Today's Edition
DUBAI (WAM)
Salik Company, Dubai's exclusive toll gate operator, on Tuesday announced its financial results for year-ended December 31, 2024. Total Revenue for the full year 2024 grew by 8.7 percent YoY to reach Dh2.3 billion.
In a statement on Tuesday, the company said that EBITDA for the full year reached Dh1.6 billion, a 13.6 percent YoY growth.
Salik's net profit before taxes totalled Dh1,279.7 million in FY24, marking a strong 16.6 percent YoY increase, while it generated net profit after taxes of Dh1,164.5 million in FY24, a 6.1 percent YoY increase.
In light of the strong year performance, the Board of Directors propose a dividend of Dh619.8 million to be paid during H1 2025 (equivalent to 8.2645 Fils per share).
This brings total dividends for FY24 to Dh1,164.5 million, representing 100 percent of FY24's net profit and a 6.1 percent YoY increase compared to FY23.
In terms of operations, total revenue-generating trips recorded 498.1 million, rising by 8.0 percent 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 FY25 upwards, projecting revenue growth of 28-29 percent compared to FY24."
