Page 268 - SALIK PR REPORT ENGLISH 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.

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Diversification and growth

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 two new toll gates in Dubai (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 operational at Dubai

Mall since July 1, when paid parking was implemented in Grand, Cinema, and
Fashion parking areas. The Zabeel and Fountain View parkings, meanwhile, remain
free of charge for the time being.

4.2M cars have Salik

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

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