The operator of South Luzon Expressway (SLEX) saw its net income jump by 41 percent to P2.49 billion from January to September on the back of higher vehicle traffic.
SMC-SLEX said revenue grew 19 percent to P4.7 billion. This was also a little higher than pre-COVID level of P4.68 billion due to the continued easing of movement restrictions.
Annual average daily traffic rose by 16 percent to 372,471 while vehicle volume increased across all classes with the highest increase in class 1 and 2 by 17 percent and 11 percent, respectively.
The average transaction mode for the period was 80 percent for RFID and 20 percent for cash.
SMC SLEX has earmarked P14.19 billion for its capital expenditures this year, largely to fund Toll Road 4 projects and other enhancement and expansion projects which include preventive replacement of equipment to ensure that the toll collection system, traffic control and surveillance system and other critical systems of tollway operation are in good working condition.
The 66.74-kilometer SLEX TR 4 , estimated to cost P26.1 billion, will connect Sto. Tomas, Batangas to Lucena City, Quezon. It is also seen to shorten the travel time from Sto. Tomas, Batangas to Barangay Mayao in Lucena City from the usual three hours to just 45 minutes. It is expected to be completed by 2026.