Yesterday, Salik announced record quarterly results, recording the highest quarterly revenues from fees for using the traffic toll system during the first quarter of this year, the highest since the start of operation, as it rose 8% to reach a record of 454 million dirhams, contributing 87%. in total revenue.
The number of revenue-generating trips increased by 7.9% to reach 113.6 million trips in the first quarter of 2023, compared to 105.3 million trips in the first quarter of 2022, exceeding the previous record level recorded before the pandemic, which amounted to 113.5 million trips in the first quarter of 2023. 2019
The total number of trips through the eight Salik gates during the first three months of 2023, including trips subject to a discount, grew compared to the same period in 2022 and the last quarter of the same year, by 7.6% and 1.8%, respectively.
This was prompted by Dubai’s resumption of commercial and tourism activities as usual, which indicates a continuous recovery from the consequences of the pandemic.
The number of active accounts and the number of registered vehicles increased by 4% and 7%, respectively, reaching 2.1 million accounts and 3.9 million vehicles by the end of the first quarter of this year, compared to the same quarter of the previous year.
Salik achieved a net profit of 275 million dirhams and a free cash flow of 325 million dirhams in the first quarter of this year.--
EBITDA and net profit margins for the first quarter were 66.8% and 52.9% respectively, reflecting SALIC’s smooth business model and strong franchise framework.
During its meeting chaired by the Chairman of the Board, Mattar Al Tayer, the Board of Directors of Salik, the exclusive operator of toll gates in Dubai, approved the company’s interim financial results for the three months ending on March 31, 2023.
Al Tayer said, “As a major player in Dubai’s economy, Salik intends to continue cooperating with the relevant authorities to find new opportunities for residents and visitors of the Emirate of Dubai.” broader, through the pivotal role that Salik played in the public offerings program in Dubai through its important listing last September.
One million dirhams, the net profit of the “company” during the first 3 months of 2023.