Dubai Taxi Company posts $272m H1 revenue, conflict impacts results

Dubai Taxi Company (DTC), a leading provider of comprehensive mobility solutions in the UAE, said DTC maintained resilient operations during Q2 2026 and H1 2026 despite a challenging operating environment across much of the quarter.

Revenue for Q2 2026 amounted to AED484.5 million, compared with AED625.1 million in Q2 2025. For H1 2026, revenue totalled AED1.0 billion ($272.29 million), compared with AED1.2 billion in H1 2025, reflecting a strong start to the year in January and February, followed by softer demand conditions from March and through the second quarter.

Financial Performance

DTC's EBITDA for Q2 2026 declined 57.2% year-on-year to AED77.2 million, reflecting the continued impact of softer airport and tourism-related demand during April and May. Performance improved sequentially through the quarter as mobility activity recovered, while continued operational efficiencies helped partially offset the impact of lower trip volumes. EBITDA margin for the quarter was 15.9%, compared with 28.9% in Q2 2025.

Net profit for Q2 2026 totalled AED10.4 million, compared with AED105.4 million in Q2 2025. For H1 2026, net profit reached AED61.1 million, reflecting the more challenging operating environment experienced during the second quarter. Despite this, improving mobility activity through June provides encouraging signs of stabilisation heading into the second half of the year.

DTC maintained a healthy balance sheet, with a conservative net debt-to-EBITDA ratio of 1.1x and cash and cash equivalents of AED 409 million[1], as at 30 June 2026.

Uncertainty impact

Following the heightened regional uncertainty that emerged in March, softer airport- and tourism-related demand continued to weigh on performance, particularly across the taxi and limousine segments, the company said. 

Despite these external pressures, the business remained fully operational across all segments, with no disruption to service delivery, and trip volumes improved in June to 11.2% below June 2025, pointing to an early normalisation in activity.

Segment performance

Across the taxi and limousine segments, DTC completed 10.3 million trips during Q2 2026, compared with 13.6 million in Q2 2025. While overall trip volumes declined, the activity improved progressively throughout the quarter, with taxi and limousine trips increasing by approximately 31.0% between April and June. 

On a year-on-year basis, April trips declined by approximately 36.7%, improving to a 24.4% decline in May and 11.2% decrease in June, reflecting encouraging signs of recovery in underlying mobility demand. 

As of June 2026, DTC's total operational fleet across all business segments increased to 11,928 vehicles, reflecting the Company's continued investment in long-term capacity growth.

DTC's taxi segment recorded revenue of AED396.8 million in Q2 2026, compared with AED539.7 million in Q2 2025, reflecting softer airport and tourism-related demand during April and May. 

Activity improved progressively through the quarter, with June showing a 30.9% increase in taxi trip volume when compared with April. As of June 2026, DTC’s operational taxi fleet stood at 6,522 vehicles, including 669 fully electric vehicles, reflecting continued investment in fleet expansion and the Company’s transition toward a more sustainable fleet.

The limousine segment recorded revenue of AED24.5 million in Q2 2026, compared with AED30.5 million in the prior-year period, primarily reflecting reduced airport activity and lower international visitor demand. The bus segment generated revenue of AED 32.0 million, an increase of 2.3% year-on-year, supported by the continued contribution of long-term government contracts.

The delivery bike segment continued to demonstrate resilient growth during Q2 2026, generating revenue of AED27.9 million, an increase of 53.1% year-on-year, supported by sustained momentum in the UAE’s fast-growing on-demand delivery market.

DTC’s Group CEO, Mansoor Rahma Alfalasi, commented: "DTC maintained resilient operations during the second quarter whilst continuing to execute against its long-term growth strategy. While the operating environment remained challenging across much of the quarter, particularly in airport- and tourism-related demand, we remained fully operational across all segments and continued to serve customers across the UAE.

“We are encouraged by the sequential improvement in mobility activity through May and June, which provides early signs of normalisation and we remain confident in Dubai’s long-term macroeconomic fundamentals, supported by ongoing urbanisation, population growth and continued investment in transport infrastructure across the emirate.

“We have also continued to make important strategic progress including successfully completing the acquisition of National Taxi post period end creating the UAE’s leading mobility company, driving regional expansion across the UAE and further developing our digital mobility platform.”

Strategic & operational highlights

DTC continued to execute against its five-year strategy during H1 2026, with a focus on regional expansion, digital enablement and long-term platform development.

In April, DTC announced the acquisition of a further 600 new taxi licence plates through the latest auction conducted by the Dubai Roads and Transport Authority (RTA), reinforcing its position as Dubai’s largest taxi operator and increasing its market share to 46% (59% including National Taxi).

DTC also strengthened its digital mobility ecosystem through the expansion of the Bolt platform into Abu Dhabi. Initially launching limousine services, followed by taxi services, the expansion broadens Bolt’s regional footprint and further supports DTC’s strategy to increase adoption of digital mobility services across the UAE.

DTC also expanded into Ajman, further broadening its geographic footprint across the UAE. Together, these initiatives represent important milestones in DTC’s ambition to establish a scaled, multi-emirate mobility platform.

Post period end, DTC announced the successful completion of its acquisition of 100% of National Taxi, following receipt of all required regulatory approvals. The transaction strengthens DTC’s leadership position in Dubai with an approximately 59% combined market share, establishes a meaningful presence in Abu Dhabi with an approximately 12% market share, and creates the UAE’s largest taxi operator with a combined taxi fleet exceeding 9,000 vehicles. The acquisition is expected to be earnings accretive from the first full year of ownership, with further upside from identified operational synergies. - TradeArabia News Service