Salik Company PJSC, Dubai’s exclusive toll gate operator, reported a significant financial performance for the first half of 2024, generating Dh1.1 billion in revenue. According to a Khaleej Times report, this marks a 5.6% increase compared to the same period last year, driven by a rise in vehicle traffic and strategic business expansions.
From January to June 2024, a total of 238.5 million vehicles passed through Salik’s eight toll gates. Toll usage, which makes up 87.1% of the company’s total revenue, increased by 4.9% year-on-year, contributing Dh953.8 million.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first half reached Dh738.4 million, up 6.5% from last year, while profit before tax rose by 9.2% to Dh598.6 million.
Despite a slight dip in revenue in the second quarter compared to the first, Salik maintained a strong net profit of Dh267.5 million for Q2, totaling Dh544.8 million for the first half of the year. The company announced an interim cash dividend of Dh544.8 million, payable on September 5, 2024.
Salik’s expansion plans include the introduction of two new toll gates at Business Bay Crossing and Al Safa South by November 2024, along with a new parking solutions partnership with Emaar Malls, which became operational in July. The number of registered vehicles with Salik tags has also grown by 8.8%, reaching 4.2 million.