Dubai Taxi Co. Pjsc · DFM:DTC
Dubai Taxi Co. Pjsc — Dubai Taxi Company PJSC — Q2 2024 Earnings Presentation
21 slides from Dubai Taxi Co. Pjsc's earnings presentation, Jun 30, 2024
Slide 1: Earnings Presentation
Dubai Taxi Company PJSC Earnings Presentation For the second quarter ended 30 June 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 - H1 2024
Key Highlights - H1 2024 Strong financial and operational performance Revenue EBITDA Net Profit AED 1,090 mn AED 309 mn AED 187 mn 14% YoY 27% YoY 1% YoY Fleet Size (1) Total Drivers (1) Total Trips (2) 8,247 17,125 23.3 mn 15% YoY 24% YoY 4% YoY Note: (1) Across all business lines as of 30 June 202
Slide 5: Achieving New Milestones in Q2 2024
Achieving New Milestones in Q2 2024 Strong Operational Highly Regarded Delivering Shareholder Momentum Equity Value • Signed strategic agreement with • Included in the MSCI Small Cap • Announced interim dividend of talabat UAE, the region’s leading Index and S&P UAE Shariah AED 159.3 million for H1
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 21% 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 Organic fleet size and market share expansion of core Taxi and Limousine 1 segment Enhanced efficiency through technological adoption (e-hailing), economies 2 of scale, improved utilisation and fuel-efficient vehicles Expansion of Bus and Bike segments leveraging DTC rob
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) Record Breaking Passenger Traffic at DXB Expansion of taxi fleet to meet increasing 2.8% 5.8 Dubai International Airport (DXB) recorded its bu
Slide 10: Q2 and H1 2024 Financial Review
Q2 and H1 2024 Financial Review
Slide 11: Financial Highlights
Financial Highlights Revenue (AED Million) EBITDA (AED Million) 13.9% EBITDA Margin 25.4% 28.4% 27.1% 11.6% 25.7% 26.2% 1,090 13.9% 957 309 476 531 243 122 139 Q2 23 Q2 24 H1 23 H1 24 Q2 23 Q2 24 H1 23 H1 24 Net Profit (AED Million) Net CapEx (AED Million) Net Profit Margin 19.5% 17.2% 17.3% 0.6% 12
Slide 12: Growing Revenue Across all Segments
Growing Revenue Across all Segments Taxi (AED Million) Limousine (AED Million) 12.4% Factors driving Revenue performance 86% of total revenue 6% of total revenue 6.1% during the period: Taxi: Revenue increase driven by 10.0% 939.0 5.1% increased trips and trip lengths 835.8 58.1 61.7 supported by an
Slide 13: Delivering Solid Gross Profit
Delivering Solid Gross Profit Taxi (AED Million) Limousine (AED Million) Factors driving Gross Profit performance 25.6% 24.4% 11.0% 19.3% during the period: 6.9% 86.1% Taxi: Slight decline in Q2 2024 gross profit 24.1% 21.5% 10.6% 13.5% due to an increase in operating costs, -2.1% 34.4% primarily st
Slide 14: Disciplined Cost Management
Disciplined Cost Management Total Operating Expenses Breakdown (AED Million) Commentary on operating expenses during the period: 443 10 • Staff costs represented the majority of 387 57 expenses during the period amounting 8 to 35% of total expenses, and 50 16 18 Other G&A increasing by 15% YoY drive
Slide 15: Attractive EBITDA Margin and Like-for-Like Net Profit Growth
Attractive EBITDA Margin and Like-for-Like Net Profit Growth EBITDA (AED Million) EBITDA Margin Factors driving EBITDA performance during the period: 26.2% 25.7% • EBITDA increased 14% YoY to AED 139 million in Q2 2024, driven by strong top-line growth across all segments as well as rationalisation
Slide 16: Healthy Balance Sheet
Healthy Balance Sheet Balance Sheet – 30 June 24 Net Debt (AED Million) Balance Sheet highlights during the Total: AED 2,146.8 million Net Debt / LTM EBITDA period: Other Assets 5% 4% Due to Related Parties Solid Balance Sheet: Significant cash 1.1x 1.1x balance of AED 374 million at 30 June Cash &
Slide 17: Attractive Dividend Profile
Attractive Dividend Profile Policy is designed to reflect the Dividend policy with Announced interim Targeting dividend Company’s expectation of semi-annual dividend dividend for H1 2024 distribution of at least strong cash flow and expected distributions to of AED 159.3 million, 85% of annual net p
Slide 18: Closing Remarks
Closing Remarks
Slide 19: 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 20: Q&A Session
Q&A Session
Slide 21: For enquiries, please contact Investor Relations
For enquiries, please contact Investor Relations: ir@dtc.gov.ae
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