SALK Announces Strong Financial Results for 2024 with Notable Growth in Revenues and Profits
Dubai, United Arab Emirates – SALK, the exclusive operator of toll gates in Dubai and listed on the Dubai Financial Market, has announced its financial results for the fiscal year ending December 31, 2024. The company reported revenues of AED 2.3 billion, a 8.7% increase compared to 2023.
Growth in Profits and Operational Revenues
SALK’s financial results showed a 13.6% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), totaling AED 1.6 billion. Additionally, the total number of revenue-generating trips through SALK’s toll gates increased by 8%, reaching 498.1 million trips, driven by the operation of two new toll gates.
Increase in Net Profits
SALK’s net profit for the fiscal year 2024 reached AED 1.164 billion, representing a significant 16.6% increase compared to the previous year. The company’s pre-tax profit was AED 1.279 billion.
Cash Dividend Distribution to Shareholders
Based on these strong results, the company’s board of directors has recommended a cash dividend of AED 619.8 million to shareholders for the first half of 2025, equivalent to 8.2645 fils per share. This brings the total dividend distribution for the 2024 fiscal year to AED 1.164 billion, representing 100% of net profits for the year.
Strong Performance in Q4
The fourth quarter of 2024 saw strong performance, with the company’s revenues reaching AED 651 million, a 15.6% increase compared to the previous year, contributing to the record results.
Statements from the Chairman and CEO
Commenting on the performance, Mattar Al Tayer, Chairman of SALK, said: “We have had an outstanding financial year with notable growth in revenues and record profits. These results reflect the success of our strategy and robust business model, confirming our commitment to enhancing our position as a key partner in sustainable mobility solutions in Dubai.”
Ibrahim Sultan Al Haddad, CEO of SALK, added: “The strong performance in Q4 2024 was a key driver of these exceptional results. We remain focused on enhancing our operational processes and investing in modern infrastructure to meet the growing demand for our services.”
Sources:
- Dubai Financial Market
- SALK Press Release
- WAM News Agency (Emirates News Agency)