Press releases, Reports & Disclosures for Salik Company PJSC

Dubai's exclusive toll gate operator, Salik Company PJSC, is diversifying its revenue streams through a partnership with Emaar Malls Management LLC. The collaboration will see Salik deliver a barrier-free parking system at Dubai Mall, using automatic fee collection for ticketless parking, with fees deducted from Salik user accounts. The new system is expected to be operational by Q3 2024. Salik is also exploring options for growth in Dubai's private parking market, which boasts over 50,000 spaces. The firm's high penetration rate, with over 2 million active accounts and 4 million active vehicles, means no major customer acquisition is needed.

Salik Company P.J.S.C., the toll gate operator in Dubai, has joined the Dubai Financial Market's (DFM) Voluntary Carbon Credit Trading Pilot Program. The initiative aligns with Salik's strategy to promote sustainable practices in the UAE and supports the country's goal to achieve net-zero emissions by 2050. As part of the program, Salik purchased and retired 715 units of Carbon Retirement Rights (CRRs) for the Dubai Electricity and Water Authority (DEWA) Chiller Station L project, which aims to improve gas turbine efficiency. This move helps offset Salik's carbon emissions at various operational points. The CEO of Salik, Ibrahim Sultan Al Haddad, stressed the importance of the program in raising climate change awareness and reducing emissions.

Dubai's exclusive toll gate operator, Salik Company P.J.S.C., has signed a Memorandum of Understanding (MoU) with TAMM, Abu Dhabi's government services platform. The partnership aims to enhance services and provide digital solutions, marking a significant step for the UAE's transportation sector. As part of the agreement, Salik's solutions will be integrated into TAMM, and the 'Abu Dhabi Pay' digital payment platform will allow TAMM users to add their Salik accounts and recharge them on the platform.

Dubai-based toll gate operator, Salik Company, is expanding its partnership with Careem, a leading app in the region. The partnership will allow Salik tags to be delivered directly to customers through Careem's fast grocery service, Careem Quik. In addition, the Careem Pay feature allows customers to recharge their Salik accounts via the app. Over 300,000 customers have linked their bills to Careem Pay, enabling them to automate payments for Salik recharges and other bills. The partnership aims to improve customer experience by making Salik services more easily accessible.

On November 29, 2023, Mr. Ibrahim Sultan Al Haddad, CEO of Salik Company PJSC, sent a letter to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, informing him about a forthcoming Board of Directors meeting. The meeting is scheduled for December 7, 2023, at 8:30 am, and will discuss and approve normal business activities.

Salik, the exclusive toll gate operator in Dubai, reported its highest Q3 revenue figures since its inception in 2007, with revenues of AED 509 million and a 14.2% YoY growth. Revenue-generating trips reached approximately 110.8 million in Q3 2023, up 14.6% YoY, due to a favourable macroeconomic environment in Dubai and its appeal to tourists and new residents. Active registered accounts and vehicles increased by 13.0% and 8.8% YoY, respectively. Salik also reported a net profit of AED 255 million, a 5.3% YoY growth, and free cash flow of approximately AED 359 million. The company celebrated key operational milestones such as the inauguration of a new eco-friendly office and the one-year anniversary of its award-winning listing on the Dubai Financial Market.