Salik Company PJSC

Salik Company PJSC, the exclusive toll gate operator in Dubai, has achieved the ISO 37301:2021 certification for Compliance Management Systems. This certification reflects Salik's commitment to adhering to laws and regulations set by the Securities and Commodities Authority, the Dubai Financial Market, and UAE's Federal Decree-law 32/2021. The achievement enhances Salik's reputation and boosts investor confidence, reinforcing its position as a leader in compliance management in the UAE. CEO Ibrahim Sultan Al Haddad emphasized the company's dedication to efficiency, transparency, and responsible business practices. Established as a public joint stock company in June 2022, Salik operates eight toll gates in Dubai, recording 593 million journeys in 2023. The company holds a 49-year concession agreement with the Roads and Transport Authority to manage toll gates in Dubai.

Salik Company PJSC, Dubai’s exclusive toll gate operator, reported a 12.5% increase in profit before tax for the first nine months of 2024, reaching AED 903.3 million. The company’s revenue for this period was AED 1,640.9 million, a 6.2% year-on-year increase, supported by a positive macroeconomic environment and tourism trends. Revenue-generating trips totaled 355.6 million, up 5.1% year-on-year. Net profit after tax rose 2.4% year-on-year to AED 822.0 million, despite the new 9% UAE corporate tax. Salik expects revenue-generating trips to increase by 24-25% in 2025, following the launch of two new toll gates and a parking partnership with Emaar at Dubai Mall. The company maintains its guidance for a 7-8% revenue growth in 2024, anticipating a strong fourth quarter.

Salik Company PJSC, the exclusive toll gate operator in Dubai, has formed a strategic partnership with Liva, a leading insurer in the GCC, to provide customized vehicle insurance solutions in the UAE. This collaboration aims to enhance convenience in the insurance renewal process and raise awareness about the importance of timely renewals. The partnership will utilize Salik's database to send reminders to customers about insurance coverage and vehicle registration renewals, directing them to a Liva-managed portal for easy policy renewals. This initiative is part of Salik's strategy to expand its ancillary revenue streams and establish itself as a leader in sustainable mobility solutions. The partnership, effective from the end of November, is expected to benefit Salik customers with advanced digital insurance services, aligning with the future development of Dubai. Salik's CEO, Ibrahim Haddad, emphasized the goal of providing innovative and convenient services to enhance customer satisfaction and support the company's growth beyond its core tolling business.

The Board of Directors meeting for Salik Company PJSC has been postponed to Friday, November 15, 2024, at 8:00 am. Despite the postponement, the interim financial statements for the period ending September 30, 2024, will still be issued on November 13, 2024.

Salik Company (PJSC) has announced that two new toll gates, the "Business Bay Gate" and the "Al Safa South Gate," will begin operations on Sunday, November 24, 2024. This follows a disclosure by Salik's Board of Directors on August 28, 2024. For further details, individuals are encouraged to visit the Salik website.

On October 2, 2024, Ibrahim Sultan Al Haddad, Chief Executive Officer, addressed Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding inaccurate publications circulating on social media. He clarified that these publications are not accurate and urged customers and shareholders to rely only on official sources such as the Dubai Financial Market (DFM) and the SALIK website (www.salik.ae) for any official announcements or updates. Al Haddad emphasized SALIK's commitment to the disclosure and transparency guidelines set by the Securities and Commodities Authority (SCA) and DFM, ensuring that any significant information will be promptly shared with the market once confirmed and finalized.