Salik distributes interim dividends of AED 544.8 million

The Board of Directors of Salik, the exclusive operator of toll gates in Dubai, today announced the company’s financial results for the first half of 2024, ending on June 30, with the approval of the Board of Directors of the company to distribute interim dividends of AED 544.8 million, equivalent to 7.263 fils per share, due to be paid on September 5, 2024..

The company said in a statement today that the number of revenue-generating trips reached approximately 238.5 million trips, an increase of 4.9% year-on-year, recording record total revenues of AED 1.1 billion during the first half of this year, an increase of 5.6% compared to the same period last year..

Revenues from toll fees, which account for 87.1% of total revenues, increased by 4.9% year-on-year to AED 953.8 million..

EBITDA grew by 6.5% year-on-year to AED 738.4 million, while EBITDA reached AED 598.6 million, an increase of 9.2% year-on-year, while net profit after tax rose to AED 544.8 million during the same period..

“Since the beginning of this year, we have focused on expanding our core business of collecting toll fees, while diversifying our revenue sources through new strategic initiatives. We have also reaffirmed our commitment to diversification and growth by adding two new toll gates in Dubai, scheduled to enter service by the end of November 2024, in addition to our partnership with Emaar to provide technological solutions for parking, which was launched last July,” said HE Mattar Al Tayer, Chairman of Salik.

“These initiatives reflect our vision to enhance Dubai’s position as an attractive global destination, and confirm the company’s ability to add sustainable value to all our partners and customers,” he said.

“This growth reflects the resilience of our business model and our commitment to meeting the growing demand for efficient mobility solutions in Dubai, as the emirate continues to strengthen its position as a global tourism destination,” said Ibrahim Sultan Al Haddad, CEO of Salik..