Dubai's sole toll gate operator Salik posted a net profit of AED 369.3 million in the first quarter of 2026, holding steady year-on-year despite a dip in traffic volumes that weighed on revenue during the period.
Total revenue for Q1 2026 came in at AED 728.9 million, a 3.0% decline compared to the same period last year, driven by lower toll usage fees amid softer traffic trends in March. The company attributed the slowdown to an exceptional event that disrupted normal traffic patterns during the month. Toll usage fees, which remain the largest revenue contributor, fell 6.0% year-on-year to AED 625.5 million.
Despite the revenue pressure, Salik maintained a strong EBITDA of AED 507.2 million, with a margin of 69.6% — up 44 basis points year-on-year — reflecting continued cost discipline across operations. Free cash flow rose 1.6% year-on-year to AED 636.5 million, with a margin of 87.3%.
Total trips through Salik's toll gates reached 197.2 million in Q1 2026, down 6.4% from 210.8 million in the same quarter last year. Active registered accounts grew 7.5% year-on-year to 2.8 million, while tag activation fees increased 6.1% to AED 12.2 million.
Ancillary revenues emerged as a bright spot, surging 147% year-on-year to AED 8.0 million, fuelled by parking payment partnerships with Emaar Malls, Parkonic and Dubai Airports. The company also announced a new partnership with Valtrans in April 2026 to enable digital valet parking payments across more than 100 locations in the UAE.
Salik's net debt stood at AED 4.23 billion as of March 31, down 11.9% from the previous quarter, bringing its net debt to EBITDA ratio to 1.98x — well within its covenant limit of 5.0x.
News Source: Dubai Media Office
