Metro Pacific Tollways Corp. unit NLEX Corp. reported its net income grew 62 percent to P2.7 billion in the first half of 2021 from the P1.6 billion net income posted a year ago, due to higher revenues as traffic volume improved.
The company said its revenues, which are derived mainly from toll fees in the North Luzon Expressway (NLEX) and Subic-Clark-Tarlac Expressway (SCTEX), stood at P6.8 billion in the first semester, up by 36 percent from P5 billion in revenues recorded a year ago.
The company said traffic volume continues its upward trend since April 2020, supported by the higher toll rates implemented in November 2020 and May 2021.
As of June 30, 2021, average daily traffic for the NLEX reached 246,843 vehicle entries, while average daily traffic in SCTEX reached 54,334 vehicle entries. The company said traffic figures for NLEX and SCTEX have exceeded 2020 figures by 40 and 29 percent, respectively.
In addition to higher traffic volume, NLEX toll revenues increased as the toll rate adjustment was implemented last May in relation to the third tranche of the NLEX 2012 and 2014 petitions.
In November 2020, the company implemented the add-on toll for NLEX Harbor Link segment 10 from the Circumferential Road 3 to Radial Road 10 section and the second tranche of the NLEX 2012and 2014 petitions.
Early this month, the company completed the radio frequency identification upgrading project at the toll lane level throughout the entire NLEX and SCTEX network.
With this, the number of NLEX-SCTEX toll lanes with advanced reading feature rose to 188 as 132 antennas were realigned last year and additional 56 this year.
NLEX Corp. is also constructing the NLEX Connector Road project which is targeted to start partial operations by next year. – Myla Iglesias
