04-03-2025
Dubai's Salik posts higher revenue in 2024 after new toll gates, more fines issued
Dubai's toll gate operator Salik posted Dh2.3 billion in revenues in 2024 compared to Dh2.1 billion in the previous year, an increase of 8.7 per cent, driven by higher number of fines issued and increased toll usage.
The company's profits rose 6.7 per cent to reach Dh1.279 billion last year.
Revenue from fines increased by 9.3 per cent to Dh236.9 million in 2024, with the fourth quarter up 14.5 per cent to Dh62.1 million. The number of net violations grew 5.4 per cent in Q4 2024, reaching 730,000.
Net violations during the fourth quarter represented 0.4 per cent of net toll traffic. Revenue from fines contributed 10.3 per cent to total revenue in 2024.
Toll usage fee revenues grew over 8 per cent to Dh1.99 billion in 2024 as against Dh1.84 billion in the previous year.
Two new Salik gates, Business Bay gate and Al Safa South gate, were made operational on November 24, 2024, taking the total number of toll gates to 10 across the emirate.
'During the past year, Salik reached significant strategic milestones, having introduced two new toll gates within the core tolling business and established multiple partnerships. These strategic partnerships support our ambition to become a global leader in providing sustainable and smart mobility solutions. They also reflect our commitment to delivering innovative solutions that enhance road user experience, expand our ancillary revenue streams and supports financial returns,' said Mattar Al Tayer, chairman of Salik.
Salik implemented variable road toll pricing in Dubai from January 31, 2025.
During weekdays, the toll will be Dh6 during morning peak hours (6am to 10am) and evening peak hours (4pm to 8pm). For off-peak hours, between 10am and 4pm, and from 8pm to 1am, the toll will be Dh4.
Higher growth in 2025
'Our 2024 results were bolstered by particularly robust performance in the fourth quarter, with revenue-generating trips increasing 8 per cent year-on-year, at the top end of our guided range ... We are optimistic about the positive trends in Dubai's economy, which align with and support our growth and vision,' said Ibrahim Sultan Al Haddad, CEO of Salik.
As a result, Al Haddad said the firm has revised upward its forecast for 2025, projecting revenue growth of 28 to 29 per cent compared to FY24, alongside an EBITDA margin of 68 to 69 per cent.
'Our revised guidance includes contributions from the implementation of variable pricing and our two new gates, both of which have demonstrated the expected performance in their initial weeks of operation. I would like to reaffirm our confidence in expanding our ancillary revenue streams in 2025, following the successful collaboration with Emaar Malls to provide an innovative, barrier-free parking payment solution,' he said
