“She said”Dubai taxi“It has added 444 vehicles to its operational fleet since the beginning of the year, bringing the total operational taxi fleet to 5,660 vehicles at the end of the period, but this does not include the 300 new taxi licenses that were recently obtained and were implemented after the end of the period, according to the statement.
The company’s net profits in the first nine months of this year decreased by 7 percent compared to the previous year, reaching 247.1 million dirhams, due to the imposition of corporate tax in the United Arab Emirates and an increase in interest costs.
Dubai Taxi Company maintained a healthy balance sheet as of September 30, 2024, with a low net debt ratio of 1.3 compared to earnings before interest, taxes, depreciation and amortization, and a cash balance of 272.3 million dirhams, including agency deposits, according to the statement.
Mansoor Rahma Al Falasi, CEO of Dubai Taxi Company, said: “We achieved strong results during the first nine months of 2024 as we continued to deliver on growth priorities and prepare the company for future growth. Revenues increased by 13 percent compared to the previous year with a higher EBITDA margin.” By two percentage points to 27 percent, while increasing our share in the taxi market in Dubai to 46 percent, and expanding our fleet in all our sectors.”
