Salik reports record full-year revenue

Dubai's toll gate operator Salik continued to deliver strong performance in 2023, with 461.4 million revenue-generating trips and record total revenue of more than AED 2.1 billion.

Net profit reached AED 1.098 billion in 2023.

Toll usage revenue, which represents 87.5 per cent of the total revenue, increased 11.7 per cent year-on-year (YoY) to AED 1.845 billion, the strongest full year performance since Salik commenced operations in 2007.

This was supported by the inflow of tourists and movement of individuals across Dubai.

The fourth quarter alone saw revenue-generating trips of 123.2 million, up 11.1 per cent YoY, also higher than the previous quarterly record of 113.8 million recorded in the second quarter of 2023.

During Q4 2023, the Al Maktoum Bridge gate saw the number of revenue-generating trips, excluding paid taxi trips, increase 53.6 per cent YoY, due to the ongoing closure of the nearby floating bridge and diversion of traffic through the gate.

As a result of the strong performance, the Board of Directors recommend distributing 100 per cent of H2 2023 net profit of AED 550 million as dividends to shareholders. This works out to 7.33 fils per share.

.@Salik_ae Record Full-Year Revenues of AED 2.1 billion in 2023

- Revenue-generating trips reached 461.4 million in 2023 and totalled 123.2 million in the fourth quarter, up 11.7% and 11.1% year-on-year

- Active registered accounts and vehicles increased 16.0% and 8.3% in 2023,… pic.twitter.com/qORJPK8JGk

— Dubai Media Office (@DXBMediaOffice) March 4, 2024