Salik Company PJSC, Dubai's exclusive toll gate operator, has reported a stellar financial performance for the fiscal year 2024, marking a significant milestone in its growth trajectory. The company recorded a total revenue of AED 2.3 billion, reflecting an 8.7% year-on-year increase. This robust growth is attributed to the strategic addition of two new toll gates and an increase in revenue-generating trips, which rose by 8% to 498.1 million.

EBITDA for the year reached AED 1.6 billion, up by 13.6% compared to the previous year, with an impressive margin of 68.9%. The net profit before tax surged by 16.6% to AED 1.3 billion, underscoring the effectiveness of Salik's cost efficiency measures and strategic expansions.

His Excellency Mattar Al Tayer, Chairman of the Board of Directors, expressed satisfaction with the company's performance, highlighting the successful introduction of new toll gates and strategic partnerships aimed at enhancing Salik's service offerings and expanding ancillary revenue streams. These initiatives align with Salik's ambition to become a global leader in sustainable and smart mobility solutions.

CEO Ibrahim Sultan Al Haddad emphasized the positive economic trends in Dubai, which support Salik's growth prospects. The company has revised its guidance for FY 2025, projecting a revenue growth of 28-29% compared to FY 2024, driven by innovative solutions such as variable pricing and strategic collaborations.

With Salik's strong financial results and strategic initiatives in place, the company's future appears promising. Investors might consider a 'buy' position, given the company's solid growth trajectory and potential for further expansion in the smart mobility sector.