Salik Company Pjsc · DFM:SALIK
Salik Company Pjsc — FY2022 Earnings Presentation
20 slides from Salik Company Pjsc's earnings presentation, Mar 7, 2023
Slide 1: FY 2022 Financial Results Presentation
FY 2022 Financial Results Presentation March 7, 2023 1
Slide 2: Disclaimer
Disclaimer No statement in this document is intended to be nor may be construed as a profit forecast. Any statements made in this document which could be classed a “forward-looking” are based upon various assumptions, including, management’s examination of historical operating trends, data contained
Slide 3: The Emirate of Dubai's exclusive toll road operator
The Emirate of Dubai’s exclusive toll road operator Operating as a standalone entity since 1st July 2022 Established in 2007 Exclusivity in Dubai 49-year concession with RTA, until 2071 Exclusive right to collect tolls from the existing 8 toll gates and from any future toll gates in Dubai Best-in-cl
Slide 4: Key Strategic Highlights
[ KEY STRATEGIC HIGHLIGHTS
Slide 5: Key strategic highlights
Key strategic highlights A landmark IPO which drew in Solid performance; revenue Total trips rose by 12% Q4 2022 traffic level broadly orders exceeding USD 50 increased 11.8% in 2022, with during 2022 to 539 million in line with pre-pandemic billion strong EBITDA and free cash from 481 million in 20
Slide 6: Key financial highlights
Key financial highlights1 Revenue-generating Trips Per Day Revenue EBITDA2 Net Profit 2022 +12.6% YoY +11.8% YoY Margin: 76.1% Margin: 70.1% H2 20223 +6.7% YoY +5.2% YoY Margin: 67.5% Margin: 55.8% Q4 2022 +14.8% QoQ +12.7% QoQ Margin: 69.5% Margin: 57.2% +4.1% YoY +2.0% YoY 1. Comparing Salik’s pro
Slide 7: Dubai macroeconomic conditions conducive for Salik's future growth
Dubai macroeconomic conditions conducive for Salik’s future growth Dubai - the No.1 global destination • Dubai's overnight visitors rose 97% YoY to 14.36 million in 2022, supporting its goal to double its economy by 2033. • Dubai was ranked No.1 in the Tripadvisor Travellers' Choice Awards 2023 for
Slide 8: Key Operational Highlights
KEY OPERATIONAL HIGHLIGHTS
Slide 9: Macro tailwinds drive strong growth in toll road usage in 2022
Macro tailwinds drive strong growth in toll road usage in 2022 2022 +12% +13% +13% 570.8 539.1 481.2 Million 441.0 419.0 434.7 412.9 370.0 366.6 Total trips Net toll traffic Revenue-generating trips 2019 2021 2022 -1% Q4 2022 +4% -1% -1% +5% +4% 146.3 144.2 Million 138.2 113.2 107.1 112.4 111.8 106.
Slide 10: Total trips by toll gate – FY 2022
Total trips by toll gate – FY 2022 +12.0% YoY Total trip contribution FY 2022 +6% +10% Al Barsha 20.0% +8% +5% +19% YoY YoY YoY +14% +17% YoY YoY +16% YoY YoY Al Safa 19.1% YoY Million Al Garhoud Bridge 14.5% Al Mamzar North 13.3% Al Mamzar South 12.2% Al Maktoum Bridge 9.2% Jebel Ali 7.0% Airport T
Slide 11: Total trips by toll gate – Q4 2022
Total trips by toll gate – Q4 2022 +12.7% QoQ Total trip contribution Q4 2022 +13% +19% +7% +6% +7% +13% +20% +14% QoQ QoQ QoQ QoQ QoQ QoQ Al Barsha 20.4% QoQ QoQ Million Al Safa 19.2% Al Garhoud Bridge 14.7% Al Mamzar North 13.0% +4.4% YoY Al Mamzar South 12.0% +5% +8% - +5% +5% +3% +7% Al Maktoum
Slide 12: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Why Salik
Slide 13: Rise in toll road usage drives strong revenue growth
Rise in toll road usage drives strong revenue growth +11.8% +5.2% +2.0% YoY YoY YoY 1,892 +12.7% 947 QoQ 39 1,693 900 492 502 20 202 42 15 445 10 AED Million AED Million AED Million 26 10 48 1,652 97 50 184 49 444 426 386 1,467 96 830 778 2021 2022 H2 2021 H2 2022 Q4 2021 Q3 2022 Q4 2022 Toll usage
Slide 14: EBITDA margin of 67.5% reflective of the concession's attractive framework
EBITDA margin of 67.5% reflective of the concession’s attractive framework and Salik’s streamlined business model EBITDA & EBITDA MARGIN Margin Salik was carved out in June and concession started on 1 July 2022 65.4% 69.5% 83.2% 67.5% +19.8% 749 H2 H2 640 AED million Change 2021 2022 349 291 Corpora
Slide 15: Revenue to net profit bridge
Revenue to net profit bridge H2 2022 AED Million - 281 15
Slide 16: Strong cash generation underpinned by positive working capital dynamics
Strong cash generation underpinned by positive working capital dynamics H2 2022 67.5% 72.6% AED Million - - 281 281 Margin * Changes in working capital as per the cash flow statement 16 ** Free cash flow in H2 2022 excludes one-time upfront concession fee payment of AED 4.0 billion made in Q3 2022.
Slide 17: Strong cash flows and healthy balance sheet support 100% payout
Strong cash flows and healthy balance sheet support 100% payout Sources vs. Uses - 2022 Capital, 221 Finance cost paid, net, 70 Total borrowings Cash & cash equivalents As of Dec 31, 2022 As of Dec 31, 2022 FCF, 1,513 Net distributions to parent*, 827 AED Million - 281 Net debt Net debt-to-H2 EBITDA
Slide 18: Investment Highlights
INVESTMENT HIGHLIGHTS Why Salik
Slide 19: Salik: The Gateway to Opportunities
Salik: The Gateway to Opportunities Exclusive Toll Operator for Dubai’s Strong Macro Growth Tailwinds from Custom-Built Technology Road Network in a City Where Car Use Dubai’s Ambitious Expansion Plans Underpinning Efficient and Seamless is Dominant Operations Positioned to Benefit from Additional F
Slide 20: Thank You
THANK YOU For enquiries, please contact Investor Relations: Mohamed Zein Head of Investor Relations E: Mohamed.Zeinelabedin@salik.ae