Dubai’s Salik reports net profit of Dhs242m for Q3 2022

Dubai’s Salik reports net profit of Dhs242m for Q3 2022

Salik Company reported a net profit of Dhs242m for Q3 of 2022, with revenues increasing 9.1 per cent year-on-year (YoY) to Dhs445m while earnings before interest, taxes, depreciation and amortisation (EBITDA) reached Dhs291m, yielding a strong margin of 65.4 per cent. During a meeting presided over by Mattar Al Tayer, chairman of the Board of Directors of Salik Company, the board approved Salik’s condensed interim financial results for the three-month and nine-month periods ending September 30 — the first set of financial results for Dubai’s exclusive tollgate operator, as a standalone entity following its admission to the Dubai Financial Market. Al Tayer said: “The results were reflective of the company’s strength as Dubai’s exclusive road toll operator. Salik’s strong business model positions it at the heart of the roads and transport sector’s expansion plans in Dubai. Ibrahim Sultan Al Haddad, CEO of Salik, commented, “Salik closed Q3 2022 with a strong financial performance that showcases our robust business model as the exclusive operator of the emirate of Dubai’s eight toll gates. This is demonstrated by our robust revenue and net profit, which reached Dhs445m and Dhs42m respectively, reflecting our strong operational performance during the quarter.” “During Q3 2022, we successfully