Page 96 - SALIK PR REPORT MAY 2024

5/14/24, 10:47 AM Salik Achieves Record Revenue and Profit Growth in Q1 2024
supported by continued strong growth in tourism and residency, with Dubai remaining an

attractive destination both for visitors and new residents relocating to the city.

His Excellency Mattar Al Tayer, Chairman of the Board of Directors of Salik, celebrated

another strong quarter for the company in 2024, building on the momentum from a record-

breaking performance in 2023. He attributed the positive results to the company's strategic

vision, commitment to shareholder value, and the favorable macroeconomic environment in

the UAE, including robust GDP growth and tourism inflow.

Ibrahim Sultan Al Haddad, CEO of Salik, echoed this sentiment, expressing satisfaction

with the strong start to the year, highlighted by an over 8% increase in revenue-generating

trips year-on-year. He emphasized the company's ambition to become a global leader in

mobility solutions and its focus on diversifying revenue streams. Al Haddad announced

strategic milestones, including the expansion of the toll gate network with two new gates in
Dubai and the diversification into parking management solutions through a partnership with

Emaar Malls. These developments position Salik for continued growth and success in the

future.

Mobility Highlights

Salik posts 8.1% YoY growth in revenue-generating trips in Q1 2024, reaching 122.8

million

In the first quarter of 2024, Salik experienced a 6.2% year-on-year increase in the total

number of trips, including discounted trips, attributed to Dubai's ongoing appeal to tourists
and regular commercial activities. Revenue-generating trips reached a record high of 122.8

million, marking an 8.1% year-on-year increase, the highest for a first quarter since inception.

Notably, the Al Maktoum Bridge gate witnessed a significant 49.0% year-on-year increase in

revenue-generating trips due to traffic diversion from the nearby Floating Bridge closure. Al

Garhoud Bridge also saw a 9.1% year-on-year increase in revenue-generating trips.
Excluding these bridges, Salik's revenue-generating trips increased by 5.3% year-on-year,

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