Salik, Dubai’s exclusive toll gate operator, earned a net profit of Dh1.04 billion in the nine months ending September 30. This is a slight drop of 8.6 per cent from the previous year. The company announced its financial earnings on November 13. Revenue fell 6.9 per cent to Dh2,117.3 million. However on a quarter-on-quarter basis, revenue, EBITDA and net profit all improved.
Q3 revenue rose 3.2 per cent from the Q2 to Dh705.3 million. The year-on-year decline narrowed to 5.7 per cent from 11.9 per cent. EBITDA reached Dh474.0 million, up 1.2 per cent sequentially. Net profit came in at Dh341.1 million in Q3, 1.9 per cent higher.
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Traffic on roads recover
Margins too came under pressure. The Q3 EBITDA margin fell to 67.2 per cent from 69.4 per cent a year earlier. The company highlighted the incurrence of a concession fee that rose to 23.1 per cent. It also listed higher operating, maintenance and staff costs, software spending and provider commissions, all spread across a smaller revenue base.
Toll usage fees, the core earner, totalled Dh1.809 billion, down 10.1 per cent. The Q3 shortfall against last year narrowed to 7.3 per cent from 16.5 per cent. Fines added Dh220.1 million, up 6.5 per…
