Dubai Taxi Company

1. Company Overview & Earnings Context

Dubai Taxi Company (DTC) delivered another strong H1 2026 performance, supported by continued growth across its taxi, limousine, and delivery bike businesses. Revenue reached a record level, driven by fleet expansion, higher trip volumes, and increasing demand for mobility services in Dubai. During the period, DTC also completed the acquisition of National Taxi, strengthening its market leadership and expanding its presence into Abu Dhabi as part of its long-term growth strategy. (Dubai Taxi)

2. Financial Performance Snapshot

• Revenue: AED 1.30B (+8% YoY)

• EBITDA: AED 345M (+5% YoY)

• EBITDA Margin: 26%

• Operating Profit: AED 243M (+4% YoY)

• Profit Before Tax: AED 220M (+5% YoY)

• Income Tax Expense: AED 20M

• Net Profit: AED 200M (+5% YoY)

• Basic EPS: AED 0.080

Compared with H1 2025:

• Revenue increased from approximately AED 1.20B to AED 1.30B.

• EBITDA increased from AED 329M to AED 345M.

• Profit before tax increased by 5%.

• Net profit increased by 5%, reflecting continued operational growth despite higher depreciation and finance costs following fleet expansion. (Dubai Taxi)

3. Operational Highlights & Key Metrics

• Total Assets: AED 4.1B

• Total Equity: AED 2.2B

• Cash & Cash Equivalents: AED 540M

• Operating Fleet: More than 7,900 vehicles

• Taxi Fleet: Over 6,300 taxis

• Limousine Fleet: More than 1,500 vehicles

• Total Trips Completed: 29 million (+7% YoY)

• Taxi Market Share in Dubai: Approximately 47%

• Bolt e-hailing trips continued to grow during the period.

• Successfully completed the AED 1.45B acquisition of National Taxi, creating the UAE's largest taxi operator with a combined fleet exceeding 9,500 vehicles and establishing a presence in Abu Dhabi.

4. Key Performance Drivers

Revenue growth was driven by fleet expansion, higher trip volumes, and sustained demand across taxi and limousine services as Dubai's population and tourism continued to grow. Continued momentum in e-hailing through the strategic partnership with Bolt also supported growth, while disciplined cost management helped maintain healthy margins. The completion of the National Taxi acquisition marks a major milestone in DTC's five-year growth strategy and significantly expands its addressable market beyond Dubai.

5. Outlook & Forward Guidance

Management remains focused on executing its five-year growth strategy by integrating National Taxi, expanding fleet capacity, accelerating digital mobility initiatives, and strengthening its e-hailing ecosystem. The Company also plans to continue investing in sustainable transportation, electric vehicles, AI-enabled mobility solutions, and operational efficiency while benefiting from Dubai's continued population growth, tourism expansion, and urban development.

6. Investor Takeaway

Dubai Taxi Company delivered another solid H1 2026 performance, supported by strong demand across its mobility businesses, continued fleet expansion, and resilient profitability. The successful acquisition of National Taxi significantly strengthens DTC's market leadership while providing entry into Abu Dhabi and creating the UAE's largest taxi operator. Combined with ongoing growth in e-hailing, digital mobility, and sustainable transport initiatives, DTC remains well positioned to capture the UAE's long-term mobility growth opportunities.