The company "SALIK", the sole operator of road toll payment systems in Dubai, reported a growth in net profit for the first nine months of the current year to 822 million dirhams after tax, which constitutes an increase of 2.4% compared to the analogous period of the previous year.
For the reporting period, the company recorded a record total revenue of 1.64 billion dirhams. The company's profit accounting for financial expenses, taxes, amortization, and health amortization reached 1.115 billion dirhams for the first nine months of the current year, indicating a growth of 8.9% year on year, while the profit before tax totaled 903.3 million dirhams, increasing by 12.5% year on year.
Income from road tolls, accounting for 86.7% of total revenue, increased by 5.1% year on year to 1.422 billion dirhams for the first nine months of the current year.
For the third quarter of 2024, revenues from road tolls increased by 5.7% year on year, reaching 468.4 million dirhams. Profit grew by 8.8% year on year, amounting to 277.3 million dirhams.
The total number of trips generating revenue amounted to 355.6 million trips, increasing by 5.1% year on year.
The President of the Board of Directors of "SALIK" Matar Al-Tayer noted that the company demonstrates strong financial results for the first nine months of 2024, reflecting the flexibility of the company's business model and adherence to satisfying the growing demand for effective means of transportation in Dubai.
Al-Tayer highlighted that the company successfully implemented a partnership with "Emaar" in the third quarter to provide technological solutions for parking in "Dubai Mall", contributing to diversification and improvement of financial indicators.
The General Director of "SALIK" Ibrahim Sultan Al-Haddad announced that the good results for the nine months of 2024 are supported by a strong third quarter, where significant growth in the number of trips generating revenue was noted at 5.7% year on year, and key financial indicators have also been achieved.
According to the company's data, the number of active registered accounts increased by 7.1% year on year, amounting to 2.5 million accounts for the first nine months of the current year compared to 2.3 million accounts for the analogous period of 2023.
Thus, the company "SALIK" continues to strengthen its market position, demonstrating stable growth and development in the strategic plan, supported by strong financial indicators.
