Page 338 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/14/24, 2:00 PM Salik signals stronger growth ahead as profits surge | The National
Fines and penalties grew 7.6 per cent to Dh174.8 million, contributing 10.7 per cent to the total
revenue during the period, while ebitda leapt nearly 9 per cent to Dh1.12 billion.

The growth in Salik's financials was underpinned by revenue-generating trips – net toll traffic
minus fines and unreconciled transaction trips – which grew 5.7 per cent year-on-year to 117.1
million in the September quarter. For the nine months to September, that figure grew 5.1 per ce
to 355.6 million. Revenue-generating trips are the driver for Salik's toll fees revenue and
constitute the bulk of its overall revenue.

The company said it expects revenue-generating trips to grow 7 per cent to 8 per cent this yea
which would then surge by as much as 25 per cent in the next fiscal year, especially with the
opening of its new toll gates at Business Bay Crossing and Al Safa South, where operations ar
to begin on November 24.

The new gates are a “continuation of the RTA’s strategic plan” to enhance road networks and
public transport lines, as well as improve the flow of traffic within Dubai, said Salik chairman
Mattar Al Tayer.

The quarter also includes the first full three-month performance of Salik's barrier-free parking
system at Dubai Mall, contributing Dh2.57 million from 3.8 million transactions.

This is part of the company's “strategic progress” and “commitment to enhancing mobility in
Dubai … a key initiative to diversify our revenue base that is already contributing positively to o
financial performance”, Mr Al Tayer said.

Salik was established as a public joint stock company in June 2022. Since July 2022, it has be
operating as a separate legal entity from the Roads and Transport Authority through a 49-year
concession agreement.

The company was part of Dubai's plans to list state-owned companies to increase the size of th
DFM to about Dh3 trillion, and to encourage the listing of more private companies from sectors
such as energy, logistics and retail.

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