Page 176 - SALIK PR REPORT - MARCH 2024

3/5/24, 2:13 PM PRESSR: Salik reports record full-year revenues of AED 2.1bln — TradingView News

otal
78.7% 76.9% 1.8% 77.1% 1.6% 77.8% 76.6% 1.2%

tal vehicle trips through Salik toll gates
counted trips include taxis without passengers, Al Mamzar and Al Maktoum gates free time and
nts, vehicles exempted by law, and multiple violations and other. Multiple violations refer to drivers
epeatedly drive through the toll gates without paying in 24 hours. In this case, the fine is paid only

t toll traffic is total trips minus discounted trips
venue-generating trips is net toll traffic minus fines & penalties and unreconciled trips. Revenue-
ating trips is the driver for Salik's toll usage fees revenue, which accounts for the majority of Salik's
ue

Registered vehicles increase 9% YoY to 4 million; growth in active accounts exceeds 15% in
2023

The number of vehicles registered with Salik in 2023 increased 8.3% YoY, reflecting the
Government of Dubai’s ongoing success in expanding the economy and ensuring the Emirate

remains a key destination for tourism and new residents. In addition, registered active
accounts increased 16.0% YoY to approximately 2.4 million at the end of 2023. Tag activations
reached c. 253,000 tags in the fourth quarter, an 18.1% increase from last year.

Financial Highlights

Note on the financial statements

Comparing Salik's profitability between FY 2022 and FY 2023 may not accurately reflect the
company's performance on a like-for-like basis, due to changes in its operating structure and
cost profile. Since July 2022, Salik operates as a separate legal entity from the RTA through a

49-year concession agreement. As a result, Salik incurs new costs, such as concession fees,
rent, amortization, and transitional service expenses, as well as finance costs.

Continued strong performance drives revenue to a record AED 2,109 million for FY 2023, up
11.4% YoY

• Toll usage fees: revenue continued to increase during the full year and fourth quarter of

2023, supported by the inflow of tourists and movement of individuals across Dubai. As a

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