Salik Company, Dubai’s toll operator, has announced a net profit of Dh822 million for the first nine months of 2024. The company also recorded its highest-ever third-quarter EBITDA which is approximately Dh376.7 million. As a result, there is a 14% increase compared to the same period last year.

For the nine months, Salik’s pre-tax profit totaled Dh903.3 million which reflects a solid 12.5% growth year-on-year. The third-quarter profit before tax rose by 19.6% to Dh304.7 million. Ibrahim Sultan Al Haddad, Salik’s CEO, highlighted the strong performance which points to a 5.7% year-on-year increase in revenue-generating trips and overall solid profitability. He also mentioned the launch of Salik’s new parking solution at Dubai Mall, as well as the upcoming toll gates in Business Bay and Al Safa which is all set to open on November 24, 2024.

Revenue in the third quarter

In the third quarter of 2024, Salik’s revenue grew by 6.2% year-on-year, driven by increased toll usage, fines, and tag activation fees. The company recorded 355.6 million trips in the first nine months of the year, a 5.1% rise compared to the previous year. The third-quarter trips alone saw a 5.7% growth that reached Dh468.4 million which marks the best Q3 performance for Salik in terms of revenue-generating trips.

Revenue from toll fees rose by 5.1% for the nine months. Certain toll gates, like those at Jebel Ali, Airport Tunnel, and Al Safa, saw strong growth, with Jebel Ali showing a double-digit increase of around 16%. Revenue from fines also saw growth, with a 7.9% rise to Dh58.7 million in the third quarter. Over the nine months, fine revenue totaled Dh174.8 million, up 7.6% year-on-year. Violations accounted for just 0.4% of total toll traffic in the third quarter, and fines contributed 10.7% of the total revenue for the period.

In addition, revenue from tag activation fees surged 23.3% year-on-year to Dh30.1 million during the first nine months, contributing 1.8% to total revenue. Third-quarter tag activation fees grew by 11.3%, totaling Dh10.3 million.

Future Outlook

Salik has raised its full-year 2024 revenue growth forecast to 7-8%, driven by expected stronger performance in the final quarter of the year. The company is also optimistic about 2025, forecasting a 24-25% increase in revenue-generating trips, including contributions from the two new toll gates.

Dubai Mall Parking Solution

Salik’s new barrier-free parking solution at Dubai Mall has been successful since its launch in July 2024, generating Dh2.57 million in revenue during its first full quarter of operation. The system handled 3.8 million transactions during this period.

New Toll Gates

On November 24, 2024, Salik will open two new toll gates at Business Bay and Al Safa South, increasing the total number of gates in Dubai from eight to ten. These new gates are expected to ease traffic and improve access, particularly for motorists travelling from Sharjah, Al Nahda, and Al Qusais to Al Khail Road, one of the busiest roads in the city.

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