Dubai Taxi Co. Pjsc · DFM:DTC
Dubai Taxi Co. Pjsc — Dubai Taxi Company PJSC — Q1 2024 Earnings Presentation
23 slides from Dubai Taxi Co. Pjsc's earnings presentation, 2024
Slide 1: Earnings Presentation
Dubai Taxi Company PJSC Earnings Presentation For the first quarter ended 31 March 2024
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 Financial Review 4 Closing Remarks 5 Q&A 6 Appendix
Slide 4: Key Highlights - Q1 2024
Key Highlights - Q1 2024 Strong financial and operational performance Revenue EBITDA Net Profit AED 558 mn AED 170 mn AED 108 mn 16% YoY 40% YoY 15% YoY Fleet Size (1) Total Drivers (1) Total Trips (2) 7,838 15,968 12 mn 14% YoY 25% YoY 8% YoY Note: (1) Across all business lines as of 31 March 2024.
Slide 5: Achieved Significant Developments
Achieved Significant Developments • Doubling of airport taxi fleet with the addition of 350 new dedicated vehicles • Acquired 94 new taxi licenses at RTA’s latest auction in Q1 2024 • DTC increasing market share as new fleet is being rolled out, cementing position as the largest taxi operator in Dub
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 Dubai Resident Population Growth (mn) #1 Global Destination Expansion of taxi fleet to meet increasing 2.8% 5.8 Dubai retains the top spot on Tripadvisor Travellers' demand Choice
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.85% 100% 100% 100% Environmentally- Current Targeted Friendly EV and H2 Powered Ahead of RTA Target by 2027 Ta
Slide 12: Q1 2024 Financial Review
Q1 2024 Financial Review VVVVVVvvvverr
Slide 13: Financial Highlights
Financial Highlights Revenue (AED Million) EBITDA (AED Million) 16.2% EBITDA Margin 25.2% 24.4% 30.4% 3.4% 40.4% 29.2% 558 540 170 121 132 480 Q1-23 Q4-23 Q1-24 Q1-23 Q4-23 Q1-24 Net Profit (AED Million) Net CapEx (AED Million) Net Profit Margin 19.6% 14.5% 19.3% 32.5% 14.9% 45.1% 38.2% 108 77 94 78
Slide 14: Robust Revenue Performance
Robust Revenue Performance Taxi (AED Million) Limousine (AED Million) Factors driving Revenue performance 86% of total revenue 6% of total revenue during the period: 14.7% 6.7% 16.8% 3.1% Taxi: Revenue increase driven by increased trips and trip lengths as well as higher tariffs, supported by increa
Slide 15: Expanding Gross Profit Margins
Expanding Gross Profit Margins Taxi (AED Million) Limousine (AED Million) Factors driving Gross Profit performance during the period: 27.0% 25.2% 27.3% 11.3% 17.4% 23.8% 15.7% 11.6% 124.1% Taxi: Driven by increased utilisation from 59.2% improved driver-to-taxi ratio, in addition to realising fuel c
Slide 16: Attractive EBITDA Margin
Attractive EBITDA Margin EBITDA (AED Million) Factors driving EBITDA performance during the period: EBITDA Margin EBITDA: Up 40% year-on-year to AED 30.4% 170 million in Q1-24, driven by strong top- line growth across all segments and reduced fuel and maintenance expenses 25.2% Margin expansion: DTC
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 108 19.6% 19.3% million in Q1-24, up 15% year-on-year, impacted by the introduction of corporate tax for FY 2024. Excluding the tax impact Net P
Slide 18: Healthy Balance Sheet
Healthy Balance Sheet Balance Sheet – 31 March 24 Net Debt (AED Million) Balance Sheet highlights during the Total: AED 2,066.6 million Net Debt / LTM EBITDA period: Other Assets 4% 2% Due to Related Parties Solid Balance Sheet: Significant cash 1.3x 1.1x balance of AED 412 million at 31 March Cash
Slide 19: Attractive Dividend Profile
Attractive Dividend Profile Dividend policy is designed to Semi-annual DTC paid first dividend Targeting dividend reflect the Company’s dividends to be paid as a publicly listed distribution of at least expectation of strong cash flow in April and October company, of AED 71 85% of annual net profit
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: For enquiries, please contact Investor Relations
For enquiries, please contact Investor Relations: ir@dtc.gov.ae
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