Salik’s profits rise: Here’s how much it earned in 2024
The company’s Board of Directors proposed a dividend of Dhs619.8m, which is to be paid in the first half of 2025 (H1)
Dubai’s exclusive toll gate operator, Salik, has announced its financial results for the year ending December 31, 2024.
According to a WAM report, the total revenue for the entire year (2024) grew by 8.7 per cent year-on-year to reach Dhs2.3bn.
The toll operator’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the full year reached Dhs1.6bn, a 13.6 per cent year-on-year growth, a statement issued on March 4 said.
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The net profit before taxes came up to Dhs1,279.7m in fiscal year 2024, marking a strong 16.6 per cent year-on-year increase, while it generated net profit after taxes of Dhs1,164.5m, which is a 6.1 per cent year-on-year increase.
The company’s Board of Directors proposed a dividend of Dhs619.8m, which is to be paid in the first half of 2025 (H1). This is equivalent to 8.2645 fils per share and brings the total dividends for the fiscal year 2024 to Dhs1,164m, representing 100 per cent of fiscal year 2024’s net profit and a 6.1 per cent year-on-year increase compared to the fiscal year 2023.
In terms of operations, total revenue-generating trips recorded 498.1 million, rising by 8.0 per cent year-on-year at the back of the launch of the two new Salik gates.
“Salik has reported a very strong year, with healthy revenue growth and record profitability performance,” Mattar Al Tayer, chairman of the Board of Directors of Salik, stated.
Salik reached significant milestones by introducing two new toll gates during 2023 within the core tolling business and also established multiple partnerships. The partnerships support the company’s ambition to become a global leader in providing sustainable and smart mobility solutions,” he added.
“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 fiscal year 2024,” Ibrahim Sultan Al Haddad, CEO of Salik, stated, reflecting Al Tayer’s optimism.
