Latest news with #AlHaddad
Hi Dubai
30-06-2025
- Business
- 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
Zawya
04-03-2025
- Business
- Zawya
Dubai's Salik posts 2024 net profit at $315.9mln
Dubai toll gate operator Salik posted its profit after tax for 2024 at 1.16 billion UAE dirhams ($315.9 million), while EBITDA for the full year reached AED 1.6 billion, a 13.6% YoY growth. 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)
