SMC SLEX Inc. reported net income growing 33 percent last year on the back of higher vehicle traffic.
The operator of South Luzon Expressway said its net income amounted to P3.49 billion last year from only P2.62 billion in 2021.
Toll revenue amounted to P6.44 billion, an increase of 16 percent from P5.57 billion 2021. This was also 3 percent above the pre-pandemic revenue of P4.555 billion.
For the full year, SLEX achieved an annual average daily traffic (AADT) of 376,267 higher by 12 percent from 2021 AADT of 335,900.
This was 3 percent higher than the pre-pandemic figure of 366,189, brought about by the increase in traffic flow with the easing of mobility restrictions to Alert Level 1 beginning March 1, 2022.
Volume increased across all classes with highest increase in class 1 and 2 by 13 percent and 10 percent, respectively.
Average transaction mode for the period was 73 percent for RFID and 27 percent for cash.
The company’s operating expenses decreased by 16 percent from P434 million to P366 million, mainly due to taxes and licenses by P32 million, higher repair and maintenance-others by P23 million and higher other operating expenses by P14 million offset by lower depreciation and amortization by P28 million and lower outside services by P109 million due to prior year’s recognition of additional shared services.
SMC SLEX is the concessionaire of the SLEX which spans 36.1 km from Alabang, Muntinlupa to Sto. Tomas, Batangas.
The SLEX is one of three major expressways that link Metro Manila to the southern provinces of the Philippines, including CALABARZON. To the north of SLEX is the Skyway System, and to the south is the Southern Tagalog Arterial Road (STAR).
SLEX connects with Skyway System and STAR and is a key logistical backbone to the southern corridor of Metro Manila.
