Salik Hits Record Revenue Of AED 562 Million In First Quarter Of 2024

Dubai's Salik Company PJSC, the sole toll gate operator in the city, has reported a significant increase in its financial performance for the first quarter of 2024. Under the leadership of Mattar Al Tayer, Chairman of the Board, Salik disclosed an impressive 122.8 million revenue-generating trips, culminating in total revenue of AED562 million. This figure represents an 8.1 percent year-on-year growth, setting a new record for Q1 revenue-generating trips since the company's inception.

The majority of this revenue, accounting for 87.4 percent, came from toll usage, which also saw an 8.1 percent increase from the previous year to AED491 million. This growth is attributed to Dubai's continued appeal as a prime destination for tourism and new residents, highlighting the city's successful efforts in maintaining its attractiveness and expanding its economy.

Mattar Al Tayer expressed his satisfaction with these results, stating, "Salik has delivered another strong quarter at the beginning of 2024, a continuation of the momentum from record top-line performance in 2023." He further emphasized the positive impact of Dubai's macroeconomic environment and GDP growth on the company's performance.

Ibrahim Sultan Al Haddad, Salik's Chief Executive Officer, also shared his enthusiasm about the company's strong start to the year. He highlighted the over 8 percent year-on-year increase in revenue-generating trips and outlined Salik's ambition to become a global leader in mobility solutions. Al Haddad announced plans for expanding Salik’s toll gate network with two new gates expected to be operational by November of this year.

The report also noted a significant increase in registered active accounts, which grew by 16.5 percent year-on-year to approximately 2.5 million from around 2.1 million in Q1 2023. The first quarter saw around 242,000 new tag activations, marking almost a 13 percent increase from the previous year. The number of vehicles registered with Salik also rose by 9.2 percent year-on-year.

Salik continues to support community services by offering tariff exemptions to vehicles used by charities, schools, people of determination, ambulances, and other public services. The first quarter of 2024 saw a 5.1 percent increase in free-of-charge trips made by exempted vehicles through Salik’s eight toll gates, with the number of registered exempted vehicles growing by 10 percent year-on-year to reach 53,819 vehicles by the end of March.

This financial report not only underscores Salik's robust performance and strategic progress but also reflects Dubai's ongoing success in fostering an environment that supports economic expansion and enhances its appeal as a leading global destination for tourism and residency.

With inputs from WAM