Sunday, April 14, 2024

Record Full-Year Revenue Reported by Salik

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In 2023, Dubai’s toll gate operator Salik achieved significant success, generating a total revenue of over AED 2.1 billion from 461.4 million revenue-generating trips. The net profit for the year reached AED 1.098 billion, with toll usage revenue accounting for 87.5 percent of the total revenue, marking an 11.7 percent year-on-year increase to AED 1.845 billion. This performance was the strongest since Salik began operations in 2007, fueled by the movement of individuals and tourists across Dubai.

During the fourth quarter of 2023, revenue-generating trips reached 123.2 million, a notable 11.1 percent increase compared to the previous year and surpassing the previous quarterly record of 113.8 million set in the second quarter of the same year. The Al Maktoum Bridge gate witnessed a significant 53.6 percent year-on-year increase in revenue-generating trips, excluding paid taxi trips, due to the closure of the nearby floating bridge diverting traffic through the gate.

Based on its strong performance, the Board of Directors of Salik recommended distributing 100 percent of the second half of 2023 net profit, amounting to AED 550 million, as dividends to shareholders, equivalent to 7.33 fils per share.

The continued success of Salik in 2023 reflects its importance in Dubai’s transportation infrastructure and the growing demand for toll services in the emirate.

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