History

Cabcharge was established in 1976 as a means for taxi operators and drivers to manage non-cash fares. Today the Cabcharge electronic payment system is found in over 96% of Australian taxis, limousines and water taxis. It is also available in some fleets around the world.

Cabcharge, founded by Mr Reginald Kermode, Chairman and CEO since inception, started as a partnership between Taxi Combined Services and Yellow Cab Group. It listed on the Australian Stock Exchange in December 1999 and is now one of the top 200 companies in Australia. It has achieved double digit growth in every year since listing.

Cabcharge has diversified since it listed. Combined Communications Network (CCN) became a wholly owned subsidiary of Cabcharge in January 2002. Cabcharge then acquired Black Cabs, the second largest taxi company in Melbourne, in August 2003. In co-operation with its Singapore based partner, ComfortDelGro, it acquired the Westbus Group in October 2005. The joint venture, ComfortDelGro Cabcharge, now operates Westbus, Hillsbus and Hunter Valley Buses.

Internationally, Cabcharge has had a long standing relationship with ComfortDelGro, the second largest listed land transport company in the world. It has joint venture arrangements with them in the UK covering taxis and hire cars in London, Aberdeen, Birmingham and Edinburgh. It is planned that these operations will provide a base for further expansion into Europe.

The strength of Cabcharge is built on its close relationships with the taxi industry, leading edge technology, continuing innovation and the expertise and commitment of its people.

Business Structure

In Australia, Cabcharge's customer base spans accounts ranging from large corporations and government bodies to small business and individuals.

Cabcharge holds merchant agreements with many taxi companies, and many of the major taxi companies are shareholders in Cabcharge.

The largest taxi company in Australia, Taxis Combined Services, is a wholly owned subsidiary of Cabcharge. Cabcharge also owns Combined Communications Network (CCN), an Australian transport logistics company that operates the country’s largest fleet of taxis and provides associated specialist transport services to support owners, operators and drivers.

In 2005 Cabcharge, together with ComfortDelGro Corporation Limited (Singapore), formed a joint venture company, ComfortDelGro Cabcharge Pty Ltd (CDC) – with ComfortDelGro owning 51 percent and Cabcharge 49 percent of the business. CDC is recognised as the largest private bus operator in New South Wales and operates under brands that include Westbus, Hillsbus, Baxter’s, Hunter Valley Buses and now Toronto and Sugar Valley Bus Services.

Overseas Presence

More recently, Cabcharge has been increasing its presence overseas with investments in CityFleet UK, Scottish Taxi Companies and Computer Cab plc in London. The overseas ventures see Cabcharge well positioned to rapidly expand its business further throughout the UK and Europe.

Future Developments

The future for Cabcharge is very positive. Our core business model is a powerful one. History demonstrates that Cabcharge continues to achieve strong growth even in times of economic recession. Continued strong growth in Bank issued card transactions are expected to be a major driver for future revenue and profit growth. The introduction of TAXI eTICKETS and future enhancements which include new functionalities such as fixed value and fixed time eTICKETS will continue to gain greater penetration in the market.

Cabcharge will continue to pursue investment opportunities that advance Cabcharge’s important role within the taxi industry as well as initiatives with our Singapore partners via CDC and CityFleet (UK).

Click here to view Cabcharge's Board of Directors

Corporate Social Responsibility

Environment

During the 2007 financial year, we continued our commitment to the future of this planet by introducing policies that set us a part as an environmentally sound and socially responsible company.

Initiatives included:

• Converting all printer and photocopiers so they default to double-sided printing;
• Recycling of aluminium cans;
• Testing the use of recycled toilet paper;
• Recycling of paint thinners and unusable car body parts;
• Sourcing 100 per cent recycled paper.

We continue to recycle paper, cardboard, used printer cartridges, unwanted computer equipment and oil products. We encourage all operators to convert their taxis to LPG, and shut down air conditioners outside work hours. TCS Smash (our smash repairer) uses recycled water.

Cabcharge is encouraging and promoting the electronic delivery of statements and newsletters, reducing both the use of paper and mailing costs.

Cabcharge is working with the Ministry of Transport to encourage NSW taxi operators to buy and operate vehicles designed specifically to reduce the impact on the environment. To show our commitment to this, TCS Smash has updated its own standby fleet to include three Toyota Prius vehicles, which are both economically efficient (due to their hybrid technology) and environmentally friendly (through reduced fuel emissions). The Victorian Transport Department has also granted permission for Black Cabs in Melbourne to put a Prius on the road. If it proves successful, they will start preparing some for sales as part of their vehicle sales function.

Community

Cabcharge continues its practice of developing new vehicles in consultation with disabled community groups and service providers. During this past year we launched a luxury vehicle for our disabled passengers. This is a first for the taxi industry proving that it is possible to balance the special needs of passengers with the business needs of our operators. During the past 12 months, the total number of WATS vehicles on the road has increased to 438. Of this, 221 are within taxi fleets serviced by Cabcharge companies. Cabcharge is working with the Ministry of Transport to improve response times to passenger requests – particularly at special events.

During APEC, we worked with event organisers to ensure all disabled passengers had access to suitable transport.

Cabcharge continued with its regular contribution to the ANZAC Day parade by assisting anyone in need of special transport services.

Safety concerns will always be high on our agenda. We continue to support and work with all Ministry of Transport and NSW Taxi Council initiatives aimed at improving the safety of drivers and passengers. This includes such initiatives as the secure ranks and the driver safety task force.