Dubai Taxi Co. Pjsc · DFM:DTC
Dubai Taxi Co. Pjsc — Dubai Taxi Company PJSC — FY2023 Earnings Presentation
27 slides from Dubai Taxi Co. Pjsc's earnings presentation, 2024
Slide 1: Earnings Presentation
Dubai Taxi Company PJSC Earnings Presentation For the year ended 31 December 2023
Slide 2: Disclaimer
Disclaimer Dubai Taxi Company PJSC (“DTC” or the “Company”) has prepared this presentation (“Presentation”). DTC bases its information on sources considered reliable; however, it does not assure its accuracy or completeness. While this presentation may contain projections and forward-looking stateme
Slide 3: Agenda
Agenda 1 Key Highlights 2 Business Overview and Strategy 3 FY 2023 Financial Review 4 Closing Remarks 5 Q&A 6 Appendix
Slide 4: FY 2023 - Key Highlights
FY 2023 - Key Highlights Strong 12-month performance in first results since IPO Revenue EBITDA Net Profit AED 1.95 bn AED 491 mn AED 345 mn 11% YoY 55% YoY 54% YoY Fleet Size (1) Total Drivers (1) Total Trips (2) 7,482 14,915 46 mn 13% YoY 35% YoY 8% YoY Note: (1) Across all business lines as of 31
Slide 5: FY 2023 – Achieved Significant Milestones
FY 2023 – Achieved Significant Milestones Successful IPO Expanded Launched new on DFM beyond Dubai services • Landmark IPO on DFM achieved record oversubscription levels of more than 130 • Added ‘In-Safe Hands’ service to DTC times. app allowing parents of students to pre- • Expanded school and comm
Slide 6: Business Overview & Strategy
Business Overview & Strategy
Slide 7: Dubai's Flagship Mobility Company
Dubai’s Flagship Mobility Company Comprehensive mobility solutions across four key segments Dominant Taxi segment market share #1 22% Cars Taxi Taxi services through Limousine with Chauffeur- School and commercial Last-mile delivery Taxi Operator in Dubai (1) large eco-friendly fleet driven luxury v
Slide 8: Well-Defined Growth Strategy
Well-Defined Growth Strategy 1 Organic Growth Across Segments • Taxi fleet expansion on the back of the underlying market demand and growth of Dubai city area, further supported by scaling up of ancillary segments 2 Investment in Digital Capabilities, Expansion Beyond Dubai and Inorganic Growth • We
Slide 9: Capitalising on Favourable Macro Trends
Capitalising on Favourable Macro Trends Organic growth across all segments underpinned by favourable macro fundamentals Operational efficiency enhancing margins Dubai Resident Population Growth (mn) Expansion of taxi fleet to meet increasing 2.8% 5.8 demand Better fuel efficiency driven by increased
Slide 10: Investing in Digital Capabilities & Expansion
Investing in Digital Capabilities & Expansion Investment in digital capabilities Expansion beyond Dubai & inorganic growth opportunities Strong E-hailing Platform and Valuable Partnerships Umm Al Qaywayn Ras Al Khaimah Ajman Fujairah Develop and strengthen Sharjah partnerships with Abu Dhabi Dubai A
Slide 11: Delivering Growth Sustainably
Delivering Growth Sustainably Largest environmentally RTA’s ESG Strategy friendly fleet in Dubai Hybrid / electric vehicles as a % of Total Fleet (Taxi and limousine) Taxi Bus Environment c.80% 100% 100% 100% Environmentally- Current Targeted Friendly EV and H2 Powered Ahead of RTA Target by 2027 Ta
Slide 12: FY 2023 Financial Review
FY 2023 Financial Review VVVVVVvvvverr
Slide 13: Financial Highlights
Financial Highlights Revenue (AED Million) EBITDA (AED Million) 11.0% EBITDA Margin 18.0% 25.1% 54.9% 23.0% 24.4% 10.7% 17.1% 1,760 1,954 491 317 487 540 112 132 4Q-22 4Q-23 FY22 FY23 4Q-22 4Q-23 FY22 FY23 Net Profit (AED Million) Net CapEx (AED Million) Net Profit Margin 27.5% 12.8% 17.7% 53.9% 18.
Slide 14: Robust Revenue Performance
Robust Revenue Performance Taxi (AED Million) Limousine (AED Million) -14.2% Factors driving Revenue performance 88% of total revenue 11.7% 6% of total revenue during the period: Taxi: Revenue increase driven by increased trips and trip lengths as well -1.9% 134 as higher tariffs, supported by incre
Slide 15: Expanding Gross Profit Margins
Expanding Gross Profit Margins Taxi (AED Million) Limousine (AED Million) Factors driving Gross Profit performance Gross Profit Margin 17.4% 24.5% Gross Profit Margin during the period: 9.5% 13.3% 57.4% 21.0% Taxi: Driven by increased utilisation from improved driver-to-taxi ratio, in addition 23.9%
Slide 16: Attractive EBITDA Margin
Attractive EBITDA Margin EBITDA (AED Million) Factors driving EBITDA performance during the period: EBITDA Margin EBITDA: Up 55% year-on-year to AED 491 in 2023, driven by strong top-line 18.0% 25.1% growth in the taxis segment Margin expansion: DTC delivered an EBITDA margin of 25% in 2023, up from
Slide 17: Solid Net Profit Growth
Solid Net Profit Growth Net Profit (AED Million) Factors driving Net Profit performance during the period: Net Profit Margin Net Profit: Net Profit was AED 345 12.8% 17.7% million in FY 2023, up 54% year-on- year Impressive margin expansion: Net Profit margin increased to 18% in 2023, from 13% in 20
Slide 18: Healthy Balance Sheet
Healthy Balance Sheet Balance Sheet – 31 Dec 23 Net Debt (AED Million) Balance Sheet highlights during the Total: AED1,969.14 million Net Debt / LTM EBITDA period: Other Assets 7% 3% Due to Related Parties Solid Balance Sheet: Significant cash N/A 1.3x balance of AED 338 million at the end of Cash &
Slide 19: Attractive Dividend Profile
Attractive Dividend Profile DTC has announced its first dividend as a publicly listed Company, at AED Dividend policy is designed to Semi-annual Targeting dividend 71 million for 4Q- 23 reflect the Company’s dividends to be paid distribution of at least expectation of strong cash flow by April and O
Slide 20: Closing Remarks
Closing Remarks
Slide 21: Summary
Summary Positive Macro Clear market Robust Financial Multiple Strategic Attractive Environment Leadership Performance Levers Dividend Population and tourism Number 1 Taxi operator Delivering robust Expanding fleet size, Attractive Dividend growth coupled with the in Dubai by market share financial p
Slide 22: Q&A Session
Q&A Session
Slide 23: Appendix
Appendix
Slide 24: DTC: Driving the Mobility Vision of Dubai
DTC: Driving the Mobility Vision of Dubai 1 Operating in an Attractive Market with Strong Macro Tailwinds 2 Largest Taxi Operator in Dubai with a Dominant Market Share 3 Favorable Taxi Regulatory Framework, Creating High Barriers to Entry 4 Leading Comprehensive UAE Mobility Company with Focused Wor
Slide 25: Leading Provider of Comprehensive Mobility Solutions in Dubai
Leading Provider of Comprehensive Mobility Solutions in Dubai DTC’s dominant leadership and operational strength helps expand other mobility businesses Business Unit # of Vehicles (1) 5,216 387 1,127 752 Key Divisional Highlights 44% Market Share (2) 1m+ Trips p.a. (3) 11% Market Share (5) 1m+ Total
Slide 26: Overview of DTC's Taxi Business Model
Overview of DTC’s Taxi Business Model Roads & Transport Authority • All companies operating pursuant to a Franchise Agreement with RTA 1 • Each operator to pay a monthly franchise fee Supervises and regulates the taxi sector Payment of monthly Assigns new Taxi fares set by License plate franchise fe
Slide 27: For enquiries, please contact Investor Relations
For enquiries, please contact Investor Relations: ir@dtc.gov.ae
Dubai Taxi Company PJSC — FY2023 Earnings Presentation on 6ix