Page 187 - SALIK PR REPORT - MARCH 2024

3/5/24, 2:13 PM Dubai toll operator Salik announces dividends and growth plans for 2023
Tayer said the company continues to strengthen its position as a leading

toll operator globally.

As a result of its H2 2023 performance, Salik will be paying out a total of

AED 550 million in dividends to its shareholders. This works out to 7.33

fils per share. Al Tayer noted that the company is diversifying its revenue

sources to supplement growth in the core toll collection business.

Looking ahead to 2024, Salik expects revenue-generating vehicle trips on

its toll roads to increase by 4-6% compared to 2023. This would continue

the strong growth momentum seen last year. Salik believes this level of

traffic will support a robust profit margin of 65-66% for EBITDA.

One way Salik plans to boost trips is by opening two new toll gates in Dubai by

the end of 2024. This will expand its network from the current 8 gates to 10

gates across the emirate. In 2023, Salik saw record-high trips of over 461

million, surpassing pre-pandemic levels in 2019. The fourth quarter of 2023 set

a new quarterly record as well.

The Al Maktoum Bridge gate in particular saw a large 53.6% increase in trips,

which Salik attributed to the ongoing closure of the Floating Bridge diverting

more traffic to that location. Trips were also up 12.2% at the Al Garhoud Bridge

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