The tollway unit of San Miguel Corp. reported growing its net income by 18 percent in the first half this year on higher vehicular traffic.
SMC SLEX Inc. posted a net income of P2.37 billion in the January to June period, up from only P2 billion in the same period last year.
Toll revenue reached P3.96 billion, a 16 percent increase from P3.41 billion last year. Ninety-four percent of transactions were RFID and only six percent were in cash.
During the period, the SLEX achieved an average daily traffic (ADT) of 357,548, a 2 percent increase from 351,024 in 2023.
Its operating expenses were down 20 percent from P167.8 million to P134.9 million attributed to lower depreciation and amortization by P19.1 million, lower advertising by P16.3 million and lower repair and maintenance for transportation and office equipment by P6.3 million.
SMC SLEX earlier allotted P8.06 billion as capital expenditure (capex) this year to partially finance the TR4 project and widening of the South Luzon Expressway (SLEX).
When completed in 2026, the 66.74-kilometer toll road project will connect Sto. Tomas, Batangas to Lucena City, Quezon and significantly cut travel time from three hours to only 45 minutes.
The toll road is divided into six sections, including Sto Tomas, Batangas to Makban in Laguna (11.32 km); Makban to San Pablo City (12.75 km); San Pablo to Tiaong in Quezon (7.5 km); Tiaong to Candelaria (15 km); Candelaria to Tayabas (10.21 km); and Tayabas to Lucena (9.96 km).
SLEX spans across 36.1 kilometers from Alabang, Muntinlupa to Sto. Tomas, Batangas. It is one of the three major expressways linking Metro Manila to key southern provinces of the Philippines, including Cavite, Laguna, Batangas, Rizal and Quezon(Calabarzon).
