Salik to pay AED 544.8 million dividend as revenue, profits soar

Dubai’s exclusive toll gate operator Salik has reported strong financial results for the first half of 2024.

The company saw a total of 238.5 million revenue-generating trips, marking a 4.9 per cent year-on-year increase and generating AED 1.1 billion in revenue.

Toll usage alone contributed 87.1 per cent of this total revenue, rising by 4.9 per cent to AED 953.8 million.

Salik's EBITDA for the period reached AED 738.4 million, up 6.5 per cent year-on-year, while profit before tax increased by 9.2 per cent to AED 598.6 million. The company also achieved a net profit after tax of AED 544.8 million.

In light of these strong results, Salik’s Board of Directors has approved an interim dividend of AED 544.8 million, which translates to 7.263 fils per share. The dividend will be distributed on September 5, 2024.

"We are very pleased with our performance during the first half of the year, with strong revenue growth of 5.6% year-on-year, further supporting our ambition to become a global leader in mobility solutions," said Mattar Al Tayer, Chairman of the Board of Directors of Salik.

"Since the beginning of 2024, we have focused on expanding our core tolling business while diversifying our revenue streams through new strategic initiatives. The addition of two new toll gates in Dubai, scheduled to be operational by the end of November 2024, and our recent parking solutions partnership with Emaar Malls, which became operational in July this year, underscore our commitment to diversification and growth," he added.

ساهم استمرار الاقتصاد الكلي القوي لإمارة دبي وتوجهات السياحة الإيجابية في ارتفاع إيرادات الشركة للنصف الأول من عام 2024 لتصل إلى 1.1 مليار درهم، بزيادة قدرها 5.6% عن النصف الأول من عام 2023. pic.twitter.com/OKocJMBxw1

— Salik (@Salik_ae) August 13, 2024