Salik Company (SALIK) H2 2024 earnings summary

Executive summary

• Revenue rose 8.7% year-over-year to AED 2,291.9 million, driven by higher toll usage and two new toll gates operational from November 2024.

• Net profit after tax increased 6.1% year-over-year to AED 1,164.5 million, despite a new 9% corporate tax effective January 2024.

• Revenue-generating trips grew 8.0% year-over-year to approximately 498.1 million.

Financial highlights

• Total assets reached AED 7,985.9 million at year-end 2024, up from AED 5,223.8 million in 2023.

• Shareholders' equity increased to AED 1,088.0 million from AED 662.5 million year-over-year.

• Net operating profit was AED 1,488.0 million, up from AED 1,307.1 million in 2023.

• Earnings per share rose to AED 0.155 from AED 0.146 year-over-year.

Outlook and guidance

• Improved economic activity and traffic growth expected to continue supporting revenue.

• Full-year impact of new toll gates and reduced concession fee anticipated in 2025.