NLEX Corp. said over the weekend its net income grew 24 percent in the first half of 2024 on the back of stronger revenues and prudent cost management measures.
The operator of North Luzon Expressway (NLEX) and Subic-Clark-Tarlac Expressway reported a net income of P5.6 billion from January to June, higher than P4.51 billion in the same period last year.
NLEX recorded revenues amounting to P12.4 billion in the six-month period, up by 20 percent from the same period in 2023 due to increase in traffic, toll rate adjustments and the added revenue stream from the newly-opened NLEX-SLEX Connector Road.
Operating revenues, mainly from toll collected in NLEX, SCTEX and the NLEX- SLEX Connector Road, accounted for 99 percent of total revenues in the first half of the year.
All vehicle classes registered double-digit growth, with Class 1 revenues rising 18 percent, Class 2 by 23 percent and Class 3 by 21 percent.
Average daily traffic along NLEX reached 336,993 daily vehicle entries as of June 30, 2024, higher than the 2023 figure by 4 percent, while the average daily traffic on SCTEX reached 81,618 daily vehicle entries, a 1-percent increase over last year’s figure.
Non-toll revenues, consisting of fees collected from toll service facilities and utility companies using NLEX right of way, accounted for 1 percent of the total revenues in the period.
Total cost of services amounted to P4.5 billion, higher by 19 percent than P3.8 billion recorded a year ago.
NLEX spans about 105 kilometer or 598 lane-kms, and services an average of 323,791 vehicles per day as of end-2023. The SCTEX is a 91-km or 362 lane-kms,, stretching from Subic-Tipo to La Paz, Tarlac.
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