NLEX Corp. said over the weekend net income fell 46 percent last year on lower traffic amid the mobility restrictions designed to contain the COVID-19 pandemic.
The operator of North Luzon Expressway and Subic-Clark Tarlac Expressway said net income amounted to P3.6 billion in 2020, down from P6.6 billion in 2019.
Consolidated total revenues declined 28 percent in 2020 to P11.1 billion from P15.37 billion in 2019.
The average daily traffic for NLEX in 2020 reached 201,790 daily entries, while daily traffic at SCTEX averaged 44,784 vehicle entries. Traffic figures for 2020 were behind 2019 figures by 25 percent and 37 percent, respectively because of the impact of the quarantine measures.
“The overall decline in traffic volume was partially offset by the full-year impact of toll rate adjustments implemented in NLEX last March 2019 and in SCTEX last June 2019,” NLEX said.
The company said it implemented another set of toll rate adjustment in NLEX in November 2020.
NLEX also generated revenues from advertising, toll services and utility facilities, rental and service income in 2020 amounting to P200.3 million, down by 36 percent from P313.4 million in 2019.
North Luzon Expressway which spans about 105 kilometers or 598 lane-kms served an average of 201,790 vehicles per day in 2020. It is the main infrastructure backbone that connects Metro Manila to Central and Northern Luzon.