SMC SLEX Inc. said over the weekend net income grew by 33 percent in 2022 from a year earlier on the back of higher vehicle traffic with the easing of mobility restriction.
The operator of South Luzon Expressway said net income reached P3.49 billion last year, up from P2.62 billion in 2021 as revenue increased 16 percent to P6.44 billion from P5.57 billion. Last year’s revenue was also 3 percent higher than the pre-pandemic figure of P4.55 billion.
SLEX achieved an annual average daily traffic of 376,267 in 2022, up by 12 percent from 335,900 in 2021. This was 3 percent higher than the pre-pandemic figure of 366,189.
Volume increased across all classes, with highest growth in Class 1 and Class 2 by 13 percent and 10 percent, respectively. Average transaction mode for the period was 73 percent for RFID and 27 percent for cash.
The company said operating expenses decreased by 16 percent from P434 million to P366 million, on lower depreciation and amortization and decline in outside services due to prior year’s recognition of additional shared services.
SMC SLEX is the concessionaire of SLEX which spans 36.1 km from Alabang, Muntinlupa to Sto. Tomas, Batangas. SLEX is one of the three major expressways that links Metro Manila to the southern provinces of CALABARZON. To the north of the SLEX is the Skyway System, and to the south is the Southern Tagalog Arterial Road.
SLEX is a key logistical backbone to the southern corridor of Metro Manila.