Salik Company PJSC, Dubai’s exclusive tollgate operator, announced impressive financial results for the first half of 2024, reporting a total revenue of AED 1.1 billion, a 5.6% year-on-year increase.
The company registered 238.5 million revenue-generating trips, reflecting a 4.9% growth compared to the same period in 2023. The revenue from toll usage, which constitutes 87.1% of the total, rose to AED 953.8 million.
Salik’s EBITDA for the period reached AED 738.4 million, up 6.5% year-on-year, with a profit before tax of AED 598.6 million, marking a 9.2% increase. The company also reported a net profit after tax of AED 544.8 million, leading to an interim dividend distribution of AED 544.8 million, payable on 5 September 2024.
In a strategic move to enhance its core tolling business and diversify revenue streams, Salik announced the addition of two new toll gates in Dubai, set to be operational by November 2024. The company also launched a barrier-free parking payment solution at Dubai Mall in partnership with Emaar Malls, marking its entry into the ancillary revenue sector.
Salik joined the United Nations Global Compact in July 2024, underscoring its commitment to sustainability and ethical business practices. The company plans to revise its financial guidance for the remainder of the year, factoring in the positive impact of the new toll gates and ancillary revenues, along with adjustments in the RTA concession fee.
News Source: Dubai Media Office
