Salik reports AED 2.3 bln of revenue in 2024

Salik Company, Dubai's exclusive toll gate operator, has announced its financial results for year-ended December 31, 2024, with total revenue for the full year growing by 8.7 per cent year-on-year (YoY) to reach AED 2.3 billion.

In a statement on Tuesday, the company said that EBITDA for the full year reached AED1.6 billion, a 13.6 per cent YoY growth.

Salik's net profit before taxes totalled AED1,279.7 million in the 2024 financial year, marking a strong 16.6 per cent YoY increase, while it generated net profit after taxes of AED1,164.5 million in the same period, a 6.1 per cent YoY increase.

In light of the strong year performance, the Board of Directors propose a dividend of AED 619.8 million to be paid during H1 2025 (equivalent to 8.2645 Fils per share), bringing total dividends for the financial year to AED 1,164.5 million, representing 100 per cent of the year's net profit and a 6.1 per cent YoY increase compared to the 2023 financial year.

In terms of operations, total revenue-generating trips recorded 498.1 million, rising by 8.0 per cent YoY at the back of the launch of the two new Salik gates.

Chairman of the Board of Directors of Salik,​​​​​​ Mattar Al Tayer, said: "Salik has reported a very strong year, with healthy revenue growth and record profitability performance."

"During the past year, Salik proudly reached significant strategic milestones, having introduced two new toll gates within the core tolling business and established multiple partnerships. These strategic partnerships support our ambition to become a global leader in providing sustainable and smart mobility solutions," he added.

Chief Executive Officer of Salik Ibrahim Sultan Al Haddad stated, "We are optimistic about the positive trends in Dubai's economy, which align with and support our growth and vision. We are pleased to revise our guidance for financial year 2025 upwards, projecting revenue growth of 28-29 percent compared to 2024."