Dubai’s Salik posts 11.8 per cent surge in full-year revenue

Dubai’s Salik posts 11.8 per cent surge in full-year revenue

Dubai’s Salik said its full-year revenue jumped by 11.8 per cent to $517m (Dhs1.9bn), supported by an increase in revenue from toll usage fees “which was driven by positive seasonality effects as well as organic growth in the number of trips.” The road-toll operator said the number of revenue-generating trips jumped 13 per cent to 413 million trips compared to 367 million in 2021, driven by continued recovery from the pandemic as restrictions were fully lifted in Dubai. The increase in revenue-generating trips was also attributed to the positive growth activity and traffic growth. Salik said toll usage fees reached Dhs1.7bn last year from Dhs1.5bn a year earlier. The company reported a 7 per cent year-on-year increase in the number of vehicles registered with Salik to 3.7 million by the end of December 2022 against 3.5 million for the same period a year earlier, reflecting Dubai’s ongoing efforts to attract tourists and talent. Similarly, tag activations climbed 13 per cent year-on-year to 779,000 new tags in 2022. However, Salik’s quarterly net profit plunged by 44.6 per cent to Dhs287m down from Dhs415m for the same period the previous year. The toll operator, in its preliminary financial results statement, said comparing