Dubai's Salik posts 2024 net profit at $315.9mln
The company posted AED 2.3 billion ($626 million) in revenue for the full-year, indicating an 8.7% year-on-year growth. Salik is projecting a revenue growth of nearly 30% in 2025, following the launch of two new Salik gates last year and variable usage rates rolled out this year.
While the company reported its Q4 net profit at AED 342.5 million with a 16% jump YoY,
its revenue for the quarter grew 15.6% YoY to AED 651 million, while EBITDA for Q4 rose 26.7% to AED 464.1 million.
Toll usage fee revenues in Q4 increased by 15.7% YoY to AED 570.2 million due to the introduction of new Salik toll gates.
A dividend of AED 619.8 million will be paid during H1 2025, equivalent to 8.2645 fils per share. Salik's total dividends for FY24 comes to AED 1.16 billion, representing 100% of FY24 net profit and a 6.1% YoY increase compared to FY23.
Ibrahim Sultan Al Haddad, CEO of Salik, said the company was 'optimistic' about Dubai's economy, prompting Salik to revise its guidance for 2025,
'We are… projecting revenue growth of 28-29% compared to FY24, alongside an EBITDA margin of 68-69%. Our revised guidance includes contributions from the implementation of variable pricing and our two new gates, both of which have demonstrated the expected performance in their initial weeks of operation,' Al Haddad said.
Salik said it is also looking at expanding its ancillary revenue streams in 2025, following a collaboration with Emaar Malls, which reached AED 5.8 million in FY24 having launched on 1 July 2024.
The company has also partnered with smart parking solutions firm Parkonic to integrate Salik's e-wallet system across 107 parking locations in the UAE, in addition to a collaboration with Liva Group over vehicle insurance renewal.
(Writing by Bindu Rai, editing by Seban Scaria)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
21 minutes ago
- Arabian Post
e& Delivers Strong Q2 Financials with Subscriber Surge
e& has reported an impressive net profit of AED 3.5 billion for the second quarter of 2025, up 9.7 per cent year‑on‑year, driven by a substantial rise in its global subscriber base. The company's performance outstripped the average analyst forecast of AED 2.84 billion, underlining robust execution in a competitive market. Consolidated revenue for Q2 rose 28.1 per cent to AED 18.0 billion, while earnings before interest, tax, depreciation and amortisation increased by approximately 22.2 per cent year‑on‑year to AED 8.0 billion, yielding an EBITDA margin of around 44–44.5 per cent. For the first half of 2025, the group's net profit surged 60.7 per cent to AED 8.8 billion, on consolidated revenue of AED 34.9 billion, up 23.3 per cent compared with the same period in 2024. Expansion of its subscriber base emerged as a key growth driver: the total number of users increased 13.1 per cent year‑on‑year to 198 million globally, including a rise to 15.5 million domestic subscribers in the UAE. Executives attribute this growth to rising demand for advanced connectivity, AI‑enabled services and bespoke digital solutions. ADVERTISEMENT Chairman H. E. Jassem Mohamed Bu Ataba Alzaabi said that the financial strength reflects disciplined strategy and long‑term value creation, citing initiatives such as the UAE Sovereign Cloud Launchpad launched with AWS and the UAE Cybersecurity Council, which targets digital sovereignty and is projected to add US$ 181 billion to the national digital economy by 2033. CEO Hatem Dowidar highlighted strategic divestments—such as exits from Khazna and Airalo—and expansion into new territories, including the acquisition of Serbia Broadband, as milestones in the company's growth path. Operational enhancements also supported performance. e& secured a Tier S rating under the Dubai AI Seal for responsible AI use, formed partnerships with Qualcomm to scale 5G and edge AI, and rolled out Business Continuity as a Service, an AI governance framework with IBM, and an AI lab in collaboration with Open Innovation AI. Financial metrics reveal strong cash generation and low leverage. Operating free cashflow rose 15.6 per cent year‑on‑year to AED 5.5 billion, with free cashflow margin around 30.7 per cent. Group net debt stood at AED 34.5 billion, yielding a modest net debt/EBITDA ratio of 1.19x, with a cash balance of AED 30.9 billion as of the end of Q2. Capital expenditure excluding spectrum and licence fees totalled AED 2.5 billion, representing a capex intensity of approximately 13.8 per cent. Analyst consensus indicates that e& is consolidating its position as a global telecom‑tech operator. Brand Finance named it the world's fastest‑growing brand, and the company has been expanding its footprint internationally, including launching a new office in Miami and forging partnerships across the Americas with Digicel. On the market front, performance in the sector is mirroring broader regional sentiment. UAE stock markets climbed driven by rising oil prices and optimism over trade agreements, lifting telecom shares, including a 1 per cent rise for Du following stronger quarterly results ■… While Emirates NBD, the UAE's largest lender, saw a profit decline in the first half of 2025 due to tax impacts and weaker recoveries, e& stands in contrast with strong growth momentum and robust profitability
TECHx
13 hours ago
- TECHx
e& Boosts Digital Growth With AI, Cloud, and 5G Gains
Home » Smart Sectors » Telecom » e& Boosts Digital Growth With AI, Cloud, and 5G Gains e& today announced its consolidated financial results for the first half of 2025. The Group reported strong growth momentum and strategic progress across its business pillars. Consolidated revenue rose to AED 34.9 billion. This marks a 23.3% increase compared to H1 2024. Net profit grew to AED 8.8 billion, reflecting a 60.7% year-over-year surge. EBITDA reached AED 15.4 billion, up 18.8%, with a 44.1% EBITDA margin. Globally, the Group's subscriber base increased by 13.1% year-over-year. It now stands at 198 million. In the UAE, e& UAE subscribers grew to 15.5 million. The rise was driven by demand for advanced connectivity, AI services, and personalized digital experiences. H.E. Jassem Mohamed Bu Ataba Alzaabi, Chairman, e&, stated that the strong performance highlights strategic investments and long-term value creation. He noted that e& remains committed to secure AI, cloud innovation, and national digital priorities. He revealed the launch of the UAE Sovereign Cloud Launchpad. This was developed with AWS and the UAE Cybersecurity Council. The initiative supports digital sovereignty and cloud security. It is valued at over US$ 1 billion and aims to contribute more than US$ 181 billion to the UAE's digital economy by 2033. Hatem Dowidar, Group Chief Executive Officer, e& reported that e& maintained momentum across all verticals. In Q2 2025, revenue rose 28.1% year-over-year to AED 18.0 billion. H1 revenue also increased 23.3% year-over-year. He noted strategic milestones including: Divestment of Khazna and partial exit from Airalo Tier S rating under the Dubai AI Seal for responsible AI development Acquisition of Serbia Broadband to expand international footprint e& collaborated with Qualcomm to boost 5G and edge AI across industries. Internationally, Brand Finance named e& the world's fastest-growing brand. e& also launched several new initiatives. These include a Business Continuity as a Service (BCaaS) framework, AI governance with IBM, and a joint AI Lab in the UAE with Open Innovation AI. The Group opened a new international office in Miami and expanded partnerships across the Americas with Digicel. e& UAE tested 6 GHz and 600 MHz frequency bands, launched 5G slicing for enterprises, and introduced AI-powered drone inspection systems. The company maintained 99.5% FTTH coverage in the UAE and holds the top global rank in mobile download speed. New partnerships supported SMEs, sports, and public safety. Notably: Launched private 5G for Emirates Steel Arkan Partnered with Al Ain Football Club and RTA Dubai Rolled out parental control services and AI fire detection with Abu Dhabi Civil Defence e& life reported fintech growth with e& money tripling its Gross Transaction Value. The app surpassed 1.9 million users. It also introduced digital gold investment with SafeGold and rolled out IBAN accounts via First Abu Dhabi Bank. STARZ ON installs grew 5x year-over-year, reaching over 10 million. Monthly active users hit 660,000. The platform secured IPL and Asia Cup rights and launched shoppable TV with Trendyol. e& enterprise expanded AI training with Emeritus and digitization projects with Exeed Industries. It partnered with Infobip, LifeBot, and Genesys to launch advanced digital and customer experience solutions. Help AG was awarded by the Department of Health – Abu Dhabi and recognized by Palo Alto Networks. Bespin Global launched cloud solutions on AWS Marketplace. e& international acquired Serbia Broadband and reported success with the Yettel brand in Bulgaria, Hungary, and Serbia. e& Egypt introduced international remittance services and launched nationwide 5G. In Pakistan, PTCL strengthened its FTTH leadership and landed the 10,000 km Africa-1 Submarine Cable. Mobily in Saudi Arabia invested SAR 3.4 billion in infrastructure and formed key partnerships with flynas and the Ministry of Hajj. e& capital continues to invest in technology-driven companies, supporting innovation across telecom and digital sectors. e& reaffirmed its role as a global technology leader. Its strong financials and innovation-driven strategy position it to shape digital transformation in key markets.
ARN News Center
19 hours ago
- ARN News Center
UAE fuel prices announced for August
Motorists in the UAE will be paying marginally less for petrol in August, the UAE Fuel Price Committee confirmed on Wednesday. Special 95 will be priced at AED2.57 per litre compared to AED 2.58 in July. Meanwhile, Super 98 will drop slightly to AED2.69 per litre from AED 2.70, and E-plus 91 will be AED2.50 per litre from AED 2.51. However, diesel prices will increase to AED2.78 per litre from AED 2.63 in July.
