Dubai-based toll gate operator Salik reported a net profit of AED 1.16 billion ($315.9 million) for 2024, with EBITDA reaching AED 1.6 billion, reflecting a 13.6% year-on-year increase.
The company recorded AED 2.3 billion ($626 million) in revenue for the year, marking an 8.7% annual growth. Salik anticipates nearly 30% revenue growth in 2025, driven by the addition of two new toll gates last year and the introduction of variable pricing this year.
For Q4 2024, Salik posted a net profit of AED 342.5 million, reflecting a 16% year-on-year increase.
Quarterly revenue grew by 15.6% to AED 651 million, while EBITDA surged 26.7% year-on-year to AED 464.1 million.
Toll fee revenue for the quarter rose 15.7% year-on-year to AED 570.2 million, supported by the activation of new Salik toll gates.
A dividend payout of AED 619.8 million is scheduled for H1 2025, equivalent to 8.2645 fils per share. Salik’s total dividends for 2024 stand at AED 1.16 billion, representing 100% of its annual net profit and a 6.1% increase from 2023.
Salik Revises 2025 Outlook
Salik’s CEO, Ibrahim Sultan Al Haddad, expressed confidence in Dubai’s economic outlook, leading the company to revise its 2025 guidance.
“We anticipate revenue growth of 28-29% compared to FY24, alongside an EBITDA margin of 68-69%. Our updated forecast reflects contributions from variable pricing and our two new gates, both of which have performed as expected in their initial weeks of operation,” Al Haddad stated.
Salik is also looking to expand its ancillary revenue streams in 2025. A partnership with Emaar Malls, launched on 1 July 2024, contributed AED 5.8 million in revenue last year.
The company has further collaborated with smart parking solutions provider Parkonic to integrate its e-wallet system across 107 parking locations in the UAE. Additionally, a partnership with Liva Group aims to streamline vehicle insurance renewal services.
