Metro Pacific Tollways Corp. (MPTC) reported a three-percent decline in net income for the first quarter of 2026, as higher operating costs and expenses weighed on performance despite continued revenue growth.
The company posted a consolidated net income of P2.25 billion from January to March, down from P2.32 billion in the same period last year.
Total revenues, however, rose 13 percent to P10.4 billion from P9.2 billion in the previous year, driven by higher traffic volumes across its toll road network and approved toll rate adjustments implemented during the period.
MPTC said average daily vehicle entries (ADVE) in its domestic operations reached about 730,000, up two percent from 719,000 in 2025. International traffic also grew two percent to 1.72 million from 1.68 million a year earlier.
The company attributed part of its revenue growth to the implementation of toll rate adjustments at the North Luzon Expressway (NLEX), carried out in line with concession agreements and regulatory approvals. It also cited the full-quarter impact of prior-year toll adjustments.
Non-toll revenues, which include earnings from service facilities and other businesses in water and energy, edged up two percent. The increase was mainly driven by service revenues from steel girder deliveries, which were not recorded in the same period last year, partially offset by lower electricity sales.
Cost of services rose 22 percent to P3.82 billion from P3.14 billion a year earlier, contributing to the decline in net income.
MPTC operates major expressways including NLEX, NLEX Connector Road, Manila-Cavite Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), and Cebu–Cordova Link Expressway (CCLEX), while also maintaining infrastructure investments in Indonesia and Vietnam through its regional subsidiaries.
In Indonesia, its investments include PT Nusantara Infrastructure Tbk and a stake in Jasamarga Transjawa Tol, operator of key segments of the Trans-Java Toll Road. In Vietnam, MPT Asia Corp. has investments in CII Bridges & Roads Investment Joint Stock Company, which focuses on urban road infrastructure.