Dubai’s toll operator Salik has reported a net profit of AED275m ($75m), for the first three months of 2023.
The announcement was made by Mattar Al Tayer, Chairman of Salik.
An official statement to DFM said: “Salik recorded the highest level of quarterly revenue-generating trips and toll usage revenue since the start of operations in 2007, at 113.6m trips and AED454m, respectively.
Salik in Dubai
“Toll usage revenue, which contributed 87 per cent of total revenue, increased 7.9 per cent year-on-year on the back of a return to business-as-usual in Dubai following the complete lifting of Covid-19 restrictions, as well as solid organic growth in commercial and tourist activity.
“Salik achieved net profit of AED275m during the quarter, with a net profit margin of 52.9 per cent”.
Al Tayer expressed satisfaction with the company’s strong results during the first quarter of 2023.
He emphasised “Salik’s position as Dubai’s exclusive road toll operator and its contribution to the transportation sector’s expansion” expressing confidence in the company’s ability to provide long-term value to shareholders.
He also recognised the city’s economic resilience and ongoing efforts to attract a diverse population.
He said: “As a key player in Dubai’s economy, Salik intends to persist in collaborating with stakeholders to establish fresh opportunities for residents and visitors, confirming that the company’s unwavering commitment to advancing capital market growth and supporting the emirate’s wider economic development plans was exemplified by Salik’s pivotal role in Dubai’s initial public offering program through its momentous listing last September.”
Ibrahim Sultan Al Haddad, CEO of Salik, said: “We are delighted to announce Salik’s financial and operational performance for the first quarter of 2023, following our successful listing on DFM last September.
“The results we achieved demonstrated our ability to attain the desired level of success, driven by Dubai’s economic resilience and record usage of our toll roads.”
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