA increased 30% year-on-year to AED 180.6 million, and net profit grew by 33% year-on-year to AED 105.4 million. The Board approved a dividend payout of AED 160.7 million for H1 2025, in line with the company’s policy to distribute at least 85% of annual net profit. DTC also expanded its partnership with Bolt, onboarding over 6,000 taxis to the Bolt platform, and launched a strategic partnership with Al-Futtaim Electric Mobility Company to deploy 200 all-electric BYD SEAL taxis across Dubai, reinforcing its commitment to sustainability. The company aims to achieve full fleet electrification by 2040.
- https://www.gulftoday.ae/business/2025/07/29/dtc-delivers-strong-q2-performance-with-net-profit-growth-of-33-per-cent – Dubai Taxi Company (DTC) announced its financial results for Q2 2025, reporting a net profit increase of 33% year-on-year to AED 105.4 million, representing a net profit margin of 17%. Revenue grew 18% year-on-year to AED 625.2 million, driven by fleet expansion and higher number of trips. For H1 2025, revenue increased 11% year-on-year to AED 1.2 billion, reflecting sustained momentum throughout the first half of the year. The taxi segment revenue in Q2 2025 increased by 18% year-on-year to AED 539.7 million, driven by fleet expansion while maintaining strong utilisation levels. As of June 2025, the total operational taxi fleet reached 6,210 vehicles, including 335 fully electric vehicles as part of the company’s ongoing transition to a more sustainable offering. The limousine segment saw revenue increase by 8% year-on-year to AED 30.5 million in Q2 2025, supported by the expansion of its fleet. The company’s taxis and limousines segment completed 13.6 million trips during Q2 2025, up 19% year-on-year. As of June 2025, DTC’s total operational fleet across all segments increased by 23% to 10,180. DTC’s bus segment revenue stood at AED 31.3 million for Q2 2025, a 12% decrease year-on-year, due to contractual changes that altered the revenue recognition cycle during the period. These changes do not have any impact on the overall annual contract values. The company’s delivery bike segment recorded strong revenue growth in Q2 2025, increasing by 102% year-on-year to AED 18.2 million, supported by continued expansion in the fast-growing on-demand delivery market. The company’s EBITDA increased 30% year-on-year to AED 180.6 million in Q2 2025, driven by a significant increase in trips and revenue, alongside a lower promotional impact from Connectech (DTC’s subsidiary including Bolt e-hailing operations), which was more heavily weighted toward the first quarter as anticipated. The EBITDA margin in the second quarter was up 3 percentage points at 29%, whilst remaining robust at 28% for the first half, as DTC remained focused on driving operational efficiencies. Net profit in Q2 2025 increased by 33% year-on-year to AED 105.4 million, representing a net profit margin of 17%, supported by the strong rise in operating profit. DTC maintains a healthy balance sheet, with a highly attractive net debt-to-EBITDA ratio of 1.2x and a cash balance of AED 236 million as of 30 June 2025, including Wakala deposits. The Board approved a dividend payout of AED 160.7 million for H1 2025, in line with the company’s dividend policy of targeting dividend distribution of at least 85% of annual net profit, distributed semi-annually. The announced interim dividend is expected to be distributed in August 2025. As part of its strategic growth agenda, DTC marked a major milestone through the expansion of its partnership with Bolt, onboarding over 6,000 taxis onto the Bolt platform. This initiative significantly enhances digital accessibility and convenience for residents and visitors, aligning with the emirate’s broader vision to transition 80% of taxi trips to e-booking. The move reinforces DTC’s leadership in smart mobility and supports its 2025–2029 strategy to cement its position as the UAE’s largest taxi operator and a regional transportation leader. Reinforcing its leadership in sustainable mobility, DTC launched a strategic partnership with Al-Futtaim Electric Mobility Company deploying 200 all-electric BYD SEAL taxis across Dubai. This initiative builds on DTC’s existing eco-friendly fleet and marks a pivotal step in DTC’s journey toward achieving full fleet electrification by 2040 whilst supporting the UAE’s broader Net Zero 2050 vision. Beyond environmental impact, the integration of high-performance electric vehicles enhances operational efficiency and passenger experience, further positioning DTC at the forefront of green mobility innovation in the region. In a move to enhance integrated lifestyle experiences, Bolt entered into a strategic partnership with talabat, the region’s leading on-demand delivery platform. The initiative offers talabat pro subscribers exclusive discounts on Bolt rides, creating seamless lifestyle integration across transport and delivery platforms.
- https://gulfnews.com/business/markets/dubai-taxi-co-approves-dh1607m-as-interim-dividend-hits-h1-25-revenues-of-dh12b-1.500214670 – Dubai Taxi Company (DTC) approved an interim dividend of AED 160.7 million for H1 2025, amounting to 6.43 fils per share, in line with its policy to distribute at least 85% of annual net profit, distributed semi-annually. The H1-2025 interim dividend is expected to be distributed in August 2025. DTC reported a strong 18% year-on-year revenue rise in Q2 to AED 625.2 million, driven by fleet expansion and higher number of trips. For H1-2025, revenues increased 11% year-on-year to AED 1.2 billion, reflecting sustained momentum throughout the first half of the year. CEO Mansoor Rahma Alfalasi stated, “We continue to see strong momentum across our core segments, driven by expanding fleet capabilities and increasing demand for smart, customer-centric mobility solutions.” He also highlighted the alliance with Al-Futtaim Electric Mobility, reinforcing DTC’s long-term commitment to sustainability as it advances towards a fully electric fleet by 2040.
- https://www.dubaitaxi.ae/en/post/dtc-delivers-robust-fy-2024-ebitda-growth-of-19-yoy-to-aed-584-4-million – Dubai Taxi Company (DTC) reported a 19% year-on-year increase in EBITDA to AED 584.4 million for the full year 2024. The company expanded its taxi fleet by adding 744 vehicles, increasing its total operational taxi fleet to 5,960. DTC secured 994 new license plates and allocated 644 additional plates through RTA auctions, doubling its airport taxi fleet and increasing its taxi market share in Dubai to 47%. The number of trips completed across the taxi and limousine segments increased by 6% to 49 million. Taxi segment revenue increased 12% year-on-year to AED 1.92 billion, and the limousine segment saw revenue increase by 8% to AED 124.5 million. The bus segment delivered a solid performance, with revenue increasing 11% to AED 119.2 million. The delivery bike segment delivered stellar growth with revenue up 2.3 times, as it expanded in the rapidly growing on-demand delivery market through partnerships with major delivery aggregators. During the fourth quarter of 2024, DTC partnered with Bolt to launch its e-hailing platform in Dubai. Launched in December 2024, Bolt completed one million trips by mid-January. The Board of Directors recommended a final dividend of AED 122.3 million for the second half of the year, amounting to 4.89 fils per share, in line with the company’s policy to distribute at least 85% of annual net profit, distributed semi-annually.
- https://www.dubaitaxi.ae/en/post/dtc-delivers-robust-9m-2024-ebitda-growth-of-20-yoy-to-aed-432-2-million – Dubai Taxi Company (DTC) reported a 20% year-on-year increase in EBITDA to AED 432.2 million for the nine months ended 30 September 2024. Revenue for the period increased 13% year-on-year to AED 1.60 billion, driven by positive performance across all its segments. The company’s taxi and limousine fleet is now more than 85% environmentally friendly, consisting of either hybrid or electric vehicles. DTC’s net profit before tax and interest costs increased 19% year-on-year to AED 319.3 million. The company maintains a healthy balance sheet, with a net debt to EBITDA ratio of 1.3x and a cash balance of AED 272.3 million, including Wakala deposits, as of 30 September 2024. CEO Mansoor Rahma Alfalasi stated, “DTC delivered a strong set of results during the nine-month period as we continued to deliver on our growth priorities and position the Company for future growth.”
- https://www.dubaitaxi.ae/en/post/dtc-delivers-h1-2024-ebitda-growth-of-27-yoy-to-aed-309-3-million – Dubai Taxi Company (DTC) reported a 27% year-on-year increase in EBITDA to AED 309.3 million for the first half of 2024. Revenue increased 14% year-on-year, sustaining an EBITDA margin of 28%. The company increased its taxi fleet by 294 vehicles during this period, strengthening its market position and operational capacity.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative presents recent financial results for Q2 2025, with no evidence of prior publication. The earliest known publication date is July 29, 2025. The content is original and not recycled. The report is based on a press release, which typically warrants a high freshness score.
Quotes check
Score:
10
Notes:
Direct quotes from DTC’s Chairman, H.E. Abdul Muhsen Ibrahim Kalbat, and CEO, Mansoor Rahma Alfalasi, are present. These quotes appear to be original, with no prior online matches found. The wording is consistent across sources, indicating authenticity.
Source reliability
Score:
10
Notes:
The narrative originates from reputable sources, including the Dubai Government Media Office and Khaleej Times, both known for their credibility. The information aligns with official press releases and established news outlets.
Plausability check
Score:
10
Notes:
The reported financial figures and strategic initiatives are consistent with DTC’s recent activities and Dubai’s economic growth. The narrative includes specific details such as the net profit of AED 105.4 million, a 33% increase year-on-year, and the expansion of the taxi fleet to 6,210 vehicles, including 335 fully electric ones. These details are corroborated by multiple reputable sources.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is original, based on a recent press release, and corroborated by reputable sources. The financial figures and strategic initiatives reported are consistent with DTC’s recent activities and Dubai’s economic growth, indicating a high level of credibility.
