Page 347 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/14/24, 2:02 PM Salik upgrades revenue guidance after record third quarter - Arabian Business: Latest News on the Middle East, Real Estate, Fina…

“On 24 November we will commence operations of the Business Bay Crossing and Al Safa

South gates. The launches are a continuation of the RTA’s strategic plan, aimed at

enhancing road networks and facilities, public transport lines and services with the aim of
improving the flow of traffic.”

Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, said the company was revising

its guidance upwards.

“We remain encouraged by positive trends in Dubai’s economy, which are supportive of
our own growth. 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,” said Al

Haddad.

“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.”

Registered active accounts increased 7.1 per cent YoY to nearly 2.5 million in the nine
months of 2024, compared to 2.3 million in the nine-month period of 2023. As many as

268,000 tags were activated in the third quarter, an 18.6 per cent YoY increase. The number
of vehicles registered with Salik in the third quarter increased 8.7 per cent YoY.

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