Salik Reports FY 2025 Revenue of AED 3.10 Billion, Up 35.1% YoY

Salik Company PJSC (“Salik” or the “Company”), Dubai’s exclusive toll gate operator, today announced its financial results for the three-month and year-ended December 31, 2025 (“Q4 2025” and “FY 2025”). Total revenue for FY 2025 increased 35.1% year-on-year (“YoY”) to AED 3,096.9 million, supported by a 26.3% YoY increase in Q4 2025 revenue. EBITDA increased by 35.8% in FY 2025, to AED 2,143.9 million, delivering a favorable margin of 69.2%. Salik’s robust FY 2025 performance reflects the full-year contribution of the two new toll gates launched in November 2024, the effective rollout of variable pricing in late January 2025, and continued support from Dubai’s favorable macroeconomic environment. Within Salik’s core tolling business, total chargeable trips reached 639.1 million in FY 2025, of which 168.6 million were completed in Q4 2025.

His Excellency Mattar Al Tayer, Chairman of the Board of Directors of Salik, commented:
“FY 2025 was a year in which Salik went above and beyond in delivering against its strategic priorities, achieving meaningful strategic progress alongside a strong set of financial results, reflecting the resilience of our business model and our ability to deliver sustainable growth, driven by high operational efficiency and a clear strategic vision.

He said: We generated a 35.1% increase in revenue, driven by the successful introduction of two new toll gates, the effective implementation of variable pricing, and continued growth in total chargeable trips across our network. This performance underscores the effectiveness of our strategy in maximizing returns, enhancing operational efficiency and strengthening shareholder value, while highlighting the sustained positive momentum across all areas of our business.

His Excellency added: The growth in chargeable trips during 2025 also reflects Dubai’s continued economic expansion, alongside increasing population, commercial activity, and tourism. Salik continues to play a key role within the smart mobility ecosystem through a flexible and scalable operating model that supports the Emirate’s long-term plans.

He added: We continued to advance Salik’s long-term strategy by expanding ancillary revenue streams through new partnerships, reflecting the strength of our platform and the value Salik’s solutions provide to the business models of our strategic and expansion-focused partners. At the same time, we remained focused on strengthening our balance sheet and maintaining a disciplined approach to capital allocation and our dividend policy. Throughout FY 2025, we have also made tangible progress against our ESG agenda, reinforcing Salik’s role in enabling sustainable and smart mobility solutions aligned with Dubai’s long-term vision.

Al Tayer reaffirmed Salik’s commitment to driving continued innovation and strengthening operational efficiency, further reinforcing its position as a Company delivering strong financial performance and sustainable value to its shareholders, in alignment with Dubai’s ambition to become a global hub for an advanced economy and smart infrastructure.”

Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, commented:
“Salik delivered a robust set of results in FY 2025, once again demonstrating the strength of its operating model and its ongoing progress in delivering on its strategic ambitions. Total trips rose by 33.6% YoY, while toll revenues increased by 37.3%, reflecting the commissioning of two additional toll gates and the sustained benefit of the variable pricing framework. The core tolling platform continues to deliver strong performance, alongside disciplined expansion of ancillary revenues driven by the scaling of Salik’s E-Wallet and digital mobility partnerships, including the collaborations with Emaar Malls, Parkonic and Liva. Looking ahead to 2026, we’re carrying this momentum forward, highlighted by our recent 10-year agreement with Dubai Airports, which will further solidify our role in Dubai’s future mobility infrastructure. Additionally, Salik is advancing next-generation EV charging through partnerships with Schneider Electric and Vcharge, as well as seamless fuel and services payments through a partnership with ENOC. These initiatives strengthen Salik’s integrated mobility ecosystem and support sustainable, long-term growth.”

He added: We remain optimistic about Dubai’s macroeconomic outlook, underpinned by continued population growth and resilient tourism, which we believe will continue to support the strong performance of the business. With solid operating momentum, robust cash generation and a well-capitalised balance sheet, we are confident in our ability to deliver sustainable growth and long-term shareholder value as we expand our business and innovate across the mobility ecosystem and adjacent services.”
The total number of trips, including discounted trips, made through Salik’s toll gates grew 33.6% YoY in FY 2025 to record 852.7 million trips, driven by a 22.0% YoY growth in trips in Q4 2025 reaching 224.3 million. The increase was underpinned by the yearly contribution from the two toll gates commissioned in November 2024, supported by a resilient economic backdrop, robust visitor demand, and ongoing demographic expansion in Dubai.

• Total chargeable trips reached 168.6 million in Q4 2025, following 152.2 million in Q3 2025. Chargeable trips during the peak period (AED 6) totaled 59.9 million, with trips in the off-peak period (AED 4) reaching 91.1 million. Q4 2025 represented eleven months since the implementation of the new variable pricing system.
• Toll usage fees: performance was strong in FY 2025, increasing 37.3% YoY to AED 2,736.1 million, including a 27.0% YoY increase in Q4 2025 to AED 724.0 million. Toll revenue growth was largely attributable to the benefit of the variable pricing mechanism implemented in late January 2025, together with incremental volumes from the two newly operational gates.

• Fines: revenue from fines reached AED 280.6 million in FY 2025, contributing 9.1% to total revenue compared to 10.3% in 2024.

• Tag activation fees: increased 14.8% YoY in FY 2025 reaching AED 46.9 million, supported by an 8.7% YoY increase in registered active vehicles. Tag activation fees contributed 1.5% of total revenue in Q4 2025.

• Total ancillary revenue: reached AED 24.0 million during FY 2025 driven by revenues from Parking Payment Solutions partnerships with Emaar Malls and Parkonic, exhibiting a significant increase of more than 300% in comparison to FY 2024.

Furthermore, the company’s partnership with Liva Group has continued to gain momentum during FY 2025.

Salik generated EBITDA of AED 2,143.9 million in FY 2025, up 35.8% YoY, with Q4 2025 EBITDA increasing by 20.7% YoY to reach AED 560.2 million. EBITDA margin stood at 69.2% in FY 2025, a 33 bps YoY increase compared to 68.9% in FY 2024. EBITDA margin was reported at 68.2% in Q4 2025, compared to 71.3% in Q4 2024.

Salik’s net profit before taxes totaled AED 1,707.0 million in FY 2025, up 33.4% YoY. Net profit before taxes reached AED 450.1 million in Q4 2025, a 19.6% YoY increase despite lower financing income and higher finance costs in the period.

Salik generated net profit after taxes of AED 1,553.4 million in FY 2025, up 33.4% YoY. Net profit after taxes reached AED 409.6 million in Q4 2025, a 19.6% YoY increase. Net profit margin was reported at 50.2% in FY 2025 compared to 50.8% in FY 2024.

In light of the strong FY 2025 performance, the Board of Directors has proposed a total dividend of AED 890.3 million to be paid during H1 2026 (equivalent to 11.8712 fils per share). This comprises a cash dividend of AED 782.5 million, representing a 100% payout of H2 2025 net profit (a 33.4% YoY increase compared to cash dividends declared for FY 2024), as well as a proposed special dividend of AED 107.8 million which represents the portion of retained earnings equivalent to the implied finance costs for FY 2024 and FY 2025 (net of tax) recorded on debt with the RTA.