Salik reports revenue of Dhs562 million in Q1 of 2024

DUBAI: The Board of Directors of Salik Company (Salik), Dubai’s exclusive toll gate operator, chaired by Mattar Al Tayer, Chairman of the Board, announced the Company’s financial results for the first quarter of 2024 (Q1 2024), logging with 122.8 million revenue-generating trips and total revenue of Dhs562 million. This marks an increase of 8.1 per cent YOY, the highest Q1 revenue-generating trips since inception.

Toll usage revenue, which represents 87.4 per cent of total revenue, also increased 8.1 per cent YOY to Dhs491 million, supported by continued strong growth in tourism and residency, with Dubai remaining an attractive destination both for visitors and new residents relocating to the city.

Commenting on the results, Mattar Al Tayer, Chairman of the Board of Directors of Salik, said, “Salik has delivered another strong quarter at the beginning of 2024, a continuation of the momentum from record performance in 2023.

Theresultsachievedintheperiodareatestament to our strategic vision and commitment to delivering long-term value to our shareholders, as well as to the positive macroeconomic environment in the UAE. GDP growth coupled with strong tourism inflow are evidence that the Government of Dubai’s initiatives to expand the economy, particularly focusing on population growth and maintaining the Emirate’s attractiveness to visitors, are bearing fruit.” Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented, “We are very pleased to have started the year strongly, with revenue-generating trips increasing by over 8 per cent year-on-year, supporting our ambition to become a global leader in mobility solutions.”