Press releases, Reports & Disclosures for Salik Company PJSC

On November 29, 2023, Mr. Ibrahim Sultan Al Haddad, CEO of Salik Company PJSC, sent a letter to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, informing him about a forthcoming Board of Directors meeting. The meeting is scheduled for December 7, 2023, at 8:30 am, and will discuss and approve normal business activities.

Salik, the exclusive toll gate operator in Dubai, reported its highest Q3 revenue figures since its inception in 2007, with revenues of AED 509 million and a 14.2% YoY growth. Revenue-generating trips reached approximately 110.8 million in Q3 2023, up 14.6% YoY, due to a favourable macroeconomic environment in Dubai and its appeal to tourists and new residents. Active registered accounts and vehicles increased by 13.0% and 8.8% YoY, respectively. Salik also reported a net profit of AED 255 million, a 5.3% YoY growth, and free cash flow of approximately AED 359 million. The company celebrated key operational milestones such as the inauguration of a new eco-friendly office and the one-year anniversary of its award-winning listing on the Dubai Financial Market.

Automobiles Company and Salik have entered into a strategic partnership aimed at enhancing customer experience. The partnership will streamline processes and offer Salik tags, providing a hassle-free experience for customers. The agreement was signed by Tariq Ismail Mohammed, CTO of Salik, and Salah Yamout, COO at Arabian Automobiles. Both companies expressed excitement over the collaboration, stating it sets a new benchmark for customer-focused partnerships in the automotive industry.