Lower toll usage in March put pressure on revenue, even as profit margins remained stable.
Salik Company PJSC reported revenue of Dh728.9 million in the first quarter of 2026, marking a 3% year-on-year decline, as lower toll usage and softer traffic trends in March weighed on overall performance.
Salik Company PJSC said the decline in performance was linked to what it described as an “exceptional event” that affected traffic movement during the quarter, referring to ongoing regional tensions involving the US, Israel, and Iran. The impact was partly offset by higher tag activation fees and other revenue streams.
The company also reported that total trips across Dubai’s toll gates fell 6.4% year-on-year to 197.2 million, while chargeable trips declined 7.7% to 145.7 million during the quarter.
Despite lower traffic volumes, Salik Company PJSC reported a broadly stable net profit of Dh369.3 million compared to the same period last year. EBITDA margin also improved slightly to 69.6%, up from 69.1% a year earlier.
The company’s active registered accounts increased by 7.5% year-on-year, reaching 2.8 million accounts.
Salik Company PJSC Chairman of the Board, Mattar Al Tayer, said the Q1 2026 results demonstrate the company’s resilience despite a challenging operating environment. He noted that Salik achieved strong financial performance, with net profit reaching Dh369.3 million and a healthy net profit margin of 50.7%.
He added that revenue from toll usage fees declined 6% year-on-year to Dh625.5 million, mainly due to softer traffic conditions. However, the impact was partly offset by Dubai’s variable toll pricing system introduced in January 2025, which adjusts charges based on peak and off-peak hours.
Under this model, peak-hour trips rose 36.6% year-on-year to 53.7 million, while off-peak trips fell 29.4% during the quarter.
Salik Company PJSC reported strong growth in its ancillary revenue streams during the quarter, with income from parking payment solutions, digital wallet services, and partnerships rising 147% year-on-year to Dh8 million.
The company expanded its digital payment ecosystem across Dubai Airports through an existing partnership, integrating its e-wallet services into parking systems at Terminals 1, 2, and 3, as well as the Cargo Mega Terminal.
Salik also announced a new collaboration with Valtrans to roll out digital valet parking payments across more than 100 locations in the UAE starting June 2026, further strengthening its non-toll digital services portfolio.
Salik Company PJSC Chief Executive Ibrahim Sultan Al Haddad said that despite a slowdown in traffic volumes since early March, the business continued to show strong underlying profitability, solid cash generation, and disciplined financial performance.
Salik Company PJSC generated free cash flow of Dh636.5 million in the quarter, reflecting a 1.6% year-on-year increase, while net debt declined by nearly 12% compared to the previous quarter.
The company said it will continue expanding into broader mobility services, including electric vehicle charging partnerships with Schneider Electric and Vcharge, along with fuel payment trials in collaboration with ENOC.
Salik Company PJSC further expanded its ancillary revenue stream in 2025 through a five-year partnership with Parkonic, integrating its advanced e-wallet system across Parkonic’s nationwide portfolio. The solution is now active at more than 150 of over 200 locations.
The company said the rapid increase in coverage reflects the strong performance of the partnership, which has recorded significant revenue growth, highlighting continued momentum in its digital mobility and payments strategy.
