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9/2/24, 11:57 AM NEWS: Al Ramz Investment is 'Overweight' on Salik on growth expectations, dividend policy — TradingView News
NEWS: Al Ramz Investment is

'Overweight' on Salik on

growth expectations, dividend

policy

Aug 30, 202411:51 GMT+4

First published: 30-Aug-2024 11:51:01

Staff Writer

Dubai’s road-toll operator Salik, whose share price has surged nearly 10% since

Wednesday when it revised revenue guidance upwards, looks well-positioned for

strong growth in line with Dubai’s robust

GDP expansion, and its favorable payout policy, Al Ramz Investment said.

Salik had revised its revenue growth upwards from 4-6% with EBITDA margin of

67-68% expected, revised upwards from 65-66%. It expects two new gates,
Business Bay and Al Safa South, to be operational by the end of November.

The two new gates have a combined valuation of 2.73 billion dirhams ($743
million), as per a concession agreement with Dubai's the Roads and Transport

Authority (RTA) .

Salik was granted a 49-year concession for the eight older gates two years ago,

prior to the company’s IPO in September 2022. Under the terms of the

concession, Salik will pay to the RTA annual instalments of AED 455.7 million in

two equal instalments of AED 227.9 million each, every six months.

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