How much is Dubai’s Salik making in 2025? Here’s the latest

Salik Company PJSC (“Salik” or the “Company”), Dubai’s exclusive toll gate operator, today announced its financial results for the three-month period ended March 31, 2025 (“Q1 2025”). Total revenue for the first quarter of 2025 grew by 33.7 per cent year-on-year to reach Dh751.6m.

Read- Salik signs deal with ENOC to enable smart payments at fuel stations

EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the first quarter increased 37.9 per cent year-on-year to Dh519.6m. In Salik’s core tolling business, total chargeable trips reached 158.0m following the introduction of variable pricing at the end of January 2025 and the launch of two new toll gates in November 2024, a Dubai Media Office report said.

Strategic commentary

Mattar Al Tayer, Chairman of the Board of Directors of Salik, said: “Our exceptional Q1 performance reflects a continued focus on delivering long-term value to shareholders and our ambition to become a global leader in providing smart and sustainable mobility solutions. Dubai’s robust economic growth – driven by the visionary leadership of the emirate – has played a key role in fueling our positive momentum and creating a strong foundation for long-term sustainable growth.

We are pleased to build on the growth momentum we achieved in 2024, with robust top and bottom-line performance across both the core tolling business and our growing ancillary revenue streams, which continue to gain traction. We expect total revenue to grow 28–29 per cent by the end of 2024 driven by the launch of operations in geographies outside of Dubai and the exploration of new partnerships to further enhance user experience and support both short and long-term earnings growth.”

“We’ve entered 2025 with strong momentum, with our core tolling business continuing to thrive, bolstered by the opening of two new toll gates in late 2024. We have also maintained progress in our ancillary revenue streams, with both the Dubai Mall and Parkonic parking partnerships seeing good traction with users in the first quarter. Total chargeable trips, accounting for the new variable pricing, reached 158m, with total revenue growth exceeding 30 per cent.

Profitability is also robust, with EBITDA growth of more than 35 per cent, delivering an industry-leading EBITDA margin of 69.1 per cent. A healthy first quarter positions us well for the year ahead, and we are pleased to reiterate our full-year guidance, with total revenue expected to grow 28–29 per cent, and an EBITDA margin of 68–69 per cent as we continue to strengthen our non-core offering while tapping new opportunities,” Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented.

Core tolling business

The total number of trips, including discounted trips, made through Salik’s toll gates grew 35.1 per cent year-on-year in Q1 2025, driven mainly by the introduction of two new toll gates which became operational in November 2024. The strong growth was further supported by Dubai’s continued attraction of tourists and residents, growth in commercial activities, the implementation of structural reforms, and strategic, targeted investment to drive economic diversification.

• Total chargeable trips reached 158.0m in Q1 2025. Of these, 39.3 million occurred during the peak period (Dh6), and 107.5 million during the off-peak period (Dh4). Additionally, 11.2m trips were made past midnight (Dh 0).
• Toll usage fees: Revenue grew 35.5 per cent year-on-year to Dh665.6m, due to new pricing and gates.
• Fines: Revenue rose 16.2 per cent year-on-year to Dh 68.4m. Net violations reached about 786,000, accounting for 0.4 per cent of net toll traffic.
• Tag activation fees: Up 17.4 per cent to Dh 11.5m, making up 1.5 per cent of total Q1 revenue.

Ancillary revenue streams

• Revenue from parking partnerships (Emaar Malls and Parkonic) totaled Dh2.8m. Dubai Mall saw strong user engagement, and Parkonic integration continues into Q2 2025.
• The partnership with Liva Group contributed Dh0.5m through streamlined vehicle insurance renewal services.
• Salik continues to expand its ancillary streams, building on 2024 milestones like the e-wallet integration across 107 UAE parking locations and new mobility solutions.

Financial performance

Strong profitability in Q1 2025, with EBITDA increasing 37.9 per cent year-on-year, and a robust balance sheet

• EBITDA: Dh519.6m, up from Dh 376.9m in Q1 2024. EBITDA margin rose to 69.1 per cent from 67.1 per cent.
• Net profit before tax: Dh407.2m, up 33.6 per cent year-on-year.
• Net profit after tax: Dh370.6m, also up 33.7 per cent year-on-year.

Balance sheet and cash flow

• Net debt: Dh4,648.8m, down 10.6 per cent from year-end 2024. Leverage stood at 2.7x Net Debt to EBITDA.
• Free cash flow: Dh626.7m in Q1 2025, up 77.8 per cent year-on-year, with a margin of 83.4 per cent.

Strategy and expansion

Implementation of variable pricing

As instructed by the RTA, Salik introduced variable pricing on January 31, 2025, to improve traffic flow and efficiency.

New toll gates

Business Bay and Al Safa South gates began operations in November 2024. Their combined valuation is Dh 2.734bn, payable in instalments over six years.

Ancillary partnerships and innovations

• Dubai Mall parking: Salik’s barrier-free payment launched on July 1, 2024.
• Parkonic: 5-year partnership to integrate e-wallet at 107+ locations.
• Liva Insurance: Partnership offers simplified renewals and customer notifications.
• Customised Salik tags: New initiative allowing corporate clients to personalize tags.

Additional milestones

• ENOC MoU: Integration of smart payments for fuel and services via Salik’s e-wallet.
• Workforce growth: Headcount up 29 per cent year-on-year, with Emiratization at 29.6 per cent and female workforce at 20.4 per cent.

Business Outlook

FY25 total revenue guidance remains unchanged

• Revenue: Expected to grow 28–29 per cent year-on-year, with 4–5 per cent growth excluding new gates.
• EBITDA margin: Projected at 68–69 per cent.