Emirates news agency – 242 million dirhams, “Salik” net profit in the third quarter

DUBAI, 10th November, 2020 (WAM) – Salik made a net profit of 242 million dirhams in the third quarter of 2022, at a rate of 0.03 dirhams per share, and recorded an increase in revenues of 9.1% , compared to the third quarter of 2021, to reach 445 million dirham.dirham, as a result of the strong operating performance, reflecting a resumption of economic movement and traffic growth. , taxes, depreciation and amortization was equal to 291 million dirhams, with a profit margin of 65.4%.

During the meeting chaired by SE Mattar Al Tayer, Chairman of the Board, Salik’s Board of Directors approved the half year financial results for the quarters and nine months ending September 30, 2022, which are the first financial results to be issued as independent company after its listing on the Dubai financial market.
His Excellency Mattar Al Tayer expressed his satisfaction with the results achieved by the company in recent months, which confirm the strength of the company, which is the exclusive operator of the traffic tariff system in Dubai, as well as the adoption of a model of business that qualifies it to remain at the center of the expansion plans of the road and transport sector.
He said: We have a positive outlook as we are in a strong position to benefit from Dubai’s ambitious expansion plans and natural growth initiatives for our business and we have great confidence in the company’s ability to deliver added value to all shareholders. long-term .
For his part, Ibrahim Sultan Al-Haddad, CEO of Salik, said: The financial performance indicators for the third quarter of 2022 confirm the strength and solidity of the company’s unique business model as the exclusive operator of the eight toll booths in the Emirate of Dubai, and this is clearly evident in the strong operational performance and high levels: revenues of AED 445 million and profitability of AED 242 million.
He added that the company managed during the third quarter to complete the company’s public offering and began its journey with new shareholders as a publicly traded company on the Dubai financial market on September 29, after recording a record number of requests for IPO, exceeding the offer by 49 times, confirming the solidity of the economic foundations of Dubai Financial Markets and the strong investment for Salik.
Al-Haddad explained that the company recently appointed Salik’s Chief Technology Officer and Head of Support Services, both of whom are highly skilled and experienced citizens the company needs to support its growth.
The total number of trips through the eight Salik ports increased by 11%, recording around 128 million trips in the third quarter of 2022, compared to around 116 million trips in the same period last year. In turn, the number of revenue-generating flights increased in line with the increase in the total number of flights, reaching 97 million flights in the third quarter of 2022.
The total number of trips through the Salik Gates during the first nine months of this year increased by 15% to reach around 395 million trips, compared to around 343 million trips, in the same period last year, and these indicators reflect the rapid recovery from the repercussions of the pandemic, and the positive growth that was achieved by hosting Expo 2020. The number of revenue-generating flights in the indicated period increased by approximately 16% to reach approximately 302 million flights, to facing approximately 260 million flights for the first nine months of 2021.