SMC Tollways Corp. reported a 10 percent increase in net income for 2024, driven primarily by a rise in vehicle traffic across its toll roads. Net income climbed to P9.23 billion, up from P8.40 billion in 2023, the company said in a regulatory filing.
Revenue for the year also rose 4 percent to P21.17 billion, from P20.26 billion a year earlier. “Higher revenue was mainly due to higher traffic volume,” the company noted.
SMC Skyway Corp. registered an annual average daily traffic (AADT) of 276,850 vehicles, a 2 percent increase from the previous year. Meanwhile, SMC Skyway Stage 3 Corp. posted a 5 percent increase in traffic, with an AADT of 163,031 vehicles.
Operating expenses declined marginally by 0.02 percent to P1.11 million, attributed to lower utility costs, reduced external meetings, and decreased manpower services. These were partly offset by increased personnel costs and inflation-adjusted management fees.
Looking ahead, SMC Tollways has allocated P11.33 billion in capital expenditures for 2024 to support the expansion of its expressway network and the construction of new toll roads. A substantial portion will fund the ongoing South Luzon Expressway Toll Road 4 (TR4) project.
The 66.74-kilometer TR4 will link Sto. Tomas, Batangas to Lucena City, Quezon, and is expected to be completed by 2026. The P50-billion project is designed to cut travel time between the two cities from three hours to just 45 minutes, enhancing connectivity and commercial flow in Southern Luzon.
The toll road will be developed in six segments, traversing Batangas, Laguna, and Quezon provinces—marking a key infrastructure investment aimed at supporting regional economic growth.
