Dubai Taxi's Q2 revenue rises 18pc year-on-year to $170m

Dubai Taxi Company (DTC), a provider of comprehensive mobility solutions in Dubai, reported strong financial performance in Q2 2025, with revenue growing 18 per cent year-on-year to AED625.2 million ($170 million) due to fleet expansion and increased trips.

 

In H1 2025, revenue increased by 11 per cent YoY to AED1.2 billion, reflecting sustained momentum in the first half of the year.

 

DTC’s taxi segment revenue in Q2 2025 increased by 18 per cent year-on-year to AED539.7 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 per cent year-on-year to 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 per cent year-on-year. As of June 2025, DTC’s total operational fleet across all segments increased by 23 per cent to 10,180.

 

DTC’s bus segment revenue stood at AED31.3 million for Q2 2025, a 12 per cent 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 per cent 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 per cent year-on-year to AED180.6 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 per cent, whilst remaining robust at 28 per cent for the first half, as DTC remained focused on driving operational efficiencies.

 

Net profit in Q2 2025 increased by 33 per cent year-on-year to AED105.4 million, representing a net profit margin of 17 per cent, 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 AED236 million as of 30 June 2025, including Wakala deposits.

 

Abdul Muhsen Kalbat, DTC’s Chairman,  said:“Our results reflect the continued strength of our operating model and our ability to deliver value through consistent execution and customer-focused innovation. We are proud to operate in a market as dynamic and forward-looking as Dubai and the wider UAE, where strong population growth, record infrastructure investment, and robust economic indicators continue to support long-term demand for smart mobility solutions, and we are well-positioned to capitalise on these positive trends. I am also pleased to confirm that the Board approved a dividend payout for the first half of the year, in line with our highly attractive policy to distribute at least 85 per cent of annual net profit.”

 

Mansoor Alfalasi, DTC’s CEO, added: “Our performance in the second quarter and first half of 2025 underscores our disciplined execution and sustained operational progress. We continue to see strong momentum across our core segments, driven by expanding fleet capabilities and increasing demand for smart, customer-centric mobility solutions. A major highlight of the period has been the deepening of our strategic partnership with Bolt, marked by the onboarding of over 6,000 taxis to the Bolt platform. This milestone represents a significant step forward in our ambition to build the UAE’s largest e-hailing ecosystem. It exemplifies our commitment to creating integrated, digital-first mobility solutions that elevate everyday convenience and reshape the customer experience. Additionally, our alliance with Al-Futtaim Electric Mobility reinforces our long-term commitment to sustainability as we advance towards a fully electric fleet by 2040.”

 

He added: “Our business is underpinned by strong fundamentals, a solid financial position, and a platform built for sustainable growth. As we look to the future, our focus remains on driving operational excellence, elevating the customer journey, and unlocking new opportunities within Dubai’s and the UAE’s dynamic and fast-growing mobility landscape.”

 

Board Approves H1 2025 Dividend

 

DTC’s Board of Directors has approved dividends of AED160.7 million, amounting to 6.43 fils per share for H1 2025, in line with the Company’s dividend policy of targeting dividend distribution of at least 85 per cent of annual net profit, distributed semi-annually.

 

The announced interim dividend is expected to be distributed in August 2025.

 

Operational Highlights

 

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 per cent 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. -TradeArabia News Service