Page 239 - SALIK PR REPORT AUGUST 2024

8/15/24, 9:43 AM Salik Announces $149 Million Net Profit for First Half of 2024 with Significant Revenue and Profit Growth
Financial Highlights

Salik showed healthy financial growth for the first semester of 2024. It recorded

238.5 million revenue-generating trips to post a 4.9% year-over-year increase.

These trip increases ultimately translated into total revenues of $299.7 million,

which is a 5.6% increase in year-over-year total revenues. Revenues from toll

usage, constituting 87.1% of total revenues, increased by 4.9% year over year

to reach $259.8 million.

EBITDA for H1 2024 stood at $201.2 million, 6.5 percent higher than a year

earlier. Salik Company has also reported a profit before tax of $163.1 million,

recording an increase of 9.2 percent year on year. The Board of Directors

approved an interim dividend of $148.4 million, equivalent to 7.263 fils per

share, underpinned by such strong financial performance, which is expected to

be paid on September 5, 2024.

Strategic Developments

Mattar Al Tayer, Chairman of the Board, said that he was pleased by the strong

performance shown by the Company and the continued increase in revenues.

He mentioned that Salik performance was in line with its strategy to become a

global leader in the mobility solutions industry. He further stated that the

company remains committed to strategic initiatives that would build on their

core business of tolling while diversifying revenues.

Notably, Salik is on course to expand its tolling infrastructure by adding two

new toll gates in Dubai, set to be operational by November 2024. Moreover,

the company further diversified its offerings with a new partnership related to

parking solutions with Emaar Malls back in July 2024.

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