Salik reports $205mln in revenue for Q1 2025
DUBAI - Salik Company, Dubai's exclusive toll gate operator, today announced its financial results for the three-month period ended 31st March 2025 (Q1 2025). Total revenue for Q1 grew by 33.7 percent YoY to reach AED751.6 million.
EBITDA for Q1 increased 37.9 percent YoY to AED519.6 million. In Salik's core tolling business, total chargeable trips reached 158.0 million following the introduction of variable pricing at the end of January 2025 and the launch of the two new toll gates in November 2024.
EBITDA margin reached 69.1 percent in Q1 2025, compared to 67.1 percent in Q1 2024, representing a 210 bps expansion YoY, supported by strong revenue growth in the period. The EBITDA margin also improved in comparison to 68.9 percent in FY24.
Salik's net profit before taxes totaled AED407.2 million in Q1 2025, marking a strong 33.6 percent YoY increase.
Mattar Al Tayer, Chairman of the Board of Directors of Salik, said, 'Our exceptional Q1 performance reflects a continued focus on delivering long-term value to shareholders and our ambition to become a global leader in providing smart and sustainable mobility solutions. Dubai's robust economic growth – driven by the visionary leadership of the emirate, has played a key role in fuelling our positive momentum and creating a strong foundation for long-term sustainable growth."
He added that the company expects annual total revenue to grow by between 28 - 29 percent, expressing optimism about diversifying its operations, expanding beyond the Emirate of Dubai, and exploring new partnerships aimed at enhancing customer experience — all of which are expected to contribute positively to both short- and long-term profit growth.
Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented, 'We've entered 2025 with strong momentum, with our core tolling business continuing to thrive, bolstered by the opening of two new toll gates in late 2024. We have also maintained progress in our ancillary revenue streams, with both the Dubai Mall and Parkonic parking partnerships seeing good traction with users in the first quarter.'
Total chargeable trips, accounting for the new variable pricing, reached 158 million, with total revenue growth exceeding 30 percent.
Total revenue from Salik's parking partnerships with Emaar Malls and Parkonic reached AED2.8 million in Q1 2025.
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