Latest news with #Kalbat
Arabian Business
29-07-2025
- Automotive
- Arabian Business
Dubai's DTC posts 18% revenue growth in Q2 2025 reaching $171mn
Dubai Taxi Company PJSC (DTC) posted revenue of AED 625.2 million for the three months ending June 30, 2025, marking an 18 per cent increase year-on-year. The company attributes the growth to fleet expansion and higher trip volumes. For the six-month period, revenue reached AED 1.2 billion, representing an 11 per cent increase compared to the same period in 2024. The taxi segment generated AED 539.7 million in Q2 2025, up 18 per cent year-on-year, supported by fleet expansion whilst maintaining utilisation levels. DTC posts robust Q2 performance The company operated 6,210 vehicles as of June 2025, including 335 electric vehicles as part of its sustainability transition. DTC's limousine segment recorded revenue of AED 30.5 million in Q2 2025, an 8 per cent increase year-on-year, driven by fleet expansion. The combined taxis and limousines segment completed 13.6 million trips during the quarter, up 19 per cent from the previous year. Total operational fleet across all segments reached 10,180 vehicles by June 2025, a 23 per cent increase. The bus segment revenue declined 12 per cent year-on-year to AED 31.3 million for Q2 2025 due to contractual changes affecting revenue recognition timing. The company stated these changes do not impact annual contract values. DTC's delivery bike segment posted revenue growth of 102 per cent year-on-year to AED 18.2 million in Q2 2025, supported by expansion in the on-demand delivery market. EBITDA increased 30 per cent year-on-year to AED 180.6 million in Q2 2025, driven by higher trips and revenue alongside reduced promotional impact from Connectech, DTC's subsidiary including Bolt e-hailing operations. The EBITDA margin reached 29 per cent in the second quarter, up three percentage points, whilst maintaining 28 per cent for the first half. Net profit rose 33 per cent year-on-year to AED 105.4 million in Q2 2025, representing a 17 per cent net profit margin. The company maintains a net debt-to-EBITDA ratio of 1.2x and cash balance of AED 236 million as of June 30, 2025, including Wakala deposits. Abdul Muhsen Ibrahim Kalbat, Chairman, DTC, said in a statement: 'Our results reflect the continued strength of our operating model and our ability to deliver value through consistent execution and customer-focused innovation. We are proud to operate in a market as dynamic and forward-looking as Dubai and the wider UAE, where strong population growth, record infrastructure investment, and robust economic indicators continue to support long-term demand for smart mobility solutions, and we are well-positioned to capitalise on these positive trends.' The Board approved a dividend payout for the first half, in line with the company's policy to distribute at least 85 per cent of annual net profit, Kalbat confirmed. Mansoor Rahma Alfalasi, CEO, DTC, said: 'Our performance in the second quarter and first half of 2025 underscores our disciplined execution and sustained operational progress. We continue to see strong momentum across our core segments, driven by expanding fleet capabilities and increasing demand for smart, customer-centric mobility solutions.' Alfalasi also noted a partnership milestone with Bolt, involving the onboarding of over 6,000 taxis to the platform. 'This milestone represents a significant step forward in our ambition to build the UAE's largest e-hailing ecosystem. It exemplifies our commitment to creating integrated, digital-first mobility solutions that elevate everyday convenience and reshape the customer experience,' he added. The CEO also explained the company's alliance with Al-Futtaim Electric Mobility, stating it 'reinforces our long-term commitment to sustainability as we advance towards a fully electric fleet by 2040.' 'Our business is underpinned by strong fundamentals, a solid financial position, and a platform built for sustainable growth. As we look to the future, our focus remains on driving operational excellence, elevating the customer journey, and unlocking new opportunities within Dubai's and the UAE's dynamic and fast-growing mobility landscape,' he said. DTC's Board approved dividends of AED 160.7 million, equivalent to 6.43 fils per share for H1 2025, aligned with the company's policy of distributing at least 85 per cent of annual net profit semi-annually. The interim dividend will be distributed in August 2025. Growth momentum supports DTC strategy DTC expanded its partnership with Bolt by onboarding over 6,000 taxis onto the platform, supporting Dubai's vision to transition 80 per cent of taxi trips to e-booking. This initiative supports DTC's 2025-2029 strategy to establish itself as the UAE's largest taxi operator. The company launched a partnership with Al-Futtaim Electric Mobility Company, deploying 200 BYD SEAL electric taxis across Dubai. This forms part of DTC's plan to achieve full fleet electrification by 2040, supporting the UAE's Net Zero 2050 vision. Bolt entered a partnership with talabat, offering talabat pro subscribers discounts on Bolt rides, creating integration across transport and delivery platforms. DTC maintains confidence across all business segments, supported by macroeconomic momentum in Dubai and the UAE. Continued infrastructure investment, population growth, and tourism inflows are expected to sustain demand for mobility solutions. The company's strategic partnership with Dubai Airports positions it to capture value from the emirate's growth, whilst technology investments and partnerships will unlock new opportunities.
Roya News
27-06-2025
- Business
- Roya News
Dubai Metro station officially renamed "National Paints"
Dubai's Roads and Transport Authority (RTA) has granted the naming rights of Jebel Ali Metro Station to National Paints Factories Co. Ltd. (National Paints), the region's largest paints and coatings manufacturer. Strategically located in one of Dubai's most dynamic and rapidly evolving industrial hubs, Jebel Ali Free Zone, the station will now be known as National Paints Metro Station for the next 10 years. The agreement was signed between National Paints and Hypermedia, with Mada Media attending in its capacity as the authorised concessionaire appointed by RTA under a concession agreement between Mada Media and RTA. Providing further details, Abdul Mohsen Kalbat, CEO of the RTA's Rail Agency, said: "We are delighted to have National Paints join the Metro Station Naming Rights Initiative. The inclusion of this prestigious global company undoubtedly demonstrates the remarkable success achieved by this initiative, which had attracted diverse companies and establishments from the business sector across the UAE as a whole." Kalbat added: "The RTA is keen to expand and strengthen ties and cooperation with the business sector, not only in Dubai but also across the UAE. This cooperation reflects the government's approach to consolidating cooperation with the private sector based on the exchange of knowledge and expertise and the provision of business opportunities for this sector, which is considered a strategic partner of the government sector. This cooperation also plays a pivotal role in creating promising job opportunities that attract diverse specialisations, enriching the business sector and contributing to the growth of UAE's GDP in general, and the Emirate of Dubai's, in particular.' Mohamad Al Hammadi, CEO of Mada Media, commented on launching this strategic project with National Paints Factories Co., stating: 'This new milestone with National Paints reinforces our long-term vision with RTA of transforming metro stations into powerful commercial and advertising landmarks. Through naming rights, we're not just creating visibility, we're building strategic brand presence in high-impact urban touchpoints.' He added: 'National Paints' investment in this station underscores the value of transit media in shaping consumer engagement and enhancing top-of-mind awareness in one of the region's most dynamic cities.' Samer Sayegh, Managing Director and Partner of National Paints, expressed his enthusiasm for the partnership, saying: 'We are proud to partner with RTA, to secure the naming rights of a metro station that stands as a key connector in Dubai's world-class transportation network. This milestone reflects our bold, decade-long commitment to enriching the Emirates' urban landscape through innovative solutions, sustainability, and high-quality products.' He continued: 'As a company born in 1969 in Amman, Jordan and proudly rooted in Sharjah since 1977, National Paints has long been an integral part of the Emirates' economic and urban transformation. Our presence on the metro reinforces our position as the Middle East's number one coatings brand, and deepens our connection to the communities we've proudly served for generations, and those yet to come'. From July and running through the end of October 2025, RTA will begin updating and renaming all relevant external and internal directional signage across Metro stations. The new name will also be reflected across RTA's smart digital systems, public transport applications, and onboard audio announcements prior to and upon arrival at the station. About National Paints Factories Co. Ltd. Founded in 1969 by the Sayegh family in Amman, Jordan, and headquartered in Sharjah, UAE since 1977, National Paints is the largest paint and coatings manufacturer in the Middle East and ranks 29th globally. The company operates 15 paint factories, 5 resin plants, and more than 60 integrated production lines across seven key markets: the UAE (Sharjah and Abu Dhabi), Jordan, Saudi Arabia, Egypt, Oman, Romania, and India. With a global annual production capacity exceeding 1 million metric tons, National Paints' Sharjah facility alone spans 130,000 sqm and produces over 500,000 metric tons annually across 15 integrated lines, making it the largest paint manufacturing plant in the region. National Paints offers one of the industry's most diverse and comprehensive coatings portfolios under one roof, including decorative, industrial, marine, automotive, powder, wood, and architectural coatings. Its products are trusted in over 80 countries worldwide.
Gulf Today
26-06-2025
- Business
- Gulf Today
Dubai changes name of Jebel Ali Metro Station to National Paints station for the next 10 years
Dubai's Roads and Transport Authority (RTA) has granted the naming rights of Jebel Ali Metro Station to National Paints Factories Co. Ltd. (National Paints), the region's largest paints and coatings manufacturer. Strategically located in one of Dubai's most dynamic and rapidly evolving industrial hubs, Jebel Ali Free Zone, the station will now be known as National Paints Metro Station for the next 10 years. The agreement was signed between National Paints and Hypermedia, with Mada Media attending in its capacity as the authorised concessionaire appointed by RTA under a concession agreement between Mada Media and RTA. Providing further details, Abdul Mohsen Kalbat, CEO of the RTA's Rail Agency, said: "We are delighted to have National Paints join the Metro Station Naming Rights Initiative. The inclusion of this prestigious global company undoubtedly demonstrates the remarkable success achieved by this initiative, which had attracted diverse companies and establishments from the business sector across the UAE as a whole." Kalbat added: "The RTA is keen to expand and strengthen ties and cooperation with the business sector, not only in Dubai but also across the UAE. This cooperation reflects the government's approach to consolidating cooperation with the private sector based on the exchange of knowledge and expertise and the provision of business opportunities for this sector, which is considered a strategic partner of the government sector. This cooperation also plays a pivotal role in creating promising job opportunities that attract diverse specialisations, enriching the business sector and contributing to the growth of UAE's GDP in general, and the Emirate of Dubai's, in particular.' "Mohamad Al Hammadi, CEO of Mada Media, commented on launching this strategic project with National Paints Factories Co., stating: 'This new milestone with National Paints reinforces our long-term vision with RTA of transforming metro stations into powerful commercial and advertising landmarks. Through naming rights, we're not just creating visibility, we're building strategic brand presence in high-impact urban touchpoints.' He added: 'National Paints' investment in this station underscores the value of transit media in shaping consumer engagement and enhancing top-of-mind awareness in one of the region's most dynamic cities.' Samer Sayegh, Managing Director and Partner of National Paints, expressed his enthusiasm for the partnership, saying: 'We are proud to partner with RTA, to secure the naming rights of a metro station that stands as a key connector in Dubai's world-class transportation network. This milestone reflects our bold, decade-long commitment to enriching the Emirates' urban landscape through innovative solutions, sustainability, and high-quality products.' He continued: 'As a company born in 1969 in Amman, Jordan and proudly rooted in Sharjah since 1977, National Paints has long been an integral part of the Emirates' economic and urban transformation. Our presence on the metro reinforces our position as the Middle East's number one coatings brand and deepens our connection to the communities we've proudly served for generations, and those yet to come'. From July and running through the end of October 2025, RTA will begin updating and renaming all relevant external and internal directional signage across Metro stations. The new name will also be reflected across RTA's smart digital systems, public transport applications, and onboard audio announcements prior to and upon arrival at the station.
Campaign ME
19-03-2025
- Business
- Campaign ME
RTA grants naming rights to Al Fardan Exchange of Al Khail metro station
Dubai's Roads and Transport Authority (RTA) has signed an agreement granting Al Fardan Exchange the naming rights for Al Khail Metro Station, which will now be known as Al Fardan Exchange Metro Station. This naming rights agreement presents a valuable branding opportunity for Al Fardan Exchange, leveraging Dubai Metro's prime locations to enhance brand visibility and enable direct engagement with a diverse commuter base. As part of this agreement, Al Fardan Exchange will receive exclusive brand representation, complemented by a suite of advanced technologies and smart solutions. This will enhance brand visibility and create a seamless, interactive experience, facilitating meaningful engagement between brands and consumers within the metro station environment. Abdul Muhsen Kalbat, CEO of the Rail Agency at RTA, expressed his delight in signing the agreement with one of the country's leading financial services providers, describing it as a pivotal and dynamic step toward establishing a long-term, mutually beneficial economic partnership between RTA and Al Fardan Exchange. Kalbat stated: 'The metro station naming rights initiative is a cornerstone of public-private partnerships, with RTA representing the public sector and Al Fardan Exchange the private sector. Our visionary government strongly advocates such collaborations to drive national economic growth and promote diversification, which also paves the way for the private sector to align with the government's vision in this regard.' 'Dubai Metro station's naming rights initiative has been a resounding success since its launch. RTA remains committed to fostering robust partnerships with the private sector, recognising its crucial role in driving economic, commercial, and service sector growth at all levels. This successful public-private partnership model facilitates knowledge exchange, expertise sharing, and job creation across multiple industries,' Kalbat added. Hasan Fardan Al Fardan, CEO at Al Fardan Exchange, stated: 'We are proud to partner with RTA to secure the naming rights for a key station in Dubai's Metro system. As a company with deep roots in Emirati heritage and a forward-looking vision for the future, we see this partnership as a perfect reflection of our values. Public transportation is the lifeline of any modern city, and Dubai's metro system is a testament to the emirate's innovative approach to urban mobility.' 'At Al Fardan Exchange, our mission has always been to empower individuals by providing seamless financial solutions. With millions of commuters relying on the metro daily, this partnership allows us to further support and engage with our customers in a meaningful way. We look forward to working closely with RTA to enhance the passenger experience while strengthening our connection to the community we have proudly served for generations,' he mentioned. Effective media campaigns and immersive brand experiences generate mutual value for both brands and metro passengers. Through this exclusive agreement, Al Fardan Exchange will leverage the strategic location of one of Dubai's most iconic landmarks – Dubai Metro – to maximise brand exposure and elevate consumer engagement. Metro riders will also benefit from a comprehensive range of cutting-edge smart solutions seamlessly integrated within Dubai Metro's advanced network. From April to the end of June 2025, RTA will be updating and renaming the station names on the external as well as the indoor directional signages for all Metro Stations. The new name will also be updated on the digital smart systems and RTA's public transport apps along with the onboard audio announcements before and at the time of arriving at the station. RTA calls upon the metro riders to note this change of name of the station. In the meantime, passengers can request assistance from RTA's teams at the stations to give further details.
Zawya
19-03-2025
- Business
- Zawya
Dubai's RTA grants naming rights to Al Fardan Exchange of Al Khail Metro Station
DUBAI – Dubai's Roads and Transport Authority (RTA) has signed an agreement granting Al Fardan Exchange the naming rights for Al Khail Metro Station, which will now be known as Al Fardan Exchange Metro Station. This naming rights agreement presents a valuable branding opportunity for Al Fardan Exchange, leveraging Dubai Metro's prime locations to enhance brand visibility and enable direct engagement with a diverse commuter base. As part of this agreement, Al Fardan Exchange will receive exclusive brand representation, complemented by a suite of advanced technologies and smart solutions. This will enhance brand visibility and create a seamless, interactive experience, facilitating meaningful engagement between brands and consumers within the metro station environment. Abdul Muhsen Kalbat, CEO of the Rail Agency at RTA, expressed his delight in signing the agreement with one of the country's leading financial services providers, describing it as a pivotal and dynamic step toward establishing a long-term, mutually beneficial economic partnership between RTA and Al Fardan Exchange. Kalbat stated: "The metro station naming rights initiative is a cornerstone of public-private partnerships, with RTA representing the public sector and Al Fardan Exchange the private sector. Our visionary government strongly advocates such collaborations to drive national economic growth and promote diversification, which also paves the way for the private sector to align with the government's vision in this regard." "Dubai Metro station's naming rights initiative has been a resounding success since its launch. RTA remains committed to fostering robust partnerships with the private sector, recognising its crucial role in driving economic, commercial, and service sector growth at all levels. This successful public-private partnership model facilitates knowledge exchange, expertise sharing, and job creation across multiple industries,' Kalbat added. Hasan Fardan Al Fardan, CEO at Al Fardan Exchange, stated: 'We are proud to partner with RTA to secure the naming rights for a key station in Dubai's Metro system. As a company with deep roots in Emirati heritage and a forward-looking vision for the future, we see this partnership as a perfect reflection of our values. Public transportation is the lifeline of any modern city, and Dubai's metro system is a testament to the emirate's innovative approach to urban mobility.' 'At Al Fardan Exchange, our mission has always been to empower individuals by providing seamless financial solutions. With millions of commuters relying on the metro daily, this partnership allows us to further support and engage with our customers in a meaningful way. We look forward to working closely with RTA to enhance the passenger experience while strengthening our connection to the community we have proudly served for generations,' he mentioned. Effective media campaigns and immersive brand experiences generate mutual value for both brands and metro passengers. Through this exclusive agreement, Al Fardan Exchange will leverage the strategic location of one of Dubai's most iconic landmarks—Dubai Metro—to maximise brand exposure and elevate consumer engagement. Metro riders will also benefit from a comprehensive range of cutting-edge smart solutions seamlessly integrated within Dubai Metro's advanced network. From April to the end of June 2025, RTA will be updating and renaming the station names on the external as well as the indoor directional signages for all Metro Stations. The new name will also be updated on the digital smart systems and RTA's public transport apps along with the onboard audio announcements before and at the time of arriving at the station.
