Dubai Taxi Company (DTC) reported solid first-quarter results for 2025, driven by strong performance in its taxi and delivery bike operations and continued fleet expansion aligned with Dubai’s rapid population and tourism growth.
Revenue rose 5% year-on-year to AED 588.3 million, with like-for-like growth of 7%, underpinned by a 26% increase in DTC’s operational fleet to 9,872 vehicles. The company’s taxi segment alone saw a 7% revenue increase to AED 515 million, bolstered by higher trip volumes and the addition of 250 fully electric vehicles, taking the total taxi fleet to over 6,200—86% of which are now hybrid or electric.
DTC also recorded exceptional growth in its delivery bike segment, with revenue soaring 110% amid rising demand in the on-demand delivery market. Meanwhile, its limousine business posted a 3% revenue increase, supported by fleet expansion, contributing to a combined 12.8 million trips completed in the quarter.
However, EBITDA declined 9% year-on-year to AED 154.4 million, and net profit dropped 23% to AED 83.6 million, primarily due to promotional investments tied to the launch of Bolt’s ride-hailing platform under DTC’s digital arm, Connectech. Excluding these promotional costs, core EBITDA rose 4%, with a healthy margin of 30%.
DTC’s new five-year partnership with Dubai Airports, making it the exclusive taxi provider for DXB and DWC, is expected to generate AED 2.5 billion in revenue and over 8 million annual trips by 2029. The integration of Bolt’s e-hailing app into airport taxis has already shown promise, with high download rates and rapid service times.
Supported by a strong balance sheet and growing market demand, DTC remains optimistic about future growth across all segments, driven by Dubai’s ambitious urban and economic expansion.
News Source: Dubai Media Office
