Dubai, UAE — Salik has reported a revenue of AED509 million ($138 million) for the third quarter, which is its highest third-quarter performance since it began operations in 2007.
The 14.6 percent year-on-year revenue growth was supported by a strong growth in tourism and residency, with Dubai remaining an attractive destination both for visitors and people relocating to the city.
Salik reported a net profit of AED255 million during the third quarter of 2023, up 5.3 percent against the prior year.
Mattar Al Tayer, Chairman of the Board, and the Board of Directors of Salik Company said, ” Strong and sustained momentum in the third quarter is evidence that the Government of Dubai’s focus on expanding the economy, particularly focusing on population growth and maintaining the Emirate’s attractiveness to tourists, is bearing fruit. Salik continues to emerge as a leading tollgate operator globally, supported by a highly efficient business model and a buoyant local macroeconomic environment.”
Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, said Salik expects underlying revenue-generating trips to grow 9-10 percent compared to 2022 with an EBITDA margin in the range of 66-67 percent.
