Page 345 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/14/24, 2:01 PM Salik Registers 8.8% Rise In Q3 Profit To $75.5M On Solid Growth In Road Traffic
In the first nine months of this year, net profit rose 2.4% year-on-year to $223.8 million (AED
822 million), while revenues grew 6.2% to $446.7 million (AED 1.6 billion).

Salik registered 355.6 million revenue-generating trips in the January-September period,

which increased 5.1% year-on-year.

The road toll operator reported earnings before interest, taxes, depreciation, and amortization

(EBITDA) of $303.6 million (AED 1.1 billion) during the nine months, registering a rise of

8.9% year-on-year.

Growth continued to be strong across several gates in the third quarter, with Jebel Ali seeing

strong 16% growth, and other gates growing in the high-single-digit range.

New toll gates

Salik currently operates eight toll gates located at strategic junctures, especially on Sheikh Zayed
Road, which is considered the main road in Dubai.

The two new gates, which will take the total number of toll gates to 10, are valued at a total of

$744.4 million (AED 2.7 billion). Business Bay Gate was valued at $616.7 million (AED 2.3
billion), while Al Safa South Gate's investment was at $127.7 million (AED 469 million).

"On November 24, we will be commencing operations of the Business Bay Crossing and Al Safa
South gates," said Salik Chairman Mattar Al Tayer

Forecasts

Salik said revenue growth is projected to be in the range of 25-26% year-on-year for the full fiscal
year in 2025, including the impact of the two new gates set to be opened on November 24, 2024.

However, the fiscal year 2024 guidance is unchanged with total revenue and revenue-generating
trips expected to increase in the range of 7-8%.

Big number

Dubai approved earlier this month a five-year plan to develop internal roads between 2025 and
2029, earmarking $1 billion (AED 3.7 billion) to construct 634 kilometers of new roads across 12

residential, commercial, and industrial areas.

https://www.forbesmiddleeast.com/industry/transport/salik-sees-88-growth-in-third-quarter-profit 2/2