November 29, 2023

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Salik delivers document toll-usage income in Q1-2023 as Dubai returns to ‘enterprise as common’

2 min read

The revenue-generating journeys of 113.6 million have thus exceeded ‘pre-pandemic peak degree, thanks to an entire reversion to business-as-usual financial and vacationer exercise and mobility’.

That in flip delivered a ‘strong’ internet revenue and free money circulation of Dh275 million and Dh325 million, respectively. The revenue, although, has are available decrease than a yr in the past. Even on a quarter-on-quarterbasis, there’s a dip, which Salik says was primarily from the ‘improve in finance prices and the absence of the legal responsibility write-back’.

Even with the drop, the margin on the most recent internet revenue remained at a sizeable 52.9 per cent.

As a key participant in Dubai’s economic system, Salik intends to persist in collaborating with stakeholders to determine recent alternatives for the Emirate of Dubai’s residents and guests

– Mattar Al Tayer, Chairman of Salik

“Salik achieved outstanding profitability within the first quarter of 2023, with a formidable EBITDA margin of 66.8 per cent, reflecting our dedication to unlock higher worth for our shareholders,” stated Ibrahim Sultan Al Haddad, CEO.

Salik revenues for the interval had been Dh520 million, up from Dh488 million a yr in the past.

In these three months, fines and penalties helped bulk up Salik revenues to Dh55.3 million, from Dh54.2 million. That is ‘broadly according to development within the variety of violations, internet of violation dismissals (631,000 in Q1-2023 in comparison with 620,000 a yr earlier). (The variety of internet violations remained largely unchanged as a fraction of internet toll site visitors, and income from fines and penalties contributed about 11 per cent to complete income.)

The variety of autos registered for Salik was larger by 6.9 per cent year-on-year and 5.5 per cent from the final December quarter to complete 3.9 million. This displays ‘Dubai’s ongoing profitable efforts to draw vacationers and expertise’.

Registered energetic accounts elevated 4.2 per cent year-on-year to 2.1 million. 

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