Page 49 - SALIK PR REPORT FEBRUARY 2024

2/9/24, 12:12 PM Dubai-Based Salik's Full-Year Profit Plunges 17% To $297M Amid Higher Cost
Dubai Road-Toll Operator Salik's Full-Year Profit Falls 17% To

$297M Due To Higher Costs

By James Emmanuel Forbes Middle East Staff Feb 08, 2024, 12:53 PM

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Salik said its revenues for last year rose 11.4% year-on-year to $574.1 million (AED 2.11 billion), mainly driven by an
increase in toll usage. Image by Salik

Dubai road-toll operator Salik said Thursday its net profit fell 17% to $296.8 million (AED 1.09

billion) for 2023, down from $360.9 million (AED 1.3 billion) for the previous year, dragged

down by additional costs from variable concession fee, amortization of upfront concession fee
and finance cost on borrowings.

Higher toll usage

However, the toll operator said its revenues for last year rose 11.4% year-on-year to $574.1
million (AED 2.1 billion), mainly driven by an increase in toll usage in the wake of improved

economic activity and growth in traffic.

Revenue-generating trips soared 11.6% year-on-year to 461 million trips through Salik gates last

year, showed the filing.

Salik’s net operating profit declined 6.9% to $353.7 million (AED 1.29 billion) in 2023 from

$380 billion (AED 1.39 billion) for the previous year.

The company's total assets declined to $1.4 billion (AED 5.2 billion) by the end of 2023, from

$1.4 billion (AED 5.3 billion) for the same period a year ago.

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