Salik Reports AED 2.3 Billion Revenue Growth For Financial Year Ending December 2024

Salik Company, the sole operator of toll gates in Dubai, has disclosed its financial outcomes for the year ending 31st December 2024. The company experienced an 8.7 percent increase in total revenue, reaching AED2.3 billion. This growth reflects Salik's robust performance over the past year.

In terms of profitability, Salik's earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the year amounted to AED1.6 billion, marking a 13.6 percent rise from the previous year. The net profit before taxes was AED1,279.7 million, showing a significant 16.6 percent increase compared to last year.

The Board of Directors has proposed a dividend payment of AED619.8 million for the first half of 2025, equivalent to 8.2645 Fils per share. This proposal brings the total dividends for FY24 to AED1,164.5 million, which represents a full distribution of FY24's net profit and a 6.1 percent increase from FY23.

Operationally, Salik recorded 498.1 million revenue-generating trips in FY24, an 8 percent rise from the previous year. This increase is attributed to the introduction of two new toll gates during the year.

Mattar Al Tayer, Chairman of Salik's Board of Directors, expressed satisfaction with the company's achievements: "Salik has reported a very strong year, with healthy revenue growth and record profitability performance." He highlighted strategic milestones such as launching two new toll gates and forming partnerships aimed at positioning Salik as a leader in sustainable mobility solutions.

Ibrahim Sultan Al Haddad, CEO of Salik, shared optimism about Dubai's economic trends: "We are optimistic about the positive trends in Dubai's economy, which align with and support our growth and vision." He announced an upward revision in guidance for FY25, forecasting revenue growth between 28-29 percent compared to FY24.

The company's strategic initiatives and financial results underscore its commitment to expanding its operations while maintaining profitability. As Salik continues to innovate within its core business areas and explore new partnerships, it aims to enhance its role in providing smart mobility solutions globally.

With inputs from WAM