Salik Company PJSC

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.

Salik Company, the sole toll gate operator in Dubai, has warned customers about clone websites, scam emails, and social media frauds that falsely use its name. The company has seen a rise in phishing messages offering fake investment opportunities in Salik stocks and providing false links for account recharges. To protect customers, Salik has advised them to use secure URLs, avoid suspicious links, and verify the legitimacy of messages claiming to be from Salik. CEO Ibrahim Sultan Al Haddad has emphasized the importance of public awareness and advised customers not to disclose personal and financial information to these fraudulent accounts.

Salik Company PJSC, the exclusive toll gate operator in Dubai, has concluded its Annual General Meeting (AGM), approving the distribution of AED 550 million in cash dividends, equivalent to 7.3338 fils per share. This represents 100% of the net profit for the second half of 2023. The total cash dividends for 2023 amounted to AED 1,097,962,219, or 14.6395 fils per share, which is approximately 100% of the distributable net profit for 2023. The AGM also approved various Special Resolutions, including amendments to the company's Articles of Association and Corporate Social Responsibilities policy. The company reported a record total revenue of AED 2.1 billion in 2023, an increase of 11.4% YoY.