Salik reports Dhs2.3 billion of revenue in 2024
Salik Company, Dubai's exclusive toll gate operator, today announced its financial results for year-ended 31st December 2024. Total Revenue for the full year 2024 grew by 8.7 per cent YoY to reach Dhs2.3 billion.
In a statement on Tuesday, the company said that EBITDA for the full year reached Dhs1.6 billion, a 13.6 per cent YoY growth.
Salik's net profit before taxes totalled Dhs1,279.7 million in FY24, marking a strong 16.6 percent YoY increase, while it generated net profit after taxes of Dhs1,164.5 million in FY24, a 6.1 per cent YoY increase.
In light of the strong year performance, the Board of Directors propose a dividend of Dhs619.8 million to be paid during H1 2025 (equivalent to 8.2645 Fils per share). This brings total dividends for FY24 to Dhs1,164.5 million, representing 100 per cent of FY24's net profit and a 6.1 per cent YoY increase compared to FY23.
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.
Mattar Al Tayer, Chairman of the Board of Directors of Salik, 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.
Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, 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 FY25 upwards, projecting revenue growth of 28-29 per cent compared to FY24.'
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