Salik Reports 5.1% Revenue Growth, AED 1.64 Billion in Revenue for 9M 2024

Shahba Mayyeri -

Dubai’s exclusive toll gate operator, Salik Company PJSC, has announced its financial results for the three and nine-month periods ending September 30, 2024.

The company reported a robust performance, with total revenue for the first nine months of the year rising 6.2% year-on-year (YoY) to AED 1,640.9 million. The number of revenue-generating trips grew by 5.1% YoY, reaching 355.6 million, while toll revenues accounted for the majority, rising by 5.1% to AED 1,422.2 million.

Salik's profit before tax reached AED 903.3 million, marking a 12.5% YoY increase, while net profit after tax grew by 2.4% to AED 822.0 million. The third quarter alone saw strong gains, with revenue from tolls up 5.7% YoY and a notable 8.8% increase in net profit after tax.

The company’s strategic initiatives continue to drive growth, with the launch of its parking solution at Dubai Mall in partnership with Emaar, contributing positively to financial results. Salik is also set to expand its tolling network with two new gates at Business Bay and Al Safa South, scheduled to open on November 24, 2024.

Ibrahim Sultan Al Haddad, CEO of Salik, expressed confidence in the company’s outlook, anticipating 7-8% revenue growth for the full year and a 24-25% increase in revenue-generating trips in 2025. The company is also positioning itself as a global leader in sustainable and smart mobility, with plans for further expansion and innovation in the coming years.

Key Highlights:

  • Revenue-generating trips: 355.6 million (5.1% YoY growth)
  • Revenue: AED 1,640.9 million (6.2% YoY growth)
  • Profit before tax: AED 903.3 million (12.5% YoY growth)
  • New toll gates set to open in November 2024.

News Source: Dubai Media Office