Page 355 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/14/24, 2:04 PM Salik reports 12.5% growth in profit before tax during the 9M-2024
generated net profit after taxes of AED 822.0 million for the nine-month period, a 2.4% YoY increase,
with third quarter profit after tax increasing by high single digits, up 8.8% YoY to AED 277.3 million.

Summary of statement of profit or loss

Q3 Q3 % Δ Q2 % Δ 9M 9M % Δ
AED million(1)
2024 2023 YoY 2024 QoQ 2024 2023 YoY

Revenue 546.1 508.8 7.3% 532.7 2.5% 1,640.9 1,545.6 6.2%

Toll usage fees 468.4 443.1 5.7% 462.7 1.2% 1,422.2 1,352.6 5.1%

Fines and penalties 58.7 54.4 7.9% 57.2 2.7% 174.8 162.5 7.6%

Tag activation fees 10.3 9.3 11.3% 10.0 3.6% 30.1 24.4 23.3%

Other revenue 8.6 2.0 324.7% 2.9 199.2% 13.8 6.0 127.9%

EBITDA(2) 376.7 330.4 14.0% 361.5 4.2% 1,115.0 1,024.0 8.9%

EBITDA margin 69.0% 64.9% 4.0% 67.8% 1.1% 68.0% 66.2% 1.7%

Finance costs, net (50.5) (54.8) -7.9% (46.5) 8.5% (148.2) (159.3) -7.0%

Profit before tax 304.7 254.8 19.6% 293.9 3.7% 903.3 802.7 12.5%

Income tax (27.4) - N/A (26.4) 3.8% (81.3) - N/A

Profit for the period 277.3 254.8 8.8% 267.5 3.7% 822.0 802.7 2.4%

Earnings per share 0.037 0.034 8.8% 0.036 3.7% 0.110 0.107 2.4%
(AED)

(1) EBITDA is profit for the period, excluding the impact of finance cost, finance income,
and depreciation and amortization expenses.

Balance sheet remains solid, with net debt/EBITDA comfortably within Company’s target ratio

The Company recorded a favourable net working capital balance of AED -218.8 million as of 30
September 2024, equating to c.-10.0% as a percentage of annualized revenues. As at 30 September
2024, net debt stood at AED 3,163.3 million, from AED 2,947.1 million at the end of June 2024. This

translates to a trailing twelve-month net debt/EBITDA ratio of 2.1x, significantly below the Company’s
debt covenant of 5.0x.

Summary of financial position

https://www.zawya.com/en/press-release/companies-news/salik-reports-125-growth-in-profit-before-tax-during-the-9m-2024-cjold953 5/9