NLEX Corp. reported net income rising 24 percent in the first half of 2024 on the back of stronger revenue and prudent cost management measures.
The operator of the North Luzon Expressway (NLEX) and Subic Clark-Tarlac Expressway reported net income of P5.6 billion, higher than only P4.51 billion in the same period last year.
NLEX reported revenue amounting to P12.4 billion in the six-month period, 20 percent higher than the year ago period in 2023 due to increased traffic, toll rate adjustments, and added revenue from the newly-opened NLEX-SLEX Connector Road.
The company’s operating revenue arose mainly from toll collected at NLEX, SCTEX, and the NLEX- SLEX Connector Road that, on the aggregate, accounted for 99 percent of total revenue in the first half of the year.
All vehicle classes posted double digit growth with Class 1 revenue growing18 percent, Class 2 by 23 percent, and Class 3 by 21 percent.
As of 30 June 2024, the average daily traffic at NLEX reached 336,993 daily, higher than 2023 figures by 4 percent, while the average daily traffic at SCTEX reached 81,618 daily or 1 percent above last year’s numbers.
Non-toll revenue, which consists of fees collected from toll facilities as well as utility companies using NLEX right of way, accounted for 1 percent of the total revenue for the period.
For the six-month period, the total cost of services amounted to P4.5 billion, higher by 19 percent versus only P3.8 billion during the same period last year.
The NLEX spans over 105 kilometers of toll roads and services an average of 323,791 vehicles a day as of end-2023.
The SCTEX, on the other hand, is a 91-kilometer tollway stretching from Subic-Tipo to La Paz, Tarlac, connecting the special economic zones from Subic and Clark in Olongapo City to Tarlac City.
