Page 348 - 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…
The balance sheet remains solid, with net debt/EBITDA comfortably within the company’s
target ratio. It recorded a favourable net working capital balance of AED -218.8 million as

of 30 September 2024, equating to approximately -10.0 per cent of annualised revenues.
Net debt stood at AED 3,163.3 million ($861.35 million), up from AED 2,947.1 million

($802.46 million) at the end of June 2024.

Salik generated free cash flow of AED 1,054.7 million ($287.2 million) in the nine-month
period, up 1.3 per cent YoY, with a free cash flow margin of 64.3 per cent.

Salik made an important step in expanding its ancillary revenue streams through the third

quarter, with the successful launch of its barrier-free parking payment solution at Dubai
Mall from 1 July. The first full quarter performance of the parking solution has been strong,

with a revenue contribution of AED 2.57 million ($700,000) in the three months.

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