Page 129 - SALIK PR REPORT - MARCH 2024

3/5/24, 2:04 PM Dubai’s Salik reports Q4 profit growth after rising toll gate revenue
Net profit for the period rose to Dh295 million ($80.3 million), the company said on Monday in a
regulatory filing to the Dubai Financial Market, where its shares are traded.

Salik’s revenue rose 12.2 per cent annually to Dh563 million in the latest reported quarter, which
helped offset a 21 per cent increase in net finance costs.

“We are thriving in the tolling business and remain focused on strengthening our core business
offering as we expand our footprint within Dubai,” said Ibrahim Al Haddad, chief executive of Salik.

“At the same time, we are committed to delivering sustainable growth, with our updated strategy
purpose-built to widen the revenue-generating opportunities that we pursue."

As part of its revised corporate strategy, the company plans to
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pursue additional revenue sources beyond its core tolling business,
Salik teams up with Emaar to
develop parking management including providing technology solutions for parking.
system at Dubai Mall In December, Salik teamed up with Emaar Malls to deliver a parking
Salik’s third-quarter profit jumps management system at Dubai Mall.
on higher revenue
Salik is also focusing on building a portfolio of vehicle-centred
mobility services that allow customers to pay for additional offerings
directly through their Salik accounts, it said.

The company said revenue-generating trips during the fourth quarter rose 11.1 per cent year-over-
year to 123.2 million. The revenue from toll usage fees, primarily generated through trips,
constitutes the bulk of Salik's overall revenue.

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Traffic outside Dubai World Trade Centre. Leslie Pableo for The National

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