NLEX Corp. said over the weekend its net income climbed 22 percent in the first nine months of 2024 on the back of strong revenues and prudent cost management resources.
The operator of North Luzon Expressway (NLEX) and Subic Clark-Tarlac Express (SCTEX) posted a net income of P8.7 billion from January to September, up from P7.07 billion in the same period last year.
The company recorded revenues amounting to P18.7 billion in the nine-month period, or 19 percent higher than in the same period in 2023 on increased traffic and toll rate adjustments implemented in June 2024.
NLEX said all vehicle classes posted a double-digit growth in revenues, with Class 1 revenues growing by 16 percent, Class 2 by 22 percent and Class 3 by 22 percent.
The average daily traffic for the NLEX concession reached 333,051 vehicle entries, or 4 percent higher than 2023 figures, while average daily traffic in SCTEX reached 78,525 vehicle entries, or 1 percent above last year’s figures.
Average daily traffic for the Connector Road is steadily increasing, with 18,893 vehicle entries per day.
The company’s total cost of services amounted to P6.59 billon in the first nine months of the year, up 19 percent from P5.53 billion in the same period last year.
NLEX spans about 105 kilometers or 598 lane-km. and services an average of 323,791 vehicles per day.
SCTEX is a 91-km. or 362 lane-km., stretching from Subic-Tipo until La Paz, Tarlac, connecting the special economic zones in Subic and Clark, Olongapo City to Tarlac City.
