Salik Company (SALIK) Investor presentation summary

Business overview and strategy

• Operates as Dubai's exclusive toll gate operator with a 49-year concession, managing 10 gates and serving 4.8 million registered vehicles as of December 2025.

• Asset-light model with high EBITDA margins and strong free cash flow, supported by a robust capital structure.

• Strategic focus on thriving in tolling, ESG stewardship, sustainable growth, and future-proofing the business.

• Ancillary revenue streams include parking payment solutions, data monetization, and insurance partnerships, with geographic expansion beyond Dubai.

• Committed to sustainability, digital transformation, and best-in-class customer service, with multiple regional ESG awards.

Financial and operational highlights

• FY 2025 revenue reached AED 3,096.9 million, up 35.1% YoY, with EBITDA of AED 2,143.9 million (69.2% margin) and net profit of AED 1,553.4 million (50.2% margin).

• Total chargeable trips in FY 2025 were 639.1 million, a 33.6% increase YoY, driven by new gates and variable pricing.

• Free cash flow for FY 2025 was AED 2,079.6 million, with a margin of 67.1%.

• Net working capital at year-end was negative AED 672.8 million, reflecting advance customer charges and new gate payments.

• Dividend payout for FY 2025 totaled AED 1,661.2 million, representing 100% of net profit plus a special dividend.

Market and macroeconomic environment

• Dubai's population reached 4.0 million in August 2025, with strong growth in tourism, infrastructure investment, and airport traffic.

• Car usage dominates city transport, with toll gates strategically connecting key economic and tourist hubs.

• UAE GDP growth outlook for 2026 is 5.0%, with Dubai's GDP growing 4.7% in 2025.