Photo : Dubai Government Media Office
Salik Company PJSC, Dubai's exclusive toll gate operator, has reported a robust financial performance for Q3 and the nine-month period ending September 30, 2024. The company achieved AED 1,640.9 million in total revenue for the nine-month period, marking a 5.1% year-over-year increase driven by 355.6 million revenue-generating trips. Revenue from toll usage, representing 86.7% of total revenue, rose to AED 1,422.2 million, with Q3 toll revenues increasing 5.7% year-on-year to AED 468.4 million.
Salik also reported significant growth in key financial metrics. EBITDA increased by 8.9% year-over-year to AED 1,115 million, with a strong Q3 performance that saw a 14% increase compared to the same period last year. Profit before tax for the nine-month period rose by 12.5% year-over-year to AED 903.3 million, while net profit after tax reached AED 822 million. Salik’s EBITDA margin expanded to 68% over nine months and 69% in Q3.
Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel
Chairman His Excellency Mattar Al Tayer highlighted the company’s commitment to enhancing mobility in Dubai and the strategic initiatives that contributed to this strong performance. Key developments included a partnership with Emaar for a seamless parking solution at Dubai Mall, which has already positively impacted financial results. Additionally, Salik is preparing to operationalize two new toll gates, the Business Bay Crossing and Al Safa South, on November 24, 2024, as part of Dubai’s plan to improve traffic flow and infrastructure.
CEO Ibrahim Sultan Al Haddad expressed optimism about the company’s growth prospects, noting an expected revenue increase of 7-8% for FY24. He also anticipates sustained growth into 2025, with revenue-generating trips projected to grow by 24-25% due to the new toll gates.
Salik’s operational highlights include a 7.1% increase in active registered accounts and an 8.7% rise in registered vehicles, reflecting Dubai's growing economy and increased tourism. The parking solution at Dubai Mall contributed AED 2.57 million in revenue during its first full quarter. Furthermore, the company maintained a solid balance sheet, with a net debt/EBITDA ratio of 2.1x, well below its target threshold.
The company continues to build its reputation as a leader in sustainable, smart mobility solutions, with a focus on growth, diversification, and leveraging its environmental, social, and governance (ESG) strengths. Salik’s recent accomplishments, including the launch of new toll gates and the parking solution at Dubai Mall, are expected to further its position in the mobility sector and support Dubai’s status as a global destination.
#trending #latest #DubaiToll #SalikDubai #TrafficSolutions #DubaiMobility #UAETransport #TollGateRevenue #SmartMobility #DubaiEconomy #TrafficManagement #SalikResults #DubaiTraffic #RevenueGrowth #DubaiBusiness #MobilityInnovation #UAEInfrastructure #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai
Verbier ranked among Switzerland’s top ski resorts, finishing on the global podium with Kitzbühel and Val Thorens, which claimed the title...Read More.
Noise and Grains to Host Singer Karthik’s First Live Concert in Dubai on November 16, Promising a Grand Show...Read More.
UAE must beat Kyrgyzstan in their AFC Asian World Cup qualifier on Thursday to stay in the race.
The meeting highlights the UAE's commitment to enhancing collaboration with global fintech leaders t
A convoy of 27 trucks, carrying 192 tonnes of relief supplies, departs from Dubai to assist conflict
Billionaire Elon Musk predicts Canadian Prime Minister Justin Trudeau's defeat in the upcoming feder
Former PM Kevin Rudd called Trump "Most Destructive President" as head of US think tank.
Verbier Crowned ‘Switzerland’s Top Ski Resort’ for 2024 at World Ski Awards
Verbier ranked among Switzerland’s top ski resorts, finishing on the global podium with Kitzbühel and Val Thorens, which claimed the title
Noise and Grains Brings Singer Karthik Live in Dubai on November 16, 2024
Noise and Grains to Host Singer Karthik’s First Live Concert in Dubai on November 16, Promising a Grand Show
Sydney Sweeney Slams Producer's 'Can't Act, Not Pretty' Comment as 'Fake Empowerment'
In a recent interview, Sydney Sweeney shared her view that "women empowering women" feels like a hollow promise within the film industry
Flydubai Makes Debut Appearance at the Bahrain International Airshow
Dubai-based Flydubai debuts at Bahrain Airshow, showcasing retrofitted Boeing 737-800 cabin interior
Dubai Health Board, led by Ahmed bin Saeed, approves new Diabetes Centre plans
The first meeting of the board’s second term, also attended by Mansoor bin Mohammed, approves new Diabetes Centre plans.
Art Lovers Guide to UAE Museums, Galleries, and Culture
Explore the best museums, galleries, and culture in the UAE
Kanguva Review: Suriya Shines, But Fans Say Film is Tough to Watch
Kanguva First Reviews: Internet Shares Thoughts on Siva's Suriya, Bobby Deol, and Disha Patani-Starrer
LuLu Retail shares drop 1.4% on sluggish ADX debut, market cautious
Retail investor interest in LuLu Retail is growing, signaling a potential for a swift stock recovery despite its slow ADX debut
Coutts Highlights Emirates Dubai Sail Grand Prix's Key Role in Sport
With under a month remaining, anticipation soars for SailGP's thrilling season opener in Dubai
Hamdan bin Mohammed Appoints New CEOs at Knowledge and Human Development Authority
As Chairman of The Executive Council of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum
© DNN. All Rights Reserved.