Page 101 - SALIK PR REPORT MAY 2024

5/14/24, 10:47 AM Salik Achieves Record Revenue and Profit Growth in Q1 2024
Salik maintains a growing and positive impact on the community

Salik continues to prioritize investing in its human resources and upholds its commitment to
diversity and inclusivity. Salik expanded its full-time workforce by 27% YoY, from 33 in March

2023, to 42 personnel in March 2024, with a rise in the number of nationalities represented

from 9 to 13. Salik continues to progress on Emiratization, attaining a level of over 30% by

the end of the quarter.

Corporate Strategy Update

Salik’s strategic evolution for becoming a global leader; two new gates expected in

2024

Salik aims to become a global leader in sustainable and smart mobility solutions by focusing
on achieving sustainable growth and establishing itself as a future-proof company. It plans to

diversify its business through initiatives such as introducing new toll gates and providing

parking payment solutions at Dubai Mall. Salik aims to build a portfolio of vehicle-centered

mobility services and ancillary revenue streams while ensuring efficient treasury

management and funding systems. It emphasizes maintaining strong ESG credentials,
reducing environmental impact, contributing to community happiness and safety, and

upholding corporate governance standards.

Business Outlook

Salik anticipates a 4-6% YoY increase in revenue-generating trips for full year 2024, with a
robust EBITDA margin of 65-66%. Management is monitoring the closure of the Floating

Bridge, which has boosted traffic through the Al Maktoum Bridge toll gate, potentially

impacting financials positively if the closure persists. Updated financial guidance will be

provided at the half-year results, considering the impact of new toll gates. Salik recently

reduced its annual concession fees to the RTA, resulting in a lower cost structure effective
from April 1, 2024, expected to positively impact financial performance from Q2 2024

onward.

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