By uniting the efforts of two of the emirate's leading mobility companies, we are contributing to the promotion of innovation, efficiency, and sustainability in line with Dubai's vision to transform 80% of taxi trips to electronic booking. The delivery bike sector also continued to achieve strong growth rates, with Q3 2025 revenues increasing by 62% compared to the previous year to reach AED 183 million. The company's taxi and limousine vehicles completed 13.1 million trips in Q3 2025, an increase of 7% compared to the previous year, driven by the continued growth of Dubai's tourism sector and ongoing fleet productivity improvements. This collaboration brings together two of Dubai's largest mobility companies with a combined market share of 72% and closely aligns with the Dubai government's goal of transitioning 80% of taxi trips to e-hailing as part of the Roads and Transport Authority's smart mobility vision. Furthermore, Dubai Taxi continued to create added value through its strategic partnership with 'Bolt', achieving strong operational momentum in Q3 2025. We achieved strong results across all key indicators, with robust revenue and profitability growth driven by sustainable demand in the taxi, limousine, and delivery sectors, supported by a tourism boom and Dubai's growing population. The company also continues to evaluate numerous new partnerships in mobility and technology to enhance service integration and create new income streams through its expanding ecosystem. During this quarter, 3,680 Careem taxis were successfully added to the Bolt network, while new corporate partnerships with Mastercard and Emirates NBD Bank enhanced the Bolt platform's brand presence and opened new channels for revenue growth. Outlook Dubai Taxi has strong operational and financial foundations that enable it to achieve sustainable long-term growth, supported by Dubai's thriving economy, population growth, expanding tourism sector, and increasing investments in transport infrastructure. By focusing on enhancing efficiency, digital empowerment, and fleet improvement, the company aims to improve profit margins and move towards its goal of having a fully electric fleet by 2040. Key Operational Achievements In line with its continuous growth strategy, Dubai Taxi has continued to expand its mobility ecosystem and strengthen its position as a leader in smart and sustainable mobility solutions. In this context, the company signed a strategic agreement with 'Careem' in Q3, under which the combined fleet of both companies—comprising 6,215 Dubai Taxi taxis and 3,680 Careem taxis—will be linked on the 'Bolt' and 'Z' e-hailing platforms. Q3 revenues increased by 15% compared to the same period last year to reach AED 585.3 million, driven by operational activities and an increase in the number of trips. One of the highlights of this quarter was the launch of our strategic partnership with 'Careem', which represents a pivotal step in developing Dubai's smart mobility ecosystem. Dubai Taxi PJSC, a leading provider of comprehensive mobility solutions in Dubai, today announced its financial results for the three months ended September 30, 2025 (the third quarter of 2025 or the 'Quarter') and the nine-month period ended September 30, 2025 (the first nine months of 2025 or the 'Period'). The company achieved strong operational and financial performance in Q3 2025, supported by the expansion of its fleet and sustained demand across various mobility service segments. For the first nine months of 2025, the company's revenues increased by 13% compared to the same period last year to reach AED 1.8 billion, reflecting the strength of operational performance and the sustainability of growth throughout the year. Operational Sector Performance The taxi sector recorded a 12% revenue increase to reach AED 506.0 million, thanks to fleet expansion which reached 6,215 vehicles by September 2025, including 401 fully electric vehicles as part of the strategy to shift towards sustainable and efficient mobility solutions. The limousine sector, on the other hand, achieved a slight revenue increase of 1% compared to the same period last year to reach AED 27.8 million in Q3 2025, as a result of fleet enhancement with additional vehicles. In contrast, the bus sector delivered outstanding performance with a 90% increase in revenues to reach AED 29.8 million due to the modification of a major contract's terms, while maintaining a net profit margin of 13%, reflecting a significant increase in operating profits. Dubai Taxi maintains strong financial standing with an appropriate net debt to EBITDA ratio of 1.5 and a cash balance of AED 680 million as of September 30, 2025. In August 2025, the company distributed dividends of AED 1.607 billion for the first half of 2025, equivalent to 6.43 fils per share, in accordance with its dividend policy targeting the distribution of not less than 85% of the company's annual net profit. Commenting on the results, Mansoor Rahma Al Falasi, CEO of Dubai Taxi, said: 'Our excellent performance in Q3 is built on the continuous successes we achieved in the first half of 2025, reflecting our firm commitment to disciplined execution and operational efficiency.' The company's total operational fleet across all sectors grew by 19% to reach 10,500 vehicles by September 2025, reflecting the company's successful strategy to expand its fleet capacity. Financial Performance EBITDA increased by 23% compared to the same period last year to reach AED 151.4 million. This increase was driven by a significant rise in the number of trips and revenues, coupled with the reduced impact of promotional activities from Dubai Taxi's subsidiary 'Connect', which operates the 'Bolt' e-hailing platform. The EBITDA margin also increased by 2 percentage points to reach 26% in Q3 and 27% for the first nine months of 2025, reflecting the continuous focus on improving operational efficiency. Net profit in Q3 2025 increased by 28% compared to the same period last year to reach AED 76.4 million. Since the partnership's launch in December 2024, the Bolt app has recorded over 652,000 downloads with more than 27,000 vehicles registered on the platform, including Dubai Taxi's fleet of 6,215 taxis, as well as the onboarding of 277 transport companies to date.
