Page 302 - SALIK PR REPORT AUGUST 2024

Salik sustained a robust net profit of Dh267.5 million for the second quarter and
total of Dh544.8 million profit for the first half of the year.

In view of the strong financial results, the company announced the distribution of
interim cash dividends amounting to Dh544.8 million, equivalent to 7.263 fils per
share, payable on September 5 this year.

Mattar Al Tayer, chairman of the Board of Directors of Salik, said: “Since the
beginning of 2024, we have focused on expanding our core tolling business while
diversifying our revenue streams through new strategic initiatives. The addition of
(Business Bay Crossing and Al Safa South gates) – scheduled to be operational by

the end of November 2024 – and our recent parking solutions partnership with
Emaar Malls, which became operational in July this year, underscore our
commitment to diversification and growth.”

Salik expanded its revenue stream with the barrier-free system since July 1, when
paid parking was implemented in Grand, Cinema, and Fashion parking areas. The
Zabeel and Fountain View parkings, meanwhile, for the time being.

Registered vehicles with Salik tags now stand at 4.2 million, up by 8.8 per cent as

compared to H1 2023. Registered active accounts increased 14.6 per cent YoY
(year-on-year) – about 2.5 million from around 2.2 million in Q2 2023.

Salik, meanwhile, continued to offer tariff exemptions to vehicles used by

charities, schools, people of determination, ambulances, and other public
services. The number of free-of-charge trips made by exempted vehicles through
Salik’s eight toll gates remained relatively stable year-on-year at around 2 million
trips.

Salik’s revenue-generating trips reached 115.7 million in the second quarter of
2024, up 1.6 per cent as compared to Q2 2023. Jebel Ali toll gate posted a
double-digit growth (+c.10 per cent), while Al Maktoum Bridge and Al Safa toll
gates registered +c.4 per cent and +c.3 per cent growths, respectively.

Salik CEO Ibrahim Sultan Al Haddad noted: “The increase in revenue-generating
trips and active accounts achieved in Q2 2024 reflects our strategic efforts to
meet growing demand for efficient transportation. Dubai continues to strengthen
its position as a global tourism hub, attracting more international visitors than
ever before. The city continues to attract new residents and businesses, and we

https://www.msn.com/en-ae/news/featured/dubai-salik-records-dh11-billion-revenue-in-h1-after-
238-million-vehicles-use-toll-gates/ar-AA1oIxUH?ocid=BingNewsSerp