NLEX Corp. on Thursday reported net income growing 24 percent in the first nine months this year, driven by traffic recovery and increase in toll rates.
The operator of North Luzon Expressway and Subic Clark-Tarlac Expressway (SCTex) posted a net income of P7.07 billion in the January to September period, from only P5.72 billion in the same period last year.
NLEX revenue total P15.67 billion, up 20 percent from P13.1 billion in the same period last year.
It attributed the increase to higher traffic volume and the impact of NLEX toll rate adjustments implemented in June this year.
NLEX said all vehicle classifications posted double-digit revenue growth, with Class 1 revenue growing by 18 percent, Class 2 by 26 percent, and Class 3 by 18 percent.
As of end-September, the average daily traffic at NLEX show 321,384 vehicle entries, higher than 2022 figures by 15 percent. The average daily traffic at SCTEX show 77,878 daily vehicle entries or 10 percent more than last year’s figures in the same nine-month period.
Average daily traffic at Connector Road Section 1 proved close to 12,000 vehicles per day.
NLEX paid P1.39 billion as concession fee to Bases Conversion and Development Authority (BCDA), representing 50 percent of toll revenue at SCTEX.
As of the second quarter this year, concession fee revenue increased 21 percent from a year earlier, driven by higher toll revenue generated at SCTEX.
The government’s share in NLEX revenue via the Philippine National Construction Corp. amounted to P792 million.
NLEX spans 105 kilometers or 598 lane-kilometers and the main infrastructure backbone connecting Metro Manila to Central and Northern Luzon. The SCTEX is a 93.77-kilometer four-lane highway traversing the provinces of Bataan, Pampanga and Tarlac.
