NLEX Corp. said Monday net income rose 21 percent last year, driven by higher toll revenues and controlled costs.
The operator of North Luzon Expressway and Subic Clark Tarlac Expressway (SCTEX) posted a net income of P12.07 billion last year, higher from P10.01 billion in 2023.
The company’s toll revenues amounted to P25.31 billion, up by 18 percent compared to the prior year due to higher traffic figures and implementation of overdue toll rate adjustments.
Its toll revenues were comprised of 78 percent from NLEX, 18 percent from SCTEX and 4 percent from Connector.
The company also generated higher revenues from toll services facilities in 2024 amounting to P150 million, higher by 35 percent compared to the P111 million recorded in 2023.
Cost of services increased to P8.42 billion, 12 percent higher than 2023 figures.
“The increase in costs was largely due to higher concession and PNCC fees which were charged as a fixed percentage of toll revenues, higher pavement repairs and maintenance costs of roads and tollways and higher amortization of concession assets due to the higher traffic,” NLEX said.
The NLEX currently spans approximately 105 kilometers or 598 lane-kms, and services an average of 350,599 vehicles per day as of end-2024.
The NLEX is the main infrastructure backbone that connects Metro Manila to central and northern Luzon. NLEX Corp has operated the NLEX since February 2005 after completing the rehabilitation of the toll road under Phase I of the NLEX Concession.
The SCTEX , on the other hand, is a 91-km or 362 lane-kms, stretching from Subic-Tipo until La Paz, Tarlac, connecting the special economic zones in Subic and Clark, Olongapo City to Tarlac City
It was completed by the Bases Conversion and Development Authority in 2008 using Official Development Assistance financing from the Japan Bank of International Cooperation.
