Page 334 - SALIK ENGLISH PR REPORT NOVEMBER 2024

Revenue is up by 6.2 per cent year-on-year, with significant contributions from toll
usage, fines and tag activation fees.
The company saw 355.6 million trips in the first nine months of 2024, posting a 5.1
per cent year-on-year growth in revenue-generating trips. Revenue-generating trips
in the third quarter were up 5.7 per cent year-on-year to Dh468.4 million – making it
the highest Q3 performance for revenue-generating trips the company has ever had.
The toll operator said in a statement that revenue from toll usage fees increased by
5.1 per cent during the nine-month period.
Revenue from toll gates have also seen strong growth with Jebel Ali seeing a
double-digit rise (+c.16%), and other gates growing in the high-single digit range,
including Airport Tunnel (+c.9%) and Al Safa (+c.7%).
From fines, the revenue has risen in the third quarter by 7.9 per cent to Dh58.7
million. In the nine-month period, revenue from fines has increased 7.6 per cent
year-on-year to Dh174.8 million.
Net violations during the third quarter represented 0.4 per cent of net toll traffic, with
revenue from fines contributing 10.7 per cent to total revenue in the nine-month
period.
Tag activation fees grew strongly in the nine-month period, contributing 1.8 per cent
of total revenues in the nine-month period. Revenue from tag activation fees
increased 23.3 per cent year-on-year to Dh30.1 million. In the third quarter, it was up
11.3 per cent year-on-year to Dh10.3 million.
"On this basis, we are pleased to reiterate our recently upgraded guidance for FY24,
expecting revenue growth to increase by 7-8 per cent compared to FY23, particularly
in view of Q4 typically being a seasonally stronger quarter for Salik. We also expect
this good growth momentum to continue into next year, with revenue-generating trips
expected to increase in the range of 24-25 per cent in FY25, including the
contribution from the two new gates,” Al Haddad also said.
Dubai Mall parking solution

In the first full quarter performance of the barrier-free parking solution, Salik PJSC
has reported strong revenue contribution of Dh2.57 million in the three months since
the launch in July 2024.
The barrier-free parking system processed a total of 3.8 million transactions in this
period.
Two new gates
The two new Salik gates — Business Bay gate and Al Safa South gate — will be
operational on Sunday, November 24.
The two new toll gates, located at Business Bay Crossing on Al Khail Road, and Al
Safa South on Sheikh Zayed Road between Al Meydan Street and Umm Al Sheif
Street, will increase the number of Salik gates in Dubai from eight to 10.
Business Bay is a key artery as a lot of motorists from Sharjah, Al Nahda, Al Qusais
use this bridge to access Al Khail Road, which is one of the busiest roads in the
emirate.
meher@khaleejtimes.com

https://www.khaleejtimes.com/business/dubais-salik-reports-dh822-million-net-profit-in-9-
months-revenue-from-fines-hits-dh174-8-million