Page 294 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/25/24, 1:34 PM Dubai's new Salik toll gates to become operational from November 24
and providing more seamless mobility across Dubai by enhancing travel efficiency and reducing
traffic congestion. The new gates will play a crucial role in optimising travel time and reducing
congestion on some of Dubai’s busiest routes,” said Mattar Al Tayer, chairman of the board of
directors of Salik.
Revenue generation
Salik expects to see an increase in annual revenue-generating trips with the operation of the new toll
gates. Revenue-generating trips are now likely to increase in the range of 7-8 percent for 2024
versus previous guidance of 4-6 percent, with a robust EBITDA margin of 67-68 percent, versus
previous guidance of 65-66 percent.
Regarding the payment schedule for the gate’s valuation, an agreement has been reached with the
RTA on a repayment plan for the total valuation amount for the two new gates over a period of six
years starting from the end of November 2024.
The annual instalment will be AED455.7 million, to be paid in two equal instalments of AED227.9
million each, every six months, which will be provided from the company’s own financial
resources.
Strong H1 results
Salik generated a net profit after tax of AED544.8 million in H1 2024.
The company registered 238.5 million revenue-generating trips, which increased by 4.9 percent YoY
to record total revenue of AED1.1 billion. Revenue from toll usage, comprising 87.1 percent of total
revenue, rose by 4.9 percent YoY to AED953.8 million. During the first half of 2024, Salik reported
EBITDA (earnings before interest, tax, depreciation, and amortization) of AED738.4 million, up 6.5
percent year-on-year, and profit before tax of AED598.6 million, up 9.2 percent year-on-year. In
view of the strong financial results, the company’s board of directors approved an interim dividend
distribution of AED544.8 million, equivalent to 7.263 fils per share, payable on September 5, 2024.
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