Salik Company Pjsc · DFM:SALIK
Salik Company Pjsc — 9M 2025 Earnings Presentation
28 slides from Salik Company Pjsc's earnings presentation, November 2025
Slide 1: 9M 2025 Financial Results Presentation
9M 2025 Financial Results Presentation November 2025
Slide 2: Disclaimer
Disclaimer No statement in document is intended to be nor may be construed as a profit forecast. Any statements made in this document which could be classed as "forward-looking" are based upon various assumptions, including management’s examination of historical operating trends, data contained in t
Slide 3: Key Strategic Highlights
KEY STRATEGIC HIGHLIGHTS Why Salik
Slide 4: The Emirate of Dubai's exclusive toll gate operator
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS The Emirate of Dubai’s exclusive toll gate operator Toll Usage Fees 88.4% 18+ YEARS 100% c. 4.7 MN # OF REGISTERED ACTIVE Core Tolling Fines OPERATIONS SINCE 2007 EXCLUSIVITY IN and as a standalone entity since DUBA
Slide 5: Macroeconomic outlook supports Salik's growth
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Macroeconomic outlook supports Salik’s growth 395.0 million 79% 1.3 million Public transport riders in H1 Hotel occupancy rate over Jan- DEWA Customer accounts, with 2025, up 9% YoY Sep 2025 up 3% year-on-year a 5%
Slide 6: Salik's strategic evolution to becoming a global leader
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Salik’s strategic evolution to becoming a global leader Salik aspires to Salik’s strategy is focused on 4 key strategic pillars become a global leader in providing sustainable and smart mobility PILLAR 1 PILLAR 2 PI
Slide 7: Consistent strategic progress since listing
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Consistent strategic progress since listing 2022 2023 2024 2025 Carve Out & Concession EMEA Finance Best Dubai Mall Partnership Variable Pricing Agreement IPO in the Middle East Introduced for 2022 Business Bay Cros
Slide 8: Financial and operational highlights in 9M 2025 and Q3 2025
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Financial and operational highlights in 9M 2025 and Q3 2025 FINANCIAL OPERATIONAL HIGHLIGHTS HIGHLIGHTS 9M 2025 Q3 2025 Implementation of variable pricing model in January 2025, with Q3 2025 marking the TOTAL CHARGE
Slide 9: Key Operational Highlights
KEY OPERATIONAL HIGHLIGHTS 9
Slide 10: Continued growth in Salik's core tolling business
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Continued growth in Salik’s core tolling business Total Trips (mn) Total Chargeable Trips (mn)1,2 Peak +35.6% -5.1% YoY QoQ -4.3% Off Peak QoQ 160.4 152.2 Past 16.4 16.0 213.4 204.2 Midnight 150.5 86.3 80.9 57.7 55.
Slide 11: Evolution of quarterly trips by gate
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Evolution of quarterly trips by gate Quarterly Total Trips (mn) Quarterly Total Trips by Gate (mn) Q3 2022 Q3 2023 Q3 2024 Q3 2025 35.6% YoY 32.8 204.2 28.2 28.0 27.7 27.6 26.8 26.3 25.3 24.5 7.0 7.6 7.6 24.2 6.1 22
Slide 12: Variable pricing supporting annual revenue growth
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Variable pricing supporting annual revenue growth Timing Traffic Distribution in FY24 Variable Pricing Based on Fixed Pricing (4 Dirhams) 52% 55% 54% 54% 54% 52% 54% 53% 49% 40% 39% 37% 35% 36% 36% 36% 36% 36% 10% 1
Slide 13: Providing seamless parking solutions through key partnerships
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Providing seamless parking solutions through key partnerships Medium and long-term revenue expectations Barrier-free parking 2026 payment solution AED 8.1 mn 100% 4-5% operational since July 1, Revenue generated Sea
Slide 14: Motor insurance partnership & new customised tags initiative
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS OUTLOOK HIGHLIGHTS Motor insurance partnership & new customised tags initiative Leveraging Salik’s comprehensive database by sending timely reminders Medium and long-term revenue for motor insurance renewal, redirecting customers to L
Slide 15: Key Financial Highlights
Why Salik KEY FINANCIAL HIGHLIGHTS
Slide 16: Robust growth across key financial metrics
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Robust growth across key financial metrics Revenue Total Chargeable Trips (mn) 1,2 +38.6% YoY Peak -5.1% 2,275.0 QoQ AED Million +36.9% Off Peak 160.4 152.2 YoY 1,640.9 16.4 16 Past 747.7 Midnight 86.3 80.9 546.1 57
Slide 17: Streamlined business model
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Streamlined business model Depreciation, Amortization Total Revenue - Operating Costs = EBITDA - & Net Finance Costs = PBT - Income Tax = Net Profit % 88.4% 9.1% 2.5% 69.6% 55.2% 50.3% of total revenue 56.1 206.7 (4
Slide 18: Growth in mobility continues to drive strong revenue momentum
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Growth in mobility continues to drive strong revenue momentum +38.6% YoY +36.9% YoY 2,275.0 56.1 206.7 -3.6% QoQ 1,640.9 AED Million 43.9 174.8 2,012.1 751.6 775.7 747.7 651.0 18.5 20.1 546.1 68.4 17.5 65.9 72.4 142
Slide 19: Growing quarterly revenue from toll usage fees
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Growing quarterly revenue from toll usage fees +39.9% YoY 691.3 665.6 655.2 570.2 AED Million 492.9 491.1 454.2 455.3 462.7 468.4 443.7 443.1 426.2 421.1 400.2 386.5 351.7 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q
Slide 20: Strong profitability in 9M 2025, with EBITDA up 42.0%
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Strong profitability in 9M 2025, with EBITDA up 42.0% and a margin of 69.6% EBITDA Evolution (AED million) EBITDA (AED million) Margins since 2023 reflect 81.9% 76.1% 65.9% 68.9% Salik’s new cost profile as a 68.0%
Slide 21: 9M 2025 net profit up 39.1% YoY with a strong 50.3% margin
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK 9M 2025 net profit up 39.1% YoY with a strong 50.3% margin (55.2% before tax) Net Profit Evolution (AED million) Net Profit (AED million) 55.0% Net Profit margin before tax 55.2% Margin Margins since 2023 reflect 81
Slide 22: Solid cash generation, positive working capital dynamics
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Solid cash generation, positive working capital dynamics Free cash flow evolution (AED million) Free cash flow bridge 9M 2025 (AED million) 72.8% 79.9% 68.7% 63.6% 69.6% Margin 64.7% +0.5% YoY 64.3% 64.7% 1,583.7 4.
Slide 23: Healthy balance sheet with conservative leverage of 2.61x EBITDA
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS OUTLOOK Healthy balance sheet with conservative leverage of 2.61x EBITDA Total Borrowings2 (AED, mn) Net Debt < 5x Covenant Strong credit ratings 2,015.9 6,010.3 3,994.4 A3 AED 5.3 bn First-time Long-Term Issuer Default LT
Slide 24: Outlook
OUTLOOK ef eu Salik
Slide 25: Guidance for FY 2025 and FY 2026
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL OUTLOOK HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS Guidance for FY 2025 and FY 2026 FY2025 guidance unchanged from H1, reflecting contribution from two new gates introduced in 2024 and variable pricing. FY2026 guidance introduced, reflecting continued traffic driven
Slide 26: Guidance: Medium and long-term expectations for ancillary revenues
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL OUTLOOK HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS Guidance: Medium and long-term expectations for ancillary revenues Medium to Long-Term Expectation: 2026-2030 Key Assumptions 2026 2030 Dubai Mall Parking Generated AED 8.1m during the first 9 months in 2025 and con
Slide 27: Concluding remarks – continued growth momentum in 9M 2025
KEY STRATEGIC KEY OPERATIONAL KEY FINANCIAL OUTLOOK HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS Concluding remarks – continued growth momentum in 9M 2025 Sole Toll Gate Powered by Dubai’s Sustained Earnings Record Growth in Traffic FY25 on Track; Positive Operator in Dubai Expansion Growth and Toll Revenues FY
Slide 28: Thank You
THANK YOU For enquiries, please contact Investor Relations: Wassim El Hayek Head of Investor Relations E: wassim.elhayek@salik.ae