Today's Edition
DUBAI (WAM)
Salik Company PJSC, the exclusive operator of toll gates in Dubai, on Friday announced its financial results for the three-month and nine-month periods ended 30th September 2026.
The company reported total revenue of Dh2,117.3 million for the first nine months of 2026, with EBITDA of Dh1,449.6 million, representing an EBITDA margin of 68%.
Net profit for the period amounted to Dh1,045.1 million, with a net profit margin of 49.4%.
Chairman of the Board of Directors of Salik, Mattar Al Tayer, affirmed, “The financial results achieved by the Company during the first nine months of 2026 reflect the strength of its business model, operational efficiency, and ability to capitalize on Dubai’s rapid economic and urban growth. The Company’s financial performance also demonstrates the resilience of its financial position and the effectiveness of its strategy in delivering sustainable growth, enhancing shareholder returns, and reinforcing its position as a leading operator of smart mobility. This supports the efficiency of the mobility ecosystem and contributes to strengthening Dubai’s competitiveness and attractiveness as a destination for investment and business.”
He said, “The Company’s achievement of revenues of Dh2.117 billion during the first nine months of the year, together with net profit of Dh1.045 billion, reflects the high level of efficiency in managing its operations and resources, as well as its ability to translate growth in operational activity into strong financial results. These indicators provide a solid foundation for the continued execution of the Company’s strategy, investment in enhancing its technological and operational capabilities, improving the efficiency of its services, and strengthening its ability to deliver sustainable long-term economic value for shareholders and partners."
He added, “The future growth prospects of Salik’s business are underpinned by Dubai’s strong economic fundamentals, continued urban and population growth, and the expansion of commercial and tourism activity, alongside the resulting increase in demand for advanced mobility solutions. The Board of Directors remains committed to further developing the Company’s operating model, adopting digital solutions and smart technologies, and exploring opportunities that contribute to diversifying revenue streams and enhancing operational efficiency. These efforts will enable Salik to keep pace with future developments in the transport and mobility sector while supporting the objectives of the Dubai Economic Agenda D33 to further strengthen Dubai’s position as a leading global hub for the economy, business, and investment.”
Chief Executive Officer of Salik, Ibrahim Sultan Al Haddad, commented, “The third quarter showed signs of improvement. Revenue from Toll usage fees rose 5.2% quarter-on-quarter, narrowing the year-on-year decline to 7.3% from 16.5%, and total revenue reached AED 705.3 million. Cash generation strengthened markedly, with free cash flow of Dh494.6 million in the quarter after an outflow in Q2, bringing the 9M 2026 total to Dh1,045.6 million. The Company also strengthened its financial position during the period, reducing net debt by 4.0% since the start of the year to Dh4,606.9 million, with leverage at 2.29 times, which provides Salik with considerable flexibility to pursue its growth priorities. Dubai’s long-term development plans provide a clear framework for that growth as the Emirate’s population is projected to reach 5.8 million by 2040, and the Dubai 2040 Urban Master Plan is expanding five urban centers, three of which are near Salik’s toll gates on Sheikh Zayed Road.”
He added, “Operationally, mobility patterns showed gradual improvement following the regional developments earlier in the year. The year-on-year gap in total trips narrowed to 5.0% in the third quarter from 12.6% in the second, peak-hour trips were 2.0percent above last year over the nine months, and September was our busiest month for traffic since February.”
He said, “During the period, we kept building out our mobility and payments platform and we renewed our technology partnership with TransCore for a further five years, supporting both our tolling operations and the other mobility solutions such as parking payment. Our seamless parking service went live at Dubai Harbour following the agreement signed with Shamal in July. Ancillary revenue grew 82.5% year-on-year to Dh26.5 million in 9M 2026, and we continue to make progress in executing our strategic plans, supporting the expansion of Salik’s service ecosystem and strengthening our presence in smart mobility."
The total number of trips, including discounted trips, made through Salik’s toll gates reached 577.8 million in the first nine months of 2026, representing an 8.1% year-on-year decline compared with 628.4 million in the same period of 2025.
Trips in the third quarter of 2026 reached 194.0 million, up 4.0% compared with the second quarter, reflecting the gradual improvement in mobility patterns following the exceptional regional events that began in late February 2026.
Total chargeable trips reached 419.3 million in the first nine months of 2026, a 10.9% year-on-year decline compared with the same period of 2025.
Chargeable trips during the peak period, at Dh6, totalled 155.3 million, with trips in the off-peak period, at Dh4, reaching 219.6 million.
Revenue from toll usage fees reached Dh1,809.8 million, down 10.1% compared with the first nine months of 2025.
Third-quarter revenue from toll usage fees reached Dh607.3 million, up 5.2percent compared with the second quarter of 2026.
The year-on-year shortfall narrowed sharply to 7.3% from 16.5% in the second quarter.
Revenue from fines reached Dh220.1 million in the first nine months of 2026, up 6.5% compared with the same period last year.
Third-quarter revenue from fines reached Dh75.7 million, up 4.6% year on year and accounting for 10.7% of quarterly revenue.
Tag activation fees generated Dh37.7 million in the first nine months of 2026, an 8.5% year-on-year increase.
Third-quarter revenue from tag activation fees reached Dh12.9 million, up 9.3% compared with the same period last year and accounting for 1.8% of quarterly revenue.
Total ancillary revenue reached Dh26.5 million in the first nine months of 2026, up 82.5% year on year, with the increase driven principally by the Parkonic parking partnership.
The Liva Group insurance partnership also continued to build momentum during the period, growing 73% year on year.
In the third quarter of 2026, Salik employed 63 full-time staff, 21.2% more than a year earlier, representing 17 nationalities compared with 12 in the third quarter of 2025.
Emiratisation reached 31.8%, up from 30.8% in the same period last year, while women accounted for 22.2% of the workforce compared with 21.2%.
The company expects revenue growth of between 6% and 8% for the 2027 financial year, with an EBITDA margin of between 69.5% and 70.5%.
