Salik Company, Dubai’s exclusive tollgate operator, has posted a first-half (H1) profit before tax of AED598.6 million ($163 million), up 9.2% year-on-year.

 

In view of the strong financial results, the company’s Board of Directors approved an interim dividend of AED544.8 million, equivalent to 7.263 Fils per share, payable on September 5, 2024, a WAM report said.

 

Salik clocked 238.5 million revenue-generating trips in H1, an increase of 4.9% YoY to post a total revenue of AED1.1 billion. Revenue from toll usage, making 87.1% of total revenue, rose by 4.9% YoY to AED953.8 million. Salik reported EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) of AED738.4 million, up 6.5% YoY.

 

Expanding core tolling business

Mattar Al Tayer, Chairman of the Board of Directors of Salik, said: “We are very pleased with our performance during the first half of the year, with strong revenue growth of 5.6% YoY, further supporting our ambition to become a global leader in mobility solutions. Since the beginning of 2024, we have focused on expanding our core tolling business while diversifying our revenue streams through new strategic initiatives. 

 

“The addition of two new toll gates in Dubai, scheduled to be operational by the end of November 2024, and our recent parking solutions partnership with Emaar Malls, which became operational in July this year, underscore our commitment to diversification and growth.”

 

Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented: “We are delighted to report another very robust quarter, with Salik’s performance a clear demonstration of the resilience of our business model and our commitment to enhancing mobility in Dubai. 

 

“The increase in revenue-generating trips and active accounts achieved in Q2 2024 reflects our strategic efforts to meet the growing demand for efficient transportation. Dubai continues to strengthen its position as a global tourism hub, attracting more international visitors than ever before. The city continues to attract new residents and businesses, and we are proud to play a pivotal role in making Dubai one of the most accessible cities in the world.”--TradeArabia News Service