Salik, Dubai’s exclusive toll gate operator, has announced its financial results for the year ending 31st December 2024, showcasing impressive growth across key financial metrics.
For FY24, the company reported total revenue of AED2.3 billion, reflecting an 8.7% increase compared to the previous year. EBITDA also saw a robust rise of 13.6%, reaching AED 1.6 billion. Salik’s net profit before taxes stood at AED 1,279.7 million, marking a strong 16.6% year-on-year increase. After taxes, the company’s net profit was AED 1,164.5 million, showing a 6.1% growth compared to FY23.
In light of these positive results, the Board of Directors has proposed a dividend of AED 619.8 million to be paid in the first half of 2025, translating to 8.2645 Fils per share. This brings the total dividends for FY24 to AED 1,164.5 million, which is equivalent to 100% of the company’s net profit for the year.
Salik also reported a growth in its operations, with revenue-generating trips reaching 498.1 million, up by 8.0% from the previous year, driven by the addition of two new toll gates to the network.
Mattar Al Tayer, Chairman of the Board of Directors, expressed pride in the company’s strong performance, noting, “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.”
Ibrahim Sultan Al Haddad, CEO of Salik, highlighted the positive outlook for the company, stating, “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 FY25 upwards, projecting revenue growth of 28-29 percent compared to FY24.”
