Dubai: Salik Company, the exclusive toll gate operator in Dubai, announced its financial results for the first quarter of 2025, reporting a significant growth in revenue. Total revenue for the period reached AED751.6 million, marking a 33.7 percent increase compared to the same quarter in the previous year.
According to Emirates News Agency, Salik's EBITDA for the first quarter rose by 37.9 percent year-on-year, amounting to AED519.6 million. This growth was attributed to the core tolling business, which saw total chargeable trips increase to 158 million. This surge in trips followed the introduction of variable pricing at the end of January 2025 and the opening of two new toll gates in November 2024.
The company's EBITDA margin improved to 69.1 percent in Q1 2025, compared to 67.1 percent in Q1 2024, representing a 210 basis point expansion year-on-year. This margin also showed a slight improvement from the 68.9 percent recorded in the fiscal year 2024. Net profit before taxes for Salik reached AED407.2 million, reflecting a 33.6 percent increase from the previous year.
Mattar Al Tayer, Chairman of the Board of Directors of Salik, emphasized the company's focus on delivering long-term shareholder value and its ambition to become a leader in smart and sustainable mobility solutions. He acknowledged Dubai's economic growth, driven by the emirate's visionary leadership, as a key factor in Salik's positive performance. Al Tayer also expressed optimism about expanding operations beyond Dubai and exploring new partnerships to enhance customer experience, which are expected to boost profit growth.
Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, noted the company's strong start to 2025, with the core tolling business thriving due to the new toll gates. He highlighted progress in ancillary revenue streams, with partnerships like those with Dubai Mall and Parkonic parking showing good traction among users in the first quarter.
Total revenue from Salik's parking partnerships with Emaar Malls and Parkonic amounted to AED2.8 million in Q1 2025, further contributing to the company's impressive financial performance.