from 113.6 million trips during the first quarter
SALIC records record quarterly revenues of AED 454 million
The number of active accounts and vehicles registered in Salik increased by 4% and 7% respectively. Archival
SALIC announced yesterday record quarterly results, recording the highest quarterly revenue from fees for the use of the traffic tariff system during the first quarter of this year, the highest since the start of operations, as it increased by 8% to reach a record high of AED 454 million, contributing 87% to total revenues.
The number of revenue-generating trips increased by 7.9% to reach 113.6 million trips in the first quarter of 2023, compared to 105.3 million trips in the first quarter of 2022, surpassing the previous record level recorded before the pandemic, which reached 113.5 million trips in the first quarter of 2019.
The total number of flights through the eight Salik gates during the first three months of 2023, including discounted flights, grew compared to the same period in 2022 and the fourth quarter of the same year by 7.6% and 1.8% respectively.
This was driven by Dubai's resumption of business and tourism activities as usual, indicating an ongoing recovery from the pandemic.
The number of active accounts and the number of registered vehicles increased by 4% and 7% respectively, reaching 2.1 million accounts and 3.9 million vehicles by the end of the first quarter of this year compared to the same quarter of the previous year.
SALIC achieved a net profit of AED 275 million and a free cash flow of AED 325 million in the first quarter of this year.
EBITDA margins and net profit for the first quarter were 66.8% and 52.9% respectively, reflecting SALIC's seamless business model and strong franchise framework.
The Board of Directors of SALIC, the exclusive operator of toll gates in Dubai, during its meeting chaired by the Chairman of the Board of Directors, Mattar Al Tayer, approved the company's interim condensed financial results for the three months ended 31 March 2023.
"As a key player in Dubai's economy, SALIC intends to continue collaborating with stakeholders to create new opportunities for residents and visitors of Dubai," said Al Tayer, stressing that "the company has demonstrated a firm commitment to promoting capital market growth and supporting the country's economic development plans more broadly, through the pivotal role played by SALIC in Dubai's IPO program through its significant listing last September."
Million dirhams net profit of the company during the first 3 months of 2023.