Latest news with #IbrahimSultanAlHaddad
Dubai Eye
3 days ago
- Business
- Dubai Eye
Salik posts AED 1.53 billion revenue in H1
Salik has posted AED 1.527 billion in revenue for the first half of the year, marking 39.5 per cent in growth driven by the introduction of variable pricing at the end of January and two new toll gates last November. Dubai's toll operator said net profit reached AED 770.9 million, recording an increase of 41.5 per cent year-on-year. It added that total chargeable trips reached 318.4 million in the first half of 2025. Total chargeable trips hit 160.4 million in second quarter, marking a 1.6 per cent increase versus 158.0 million in the first quarter. Salik toll fees collected during the same period grew 42.3 per cent year-on-year to AED 1,356.9 million, while revenue from fines increased 15.7 per cent year-on-year to AED 134.3 million during the same period. Tag activation fees also grew in the first half, up 16.2 per cent YoY to AED 22.9 million. "Our financial results exceeded expectations, with profit margins considered among the highest globally. This reflects the efficiency of Salik's business model and its ability to deliver the best sustainable financial results for its stakeholders," said Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik. Salik Reports Strong Financial Performance in H1 2025. Total revenue AED 1.53 billion 39% ⬆️ Net profit AED 770 million 41% ⬆️ Total chargeable trips 318 million Board Proposes Dividend of AED 770.9 million @Salik_ae — Dubai Media Office (@DXBMediaOffice) August 13, 2025 Total ancillary revenue for Salik reached AED 8.7 million driven by revenues from partnerships with Emaar Malls and Parkonic. The strong performance was driven by increased transaction volumes at Dubai Mall in addition to increasing traction in its cooperation with Parkonic since mid-February, with rollout across several locations progressing well, as operations are now live in 73 out of 154 locations, Salik said in a statement. Furthermore, the company's partnership with Liva Group has continued to gain good traction with consumers during H1.
Gulf Today
3 days ago
- Business
- Gulf Today
Salik records Dhs1.53b revenue in H1 of this year, up 39.5% YoY
Staff Reporter, Gulf Today Salik Company, Dubai's exclusive toll gate operator, on Wednesday announced its financial results for the three-month and six-month periods ended June 30, 2025 ('Q2 2025' and 'H1 2025'). Total revenue for H1 2025 increased 39.5 per cent YoY to Dhs 1,527.3 million (Dhs1.53 billion), supported by a 45.6 per cent YoY increase in Q2 2025. EBITDA grew 44.2per cent in H1 2025 to Dhs 1,065.0 million with an EBITDA margin of 69.7 per cent. The solid results were driven by the two new gates introduced in November 2024 amidst an overall positive macro environment and the implementation of variable pricing which came into effect at the end of January 2025, with Q2 marking the first full quarter of the new variable pricing system. In Salik's core tolling business, total chargeable trips reached 318.4 million in H1 2025, with total chargeable trips of 160.4 million in Q2 2025, a 1.6 per cent increase versus 158.0 million in Q1 2025. This was despite Q1 being a seasonally stronger period for Salik compared to Q2, alongside the redistribution of traffic during the Ramadan period in Q1. In view of the strong first half results, the Board of Directors have recommended a cash dividend of Dhs 770.9 million, equivalent to 10.278 fils per share, representing 100per cent of H1 2025 profit. Mattar Al Tayer, Chairman of the Board of Directors of Salik, said: 'Salik's strong performance in the first half of 2025 underscores the strength of its resilient business model and high operational efficiency. During this period, the Company achieved a 39.5 per cent year-on-year increase in total revenue, further solidifying its robust financial position. This performance reaffirms our continued commitment to delivering long-term value for shareholders while supporting Dubai's vision of becoming a global leader in smart and sustainable mobility. In view of the strong first half results and our dedication to our shareholders, the Board of Directors have recommended a cash dividend of Dhs 770.9 million, equivalent to 10.278 fils per share, representing 100per cent of H1 2025 profit. He added: We continue to benefit from the Emirate's economic momentum, bolstered by sustained growth in tourism, real estate, and infrastructure spending. Building on this, and with continued progress across both our core tolling operations and ongoing success in expanding our ancillary revenue streams, we are pleased to be upgrading our full year 2025 guidance, with revenue expected to increase 34-36per cent compared to 2024, up from 28-29per cent previously, and with EBITDA margins expectations in the range of 68.5-69.5per cent. Our new guidance underscores our confidence in Salik's outlook and future growth potential, particularly given our commitment to strengthening our non-core offering and exploring new opportunities within ancillary revenues.' Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented: 'We are pleased to report another solid quarter of performance, with a strong .40per cent YoY growth across all key financial metrics including revenue, EBITDA and net profit growth. Our results reflect the ongoing strength of our tolling business and the growing contribution of our non-tolling initiatives, including our digital partnerships in providing mobility payment solutions which continue to gain traction amongst users. Total trip volumes remained resilient in the period, increasing 39.6per cent compared to H1 2024, supported by the addition of the two new gates, the ongoing population growth and record levels of tourism inflow, which increased 7per cent between January and May compared to last year with hotel occupancy also increasing to 83per cent, up from 81per cent in the prior year. Against this backdrop and with the visibility we now have into the second half of the year, we are highly confident in Salik's future growth, as seen in our revised revenue guidance for 2025, and we remain well-positioned to generate sustained value as we continue to scale, diversify, and innovate across the mobility ecosystem.' The total number of trips, including discounted trips, made through Salik's toll gates grew 39.6 per cent YoY in H1 2025 to record 424.2 million trips, driven by a strong 44.3per cent growth in trips in Q2 2025 reaching 213.4 million, supported by the addition of the two new gates and Dubai's robust macroeconomic conditions, tourism inflow and continued attraction of new residents. Total chargeable trips reached 160.4 million in Q2 2025, a 1.6per cent improvement compared to 158.0 million in Q1 2025, driven by strong growth in the use of Salik toll roads during the peak period (Dhs 6), which yielded 57.7 million trips, up 46.7per cent vs. Q1 2025, mainly due to the introduction of the two new gates, with trips in the past midnight period (Dhs 0), totaling 16.4 million, up 46.8per cent compared to Q1. The Q2 2025 period represented the first full quarter since implementing the new variable pricing system. It is noteworthy that all revenue-generating trips conducted between January 1 and January 30, 2025 during Q1 2025 were categorized under off-peak trips; hence the decline of 19.7per cent in off-peak chargeable trips between Q2 2025 and Q1 2025. Toll usage fees: performance was strong during the first half, increasing 42.3per cent YoY to Dhs 1,356.9 million, with toll usage fees growing 49.4per cent YoY to Dhs 691.3 million in Q2 2025.
ARN News Center
3 days ago
- Business
- ARN News Center
Salik posts AED 1.53 billion revenue in H1
Salik has posted AED 1.527 billion in revenue for the first half of the year, marking 39.5 per cent in growth driven by the introduction of variable pricing at the end of January and two new toll gates last November. Dubai's toll operator said net profit reached AED 770.9 million, recording an increase of 41.5 per cent year-on-year. It added that total chargeable trips reached 318.4 million in the first half of 2025. Total chargeable trips hit 160.4 million in second quarter, marking a 1.6 per cent increase versus 158.0 million in the first quarter. Salik toll fees collected during the same period grew 42.3 per cent year-on-year to AED 1,356.9 million, while revenue from fines increased 15.7 per cent year-on-year to AED 134.3 million during the same period. Tag activation fees also grew in the first half, up 16.2 per cent YoY to AED 22.9 million. "Our financial results exceeded expectations, with profit margins considered among the highest globally. This reflects the efficiency of Salik's business model and its ability to deliver the best sustainable financial results for its stakeholders," said Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik. Salik Reports Strong Financial Performance in H1 2025. Total revenue AED 1.53 billion 39% ⬆️ Net profit AED 770 million 41% ⬆️ Total chargeable trips 318 million Board Proposes Dividend of AED 770.9 million @Salik_ae — Dubai Media Office (@DXBMediaOffice) August 13, 2025 Total ancillary revenue for Salik reached AED 8.7 million driven by revenues from partnerships with Emaar Malls and Parkonic. The strong performance was driven by increased transaction volumes at Dubai Mall in addition to increasing traction in its cooperation with Parkonic since mid-February, with rollout across several locations progressing well, as operations are now live in 73 out of 154 locations, Salik said in a statement. Furthermore, the company's partnership with Liva Group has continued to gain good traction with consumers during H1.
Hi Dubai
30-06-2025
- Business
- Hi Dubai
Salik Wins Global Award for Corporate Governance Excellence
Salik, Dubai's exclusive toll gate operator, has won the '3G Excellence Award for Advocacy and Commitment to Corporate Governance 2025,' a prestigious accolade granted by the British Cambridge Foundation during the Global Good Governance Summit in Brunei. The award marks a significant milestone for Salik, recognizing its steadfast commitment to transparency, accountability, and ethical leadership. It positions the company among a select group of internationally recognized firms excelling in corporate governance. The recognition follows Salik's detailed presentation to the judging panel by its internal audit, compliance, and enterprise risk management teams. Their integrated efforts showcased the company's robust governance framework and helped secure the panel's trust. CEO Ibrahim Sultan Al Haddad credited the award to the company's strong culture of governance and the collective efforts of its employees. He emphasized that corporate governance remains a cornerstone of Salik's long-term strategy and a vital component of investor confidence and business sustainability. Al Haddad further noted that the achievement aligns with Dubai's broader goals to become a global smart city and supports both the UAE 2031 development agenda and Vision 2071. Since its inception, Salik has steadily built a reputation for aligning with global best practices, bolstering its appeal to investors and reinforcing its role in supporting the UAE's economic and innovation goals. News Source: Dubai Media Office
Hi Dubai
19-05-2025
- Business
- Hi Dubai
Salik Achieves ISO 37001 Certification for Anti-Bribery Management System
Salik Company PJSC (Salik), the exclusive toll gate operator of the Emirate of Dubai, has achieved a major governance milestone by receiving the prestigious ISO 37001 certification for its Anti-Bribery Management System (ABMS). This global recognition underscores Salik's unwavering commitment to integrity, transparency, and ethical excellence across all its operations. The certification was awarded following a comprehensive evaluation of Salik's Anti-Bribery and Anti-Fraud framework, which is aligned with leading regulatory standards including those of the Securities and Commodities Authority (SCA), Dubai Financial Market (DFM), and UAE Companies Law (CCL). Salik's Compliance Section, owner of Anti Bribery management system within Salik, led the certification process, reinforcing the company's proactive approach to fostering a strong culture of accountability and corporate governance. Mr. Ibrahim Sultan Al Haddad, CEO of Salik, said: "Achieving ISO 37001 certification marks an important milestone in Salik's journey towards becoming a global benchmark in corporate governance and ethical business conduct. It reflects our deep commitment to operating with the highest standards of transparency and accountability, while creating sustainable value for our shareholders, stakeholders, and the broader community." ISO 37001 is the international standard for Anti-Bribery Management Systems, specifying a series of measures organisations can implement to prevent, detect, and address bribery. By meeting this standard, Salik demonstrates it has instituted best-in-class internal controls and proactive measures to mitigate corruption risks. This achievement strengthens Salik's position as a well-governed listed entity and enhances investor confidence in its ethical and transparent business practices. News Source: Salik
