NLEX Corp., the operator of North Luzon Expressway (NLEX) and Subic Clark-Tarlac Express (SCTEX), reported a significant 22% increase in net income for the first nine months of 2024, driven by strong revenues and prudent cost management.
NLEX Corp. announced on the weekend that its net income surged by 22 percent in the first nine months of 2024, driven by robust revenues and effective cost management . The operator of North Luzon Expressway (NLEX) and Subic Clark-Tarlac Express ( SCTEX ) reported a net income of P8.7 billion from January to September, up from P7.07 billion during the same period last year. The company achieved revenues of P18.
7 billion in the nine-month period, a 19 percent increase compared to the same period in 2023, attributed to higher traffic volume and toll rate adjustments implemented in June 2024. NLEX stated that all vehicle classes experienced double-digit revenue growth, with Class 1 revenues rising 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, a 4 percent increase compared to 2023 figures, while average daily traffic on SCTEX reached 78,525 vehicle entries, 1 percent above last year’s figures. Average daily traffic for the Connector Road is steadily climbing, with 18,893 vehicle entries per day. The company’s total cost of services amounted to P6.59 billion in the first nine months of the year, a 19 percent increase from P5.53 billion in the same period last year.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
NLEX Corp. Net Income Revenue Growth Traffic Increase Toll Rate Adjustments SCTEX Connector Road Cost Management
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