Salik reports Dh 751.6 million revenue in Q1 2025
DUBAI (WAM)Salik Company, Dubai's exclusive toll gate operator, today announced its financial results for the three-month period ended March 31, 2025 (Q1 2025). Total revenue for Q1 grew by 33.7 per cent YoY to reach Dh751.6 million.EBITDA for Q1 increased 37.9 per cent YoY to Dh519.6 million. In Salik's core tolling business, total chargeable trips reached 158.0 million following the introduction of variable pricing at the end of January 2025 and the launch of the two new toll gates in November 2024.EBITDA margin reached 69.1 per cent in Q1 2025, compared to 67.1 per cent in Q1 2024, representing a 210 bps expansion YoY, supported by strong revenue growth in the period. The EBITDA margin also improved in comparison to 68.9 per cent in FY24.Salik's net profit before taxes totalled Dh407.2 million in Q1 2025, marking a strong 33.6 per cent YoY increase.Mattar Al Tayer, Chairman of the Board of Directors of Salik, said, 'Our exceptional Q1 performance reflects a continued focus on delivering long-term value to shareholders and our ambition to become a global leader in providing smart and sustainable mobility solutions. Dubai's robust economic growth – driven by the visionary leadership of the emirate- has played a key role in fuelling our positive momentum and creating a strong foundation for long-term sustainable growth."He added that the company expects annual total revenue to grow by between 28 - 29 per cent, expressing optimism about diversifying its operations, expanding beyond the Emirate of Dubai, and exploring new partnerships aimed at enhancing customer experience — all of which are expected to contribute positively to both short- and long-term profit growth.Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented, 'We've entered 2025 with strong momentum, with our core tolling business continuing to thrive, bolstered by the opening of two new toll gates in late 2024. We have also maintained progress in our ancillary revenue streams, with both the Dubai Mall and Parkonic parking partnerships seeing good traction with users in the first quarter.'Total chargeable trips, accounting for the new variable pricing, reached 158 million, with total revenue growth exceeding 30 per cent.
Total revenue from Salik's parking partnerships with Emaar Malls and Parkonic reached Dh2.8 million in Q1 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
What's On
4 days ago
- What's On
Al Safa street in Dubai to get massive upgrades
Dubai's Roads and Transport Authority (RTA) is accelerating the construction of infrastructure networks in a bid to ensure smoother traffic flow across the city. The latest project to join the master plan is the Al Safa Street Improvement Project. The scope of the project extends from the junction of Al Safa Street with Sheikh Zayed Road to the junction with Al Wasl Street. It includes the building of two bridges and two tunnels, the widening of roads, and upgrades to intersections and traffic signal systems. When complete, travel time will be reduced from 12 minutes to just three. The first bridge will serve traffic from Al Satwa Road towards Sheikh Zayed Road and Financial Centre Street, and the second will accommodate traffic coming from Al Satwa Road towards Sheikh Zayed Road and Financial Centre Street. The first tunnel will serve traffic coming from Sheikh Zayed Road and Financial Centre Street towards Al Wasl Street, and the second will be located at the intersection of Al Wasl Street and Al Safa Street. *This Dubai Metro station has just been renamed* When completed, the project will enhance traffic flow from the upper deck of Financial Centre Street and Sheikh Zayed Road towards Al Safa Street and Al Wasl Street, and vice versa. Coca-Cola Arena, Citywalk Speaking on the project, His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of Dubai's RTA stated, 'The project serves a vital district renowned for hosting numerous tourism, cultural, and sporting events and is home to key landmarks such as City Walk, Coca-Cola Arena, educational institutions, residential and commercial areas, luxury hotels, and high-end restaurants. It also enhances connectivity with Downtown Dubai and nearby developments along Financial Centre Street, an area inhabited by over one million residents.' Al Tayer added that the project includes 'the development of dedicated pedestrian walkways and cycling tracks, vibrant urban spaces that encourage community interaction, and the integration of a dynamic public realm enhanced by landscaped areas.' Images: Still from RTA video > Sign up for FREE to get exclusive updates that you are interested in
Hi Dubai
5 days ago
- Hi Dubai
Salik Wins Global Award for Corporate Governance Excellence
Salik, Dubai's exclusive toll gate operator, has won the '3G Excellence Award for Advocacy and Commitment to Corporate Governance 2025,' a prestigious accolade granted by the British Cambridge Foundation during the Global Good Governance Summit in Brunei. The award marks a significant milestone for Salik, recognizing its steadfast commitment to transparency, accountability, and ethical leadership. It positions the company among a select group of internationally recognized firms excelling in corporate governance. The recognition follows Salik's detailed presentation to the judging panel by its internal audit, compliance, and enterprise risk management teams. Their integrated efforts showcased the company's robust governance framework and helped secure the panel's trust. CEO Ibrahim Sultan Al Haddad credited the award to the company's strong culture of governance and the collective efforts of its employees. He emphasized that corporate governance remains a cornerstone of Salik's long-term strategy and a vital component of investor confidence and business sustainability. Al Haddad further noted that the achievement aligns with Dubai's broader goals to become a global smart city and supports both the UAE 2031 development agenda and Vision 2071. Since its inception, Salik has steadily built a reputation for aligning with global best practices, bolstering its appeal to investors and reinforcing its role in supporting the UAE's economic and innovation goals. News Source: Dubai Media Office
Dubai Eye
6 days ago
- Dubai Eye
Dubai's Al Safa Street to be upgraded
Dubai's Roads and Transport Authority (RTA) announced, on Saturday the Al Safa Street Improvement Project from the junction of Al Safa Street with Sheikh Zayed Road to the junction with Al Wasl Street, spanning 1,500 metres. The project involves the construction of two bridges and two tunnels with a combined length of 3,120 metres, along with the widening of surface roads and upgrades to intersections and traffic signal systems. Once complete, the travel time on Al Safa Street will reduce from 12 minutes to just 3 minutes, and the street's capacity will double from 6,000 to 12,000 vehicles per hour in both directions. His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of Dubai's Roads and Transport Authority, stated 'Al Safa Street Improvement Project is part of RTA's master plan to enhance the road network in the area, which also includes the development of Umm Suqeim and Al Wasl Streets. 'The project serves a vital district renowned for hosting numerous tourism, cultural, and sporting events, and is home to key landmarks such as City Walk, Coca-Cola Arena, educational institutions, residential and commercial areas, luxury hotels, and high-end restaurants. It also enhances connectivity with Downtown Dubai and nearby developments along Financial Centre Street, an area inhabited by over one million residents. 'The project places strong emphasis on creative and aesthetic elements, including the development of dedicated pedestrian walkways and cycling tracks, vibrant urban spaces that encourage community interaction, and the integration of a dynamic public realm enhanced by landscaped areas,' Al Tayer said. Two Bridges and Two Tunnels Al Tayer added 'The project covers the development of Al Safa Street from its intersection with Sheikh Zayed Road to its intersection with Al Wasl Street and includes the construction of two bridges. 'The first bridge will serve traffic coming from Al Wasl Street towards Sheikh Zayed Road and Financial Centre Street. It will comprise four lanes and span 1,005 metres, with an estimated capacity of 6,400 vehicles per hour. 'The second bridge will accommodate traffic coming from Al Satwa Road towards Sheikh Zayed Road and Financial Centre Street. It will feature two lanes and extend 360 metres, with a capacity of 2,800 vehicles per hour.' He revealed 'The project also includes the construction of two tunnels. The first tunnel will serve traffic coming from Sheikh Zayed Road and Financial Centre Street towards Al Wasl Street. It will span 1,005 metres, comprise two lanes, and offer a capacity of 3,200 vehicles per hour. 'The second tunnel will be located at the intersection of Al Wasl Street and Al Safa Street, extending 750 metres. It will feature two lanes in each direction, with a total capacity of approximately 6,400 vehicles per hour.' Al Tayer further explained 'The project also involves widening Al Safa Street from three signalised lanes in each direction to four lanes—two providing free-flowing movement and two managed by traffic signals. 'It also includes the development of dedicated pedestrian walkways and cycling tracks, the creation of vibrant urban spaces, and landscaped areas. Additional works cover upgrades to lighting systems, directional signage, the rainwater drainage network, and the protection and relocation of existing utility services. 'Upon completion, the project will enhance traffic flow from the Upper Deck of Financial Centre Street and Sheikh Zayed Road towards Al Safa Street and Al Wasl Street, and vice versa. It will also strengthen connectivity across key arterial corridors in the area and elevate overall traffic safety standards.'
