Page 48 - SALIK PR REPORT FEBRUARY 2024
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2/9/24, 12:12 PM Dubai toll-gate operator Salik's net profit closes 2023 at Dh1b; dividend at 100% | Markets – Gulf News
Not a like-for-like comparison
From July 1, 2022, Salik started operating as a separate legal entity, holding a 49-year concession from RTA. “Bis resulted
in new costs such as a variable concession fee, amortization of upfront concession fee, finance costs on borrowings,
transitional services expense and others, which did not exist prior to July 2022,” the company added.
“Be performance and profitability has improved year-on-year during the post carve-out period, as evident from the fact
Salik achieved a net profit of Dh1.09 billion, which includes net profit of Dh542 million for second-half of 2023 as
compared to Dh529 million in second-half of 2022.”
Going forward, Salik will be getting higher incoming numbers from the two additional toll-gates opening in Dubai later
in the year, which will be on two hyper-busy thoroughfares. Another major revenue push will come from the association
with the operator of Be Dubai Mall, whereby Salik will oversee the billing of the visitors streaming into and out of the
destination.
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