Salik records Dhs1.53b revenue in H1 of this year, up 39.5% YoY

Staff Reporter, Gulf Today

Salik Company, Dubai’s exclusive toll gate operator, on Wednesday announced its financial results for the three-month and six-month periods ended June 30, 2025 (“Q2 2025” and “H1 2025”). Total revenue for H1 2025 increased 39.5 per cent YoY to Dhs 1,527.3 million (Dhs1.53 billion), supported by a 45.6 per cent YoY increase in Q2 2025. EBITDA grew 44.2per cent in H1 2025 to Dhs 1,065.0 million with an EBITDA margin of 69.7 per cent. The solid results were driven by the two new gates introduced in November 2024 amidst an overall positive macro environment and the implementation of variable pricing which came into effect at the end of January 2025, with Q2 marking the first full quarter of the new variable pricing system.

In Salik’s core tolling business, total chargeable trips reached 318.4 million in H1 2025, with total chargeable trips of 160.4 million in Q2 2025, a 1.6 per cent increase versus 158.0 million in Q1 2025. This was despite Q1 being a seasonally stronger period for Salik compared to Q2, alongside the redistribution of traffic during the Ramadan period in Q1. In view of the strong first half results, the Board of Directors have recommended a cash dividend of Dhs 770.9 million, equivalent to 10.278 fils per share, representing 100per cent of H1 2025 profit.

Mattar Al Tayer, Chairman of the Board of Directors of Salik, said: “Salik’s strong performance in the first half of 2025 underscores the strength of its resilient business model and high operational efficiency. During this period, the Company achieved a 39.5 per cent year-on-year increase in total revenue, further solidifying its robust financial position. This performance reaffirms our continued commitment to delivering long-term value for shareholders while supporting Dubai’s vision of becoming a global leader in smart and sustainable mobility. In view of the strong first half results and our dedication to our shareholders, the Board of Directors have recommended a cash dividend of Dhs 770.9 million, equivalent to 10.278 fils per share, representing 100per cent of H1 2025 profit.

He added: We continue to benefit from the Emirate’s economic momentum, bolstered by sustained growth in tourism, real estate, and infrastructure spending. Building on this, and with continued progress across both our core tolling operations and ongoing success in expanding our ancillary revenue streams, we are pleased to be upgrading our full year 2025 guidance, with revenue expected to increase 34-36per cent compared to 2024, up from 28-29per cent previously, and with EBITDA margins expectations in the range of 68.5-69.5per cent. Our new guidance underscores our confidence in Salik’s outlook and future growth potential, particularly given our commitment to strengthening our non-core offering and exploring new opportunities within ancillary revenues.”

Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented: “We are pleased to report another solid quarter of performance, with a strong .40per cent YoY growth across all key financial metrics including revenue, EBITDA and net profit growth. Our results reflect the ongoing strength of our tolling business and the growing contribution of our non-tolling initiatives, including our digital partnerships in providing mobility payment solutions which continue to gain traction amongst users.

Total trip volumes remained resilient in the period, increasing 39.6per cent compared to H1 2024, supported by the addition of the two new gates, the ongoing population growth and record levels of tourism inflow, which increased 7per cent between January and May compared to last year with hotel occupancy also increasing to 83per cent, up from 81per cent in the prior year. Against this backdrop and with the visibility we now have into the second half of the year, we are highly confident in Salik’s future growth, as seen in our revised revenue guidance for 2025, and we remain well-positioned to generate sustained value as we continue to scale, diversify, and innovate across the mobility ecosystem.”

The total number of trips, including discounted trips, made through Salik’s toll gates grew 39.6 per cent YoY in H1 2025 to record 424.2 million trips, driven by a strong 44.3per cent growth in trips in Q2 2025 reaching 213.4 million, supported by the addition of the two new gates and Dubai’s robust macroeconomic conditions, tourism inflow and continued attraction of new residents.

Total chargeable trips reached 160.4 million in Q2 2025, a 1.6per cent improvement compared to 158.0 million in Q1 2025, driven by strong growth in the use of Salik toll roads during the peak period (Dhs 6), which yielded 57.7 million trips, up 46.7per cent vs. Q1 2025, mainly due to the introduction of the two new gates, with trips in the past midnight period (Dhs 0), totaling 16.4 million, up 46.8per cent compared to Q1.

The Q2 2025 period represented the first full quarter since implementing the new variable pricing system. It is noteworthy that all revenue-generating trips conducted between January 1 and January 30, 2025 during Q1 2025 were categorized under off-peak trips; hence the decline of 19.7per cent in off-peak chargeable trips between Q2 2025 and Q1 2025.

Toll usage fees: performance was strong during the first half, increasing 42.3per cent YoY to Dhs 1,356.9 million, with toll usage fees growing 49.4per cent YoY to Dhs 691.3 million in Q2 2025.