Dubai toll gate operator Salik posted its profit after tax for 2024 at 1.16 billion UAE dirhams ($315.9 million), while EBITDA for the full year reached AED 1.6 billion, a 13.6% YoY growth.

The company posted AED 2.3 billion ($626 million) in revenue for the full-year, indicating an 8.7% year-on-year growth. Salik is projecting a revenue growth of nearly 30% in 2025, following the launch of two new Salik gates last year and variable usage rates rolled out this year.   

While the company reported its Q4 net profit at AED 342.5 million with a 16% jump YoY,

its revenue for the quarter grew 15.6% YoY to AED 651 million, while EBITDA for Q4 rose 26.7% to AED 464.1 million.

Toll usage fee revenues in Q4 increased by 15.7% YoY to AED 570.2 million due to the introduction of new Salik toll gates.

A dividend of AED 619.8 million will be paid during H1 2025, equivalent to 8.2645 fils per share. Salik’s total dividends for FY24 comes to AED 1.16 billion, representing 100% of FY24 net profit and a 6.1% YoY increase compared to FY23.

Ibrahim Sultan Al Haddad, CEO of Salik, said the company was “optimistic” about Dubai’s economy, prompting Salik to revise its guidance for 2025,

“We are… projecting revenue growth of 28-29% compared to FY24, alongside an EBITDA margin of 68-69%. Our revised guidance includes contributions from the implementation of variable pricing and our two new gates, both of which have demonstrated the expected performance in their initial weeks of operation,” Al Haddad said.

Salik said it is also looking at expanding its ancillary revenue streams in 2025, following a collaboration with Emaar Malls, which reached AED 5.8 million in FY24 having launched on 1 July 2024.

The company has also partnered with smart parking solutions firm Parkonic to integrate Salik’s e-wallet system across 107 parking locations in the UAE, in addition to a collaboration with Liva Group over vehicle insurance renewal.

(Writing by Bindu Rai, editing by Seban Scaria)

bindu.rai@lseg.com