The tollway unit of San Miguel Corp. said net income grew 18 percent in the first half of the year mostly because of higher vehicle traffic.
SMC SLEX Inc. posted a net income of P2.37 billion in the January to June period, up from P2 billion in the same period last year.
The company’s toll revenue reached P3.96 billion, a 16 percent increase from P3.41 billon last year. The average transaction mode for the period was 94 percent for RFID and 6 percent for cash.
For the six months, SLEX achieved an average daily traffic (ADT) of 357,548, a 2 percent increase from 351,024 in 2023.
The toll operator’s operating expenses went down by 20 percent from P167.8 million to P134.9 million due to lower depreciation and amortization by P19.1 million, lower advertising by P16.3 million and lower repair and maintenance for transportation and office equipment by P6.3 million.
SMC SLEX earlier allotted P8.06 billion in capital expenditure (capex) for 2024 to partially finance the TR4 project and widening of the existing South Luzon Expressway (SLEX).
Upon completion in 2026, the P50 billion project 66.74-kilometer toll road will connect Sto. Tomas, Batangas to Lucena City, Quezon, aims to significantly reduce travel time between these two points, from 3 hours to just 45 minutes.
The toll road will be divided into six sections, including Sto Tomas, Batangas to Makban in Laguna (11.32 km); Makban to San Pablo City (12.75 km); San Pablo to Tiaong in Quezon (7.5 km); Tiaong to Candelaria (15 km); Candelaria to Tayabas (10.21 km); and Tayabas to Lucena (9.96 km).
SLEX currently spans 36.1 km from Alabang, Muntinlupa to Sto. Tomas, Batangas. It is one of the three major expressways that link Metro Manila to the key southern provinces of the Philippines, including Cavite, Laguna, Batangas, Rizal and Quezon(Calabarzon).
