The operator of North Luzon Expressway and Subic-Clark-Tarlac Expressway said it expects toll revenues to double by 2022, boosted by existing and new tollway projects.
NLEX Corp. said toll revenues would likely reach P24.1 billion by 2022, up from only P11.7 billion this year.
The company’s core net income is expected to grow to P9.68 billion by 2022 from P4.7 billion this year.
“The driver would be the growth of the existent assets and eventually we will have new projects that would be completed in the next five years,” Rodrigo Franco, president and chief executive of NLEX and Metro Pacific Tollways Corp. said.
The company is investing P29.43 billion in new projects between 2018 and 2020.
These projects are NLEX Segment 10 which is projected to be operational by first half of 2018; Segment 10 from C3 to R10 section to be completed by first quarter of 2019; and the expansion of Subic Freeport Expressway to be finished by first quarter of 2019.
The NLEX-SLEX Connector Road is expected to be completed by the first quarter of 2021.
NLEX earlier reported a net profit of P2.3 billion in January to June, up from last year’s P2 billion.
Toll revenues rose 8 percent in the first half to P5.7 billion from a year ago, on increasing traffic at both NLEX and SCTEX.
The average daily traffic along NLEX reached 233,652 daily entries in the first half, or 7 percent higher than the same period last year, while average daily traffic along SCTEX increased 24 percent to 54,991 daily entries.
Non-toll revenues amounted to P83 million, up from P73 million a year ago, because of an increase in royalty fees, utility facility fees and other non-toll initiatives.
NLEX submitted unsolicited proposals worth P122.43 billion to build two major expressway projects in Manila.