NLEX Corp., the operator of the North Luzon Expressway (NLEX) and Subic-Clark-Tarlac Expressway (SCTEX), posted a 22 percent increase in net income for the first nine months of 2024, fueled by strong revenue growth and effective cost management.
The company reported a net income of P8.7 billion for the January to September period, up from P7.07 billion in the same period last year. Total revenue reached P18.7 billion, a 19 percent year-on-year increase, driven by higher traffic volume and toll rate adjustments implemented in June 2024.
NLEX Corp. saw double-digit revenue growth across all vehicle classes. Class 1 vehicles, which include cars and motorcycles, posted a 16 percent increase in revenue, while Class 2 (light trucks) and Class 3 (heavy trucks) saw a 22 percent jump each.
The company also reported strong traffic growth. The average daily traffic at NLEX reached 333,051 vehicle entries, a 4 percent increase over 2023. Meanwhile, SCTEX recorded an average of 78,525 vehicle entries per day, up 1 percent year-on-year. The Connector Road, a key segment of the NLEX network, also showed steady growth, with 18,893 vehicle entries per day.
Despite a 19 percent rise in the company’s total cost of services, which amounted to P6.59 billion in the first nine months of the year (up from P5.53 billion in 2023), NLEX Corp. maintained strong profitability, reflecting its focus on operational efficiency.
The company’s expanding network includes 105 kilometers of NLEX, comprising 598 lane-kilometers, and 91 kilometers of SCTEX, with 362 lane-kilometers. The combined network serves an average of 323,791 vehicles per dayas of the end of 2023, making it a critical transport link connecting key regions in northern and central Luzon.
As NLEX Corp. continues to expand and modernize its infrastructure, the company remains poised for further growth in both revenue and traffic in the coming months.
