Salik Company PJSC

Salik Company PJSC, the exclusive toll gate operator in Dubai, has joined the United Nations Global Compact, the world's largest corporate sustainability initiative. This move aligns Salik with over 20,000 companies globally committed to upholding principles in human rights, labor, environment, and anti-corruption. The membership supports Salik's long-term vision of creating positive social and environmental impacts alongside its business activities. CEO Ibrahim Haddad emphasized the company's commitment to ethical standards and environmental responsibility, stating that the collaboration will help integrate sustainable practices and contribute to the UN's Sustainable Development Goals (SDGs). Salik is exploring innovative solutions to minimize its environmental footprint and promote social progress.

Salik Company PJSC announced that its barrier-free parking payment solution will be operational at Dubai Mall starting July 1, 2024, covering the Fashion, Grand, and Cinema parking zones. The agreement with Emaar Malls will last for five years. Salik's technology will enable automatic fee collection using vehicle plate recognition, enhancing the parking experience for visitors. This initiative is part of Salik's strategy to expand its ancillary revenue streams beyond its core tolling business. Salik aims to leverage its high penetration rate in the UAE and is exploring further growth opportunities in the private parking market in Dubai.

Salik Company, Dubai's exclusive toll gate operator, reported Q1 2024 revenues of AED 562 million, an increase of 8.1% from the previous year. The company attributed the growth to a strong macroeconomic environment and positive tourism trends. Revenue-generating trips also increased by 8.1% to 122.8 million. The number of active registered accounts rose by 16.5% to 2.5 million, while active vehicles increased by 9.2% to 4.1 million. Net profit before tax grew by 10.7% to AED 304.7 million, while net profit after tax was AED 277.3 million, up 0.7% from the previous year, after accounting for the new 9% corporate tax in the UAE. The company also announced the addition of two new toll gates, to be operational by November 2024.

On May 6, 2024, a letter was sent to Mr. Hamed Ahmed Ali, Chief Executive Officer of Dubai Financial Market, regarding Salik Company PJSC's earnings call meeting. The meeting with analysts is scheduled for Monday, May 13, 2024, at 12:00 PM to discuss the financial results for the first quarter, which ended on March 31, 2024. A presentation will be available on the company's website prior to the meeting. The letter was signed by Ibrahim Sultan Al Haddad, Chief Executive Officer.

On May 6th, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, by Ibrahim Sultan Al Haddad, the CEO of Salik Company PJSC. The letter informed Mr. Ali about a Board of Directors meeting scheduled for May 13th, 2024, at 8:00 am. The meeting's agenda includes discussing the condensed interim financial statements for the period ending March 31st, 2024, and normal business activities.

Salik, the sole toll gate operator in Dubai, has donated AED 200,000 to the Dubai Autism Center as part of its corporate social responsibility (CSR) initiatives. The donation was made during the Center's 18th Autism Awareness Campaign, which aligns with World Autism Awareness Day. The funds will support the Center's efforts to improve the quality of life for individuals with autism and their families in the UAE. Salik's CEO, Ibrahim Al Haddad, stated that the donation reflects the company's commitment to inclusivity and societal wellbeing.