SMC SLEX Inc., formerly South Luzon Tollway Corp., reported its net income grew by 21 percent to P3.01 billion in the first nine months of the year, from P2.49 billion in the same period last year.
The company said its operating income also increased by 13 percent to P3.55 billion for the period from P3.14 billion the prior year, mainly driven by higher toll revenues in the nine months.
For the nine-month period, toll revenue amounted to P5.16 billion, 9 percent higher than the P4.73 billion revenue generated a year ago, despite the decline in average daily traffic, the company said.
“The reduction in traffic count under the Seamless project has no impact on the toll revenue,” SMC SLEX added.
For the quarter that ended September 30, South Luzon Expressway posted an average daily traffic of 351,274, lower by 6 percent from the 372,471 average daily traffic in 2022.
The company attributed this to the impact of the seamless project which removed the TR3 toll plaza, which had an open system with a separate traffic count.
Vehicles are now counted at their respective exits at the toll plazas in Calamba and Batangas, reducing the total average daily passenger count.
The average transaction mix for the period was 78 percent for RFID and 22 percent for cash, SMC SLEX said.
The company reported a 3 percent decline in operating expenses, from P276.9 million to P267.8 million, due to lower taxes and licenses. – Myla Iglesias
