Dubai’s DTC posts 18% revenue growth in Q2 2025 reaching $171mn

The company attributes the growth to fleet expansion and higher trip volumes. For the six-month period, revenue reached AED 1.2 billion, representing an 11 per cent increase compared to the same period in 2024.

The taxi segment generated AED 539.7 million in Q2 2025, up 18 per cent year-on-year, supported by fleet expansion whilst maintaining utilisation levels.

DTC posts robust Q2 performance

The company operated 6,210 vehicles as of June 2025, including 335 electric vehicles as part of its sustainability transition.

DTC’s limousine segment recorded revenue of AED 30.5 million in Q2 2025, an 8 per cent increase year-on-year, driven by fleet expansion.

The combined taxis and limousines segment completed 13.6 million trips during the quarter, up 19 per cent from the previous year. Total operational fleet across all segments reached 10,180 vehicles by June 2025, a 23 per cent increase.

The bus segment revenue declined 12 per cent year-on-year to AED 31.3 million for Q2 2025 due to contractual changes affecting revenue recognition timing. The company stated these changes do not impact annual contract values.

DTC’s delivery bike segment posted revenue growth of 102 per cent year-on-year to AED 18.2 million in Q2 2025, supported by expansion in the on-demand delivery market.

EBITDA increased 30 per cent year-on-year to AED 180.6 million in Q2 2025, driven by higher trips and revenue alongside reduced promotional impact from Connectech, DTC’s subsidiary including Bolt e-hailing operations.

The EBITDA margin reached 29 per cent in the second quarter, up three percentage points, whilst maintaining 28 per cent for the first half.

Net profit rose 33 per cent year-on-year to AED 105.4 million in Q2 2025, representing a 17 per cent net profit margin.

The company maintains a net debt-to-EBITDA ratio of 1.2x and cash balance of AED 236 million as of June 30, 2025, including Wakala deposits.

Abdul Muhsen Ibrahim Kalbat, Chairman, DTC, said in a statement: “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.”

The Board approved a dividend payout for the first half, in line with the company’s policy to distribute at least 85 per cent of annual net profit, Kalbat confirmed.

Mansoor Rahma Alfalasi, CEO, DTC, said: “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.”

Alfalasi also noted a partnership milestone with Bolt, involving the onboarding of over 6,000 taxis to the 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,” he added.

The CEO also explained the company’s alliance with Al-Futtaim Electric Mobility, stating it “reinforces our long-term commitment to sustainability as we advance towards a fully electric fleet by 2040.”

“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,” he said.

DTC’s Board approved dividends of AED 160.7 million, equivalent to 6.43 fils per share for H1 2025, aligned with the company’s policy of distributing at least 85 per cent of annual net profit semi-annually. The interim dividend will be distributed in August 2025.

Growth momentum supports DTC strategy

DTC expanded its partnership with Bolt by onboarding over 6,000 taxis onto the platform, supporting Dubai’s vision to transition 80 per cent of taxi trips to e-booking. This initiative supports DTC’s 2025-2029 strategy to establish itself as the UAE’s largest taxi operator.

The company launched a partnership with Al-Futtaim Electric Mobility Company, deploying 200 BYD SEAL electric taxis across Dubai.

This forms part of DTC’s plan to achieve full fleet electrification by 2040, supporting the UAE’s Net Zero 2050 vision.

Bolt entered a partnership with talabat, offering talabat pro subscribers discounts on Bolt rides, creating integration across transport and delivery platforms.

DTC maintains confidence across all business segments, supported by macroeconomic momentum in Dubai and the UAE.

Continued infrastructure investment, population growth, and tourism inflows are expected to sustain demand for mobility solutions.

The company’s strategic partnership with Dubai Airports positions it to capture value from the emirate’s growth, whilst technology investments and partnerships will unlock new opportunities.