NLEX Corp. posted a modest 2% growth in net income for the first half of 2026, reaching P7.46 billion compared to P7.33 billion in the same period last year. Higher toll revenues helped offset a dip in overall traffic and surging operational expenses triggered by an ongoing fuel price crisis.
Total toll revenues grew 7% to P 15.77 billion, primarily driven by toll rate adjustments implemented along the North Luzon Expressway (NLEX) in January 2026. The company also boosted top-line figures through ancillary streams, including service facility fees and rental income from advertising structures.
Despite revenue growth, high fuel prices curtailed travel demand across key expressways. Average daily traffic on NLEX slid 1% to 352,067 vehicle entries as of June 30. The Subic-Clark-Tarlac Expressway (SCTEX) experienced a steeper drop, falling 4% to an average of 81,111 daily entries.
Bucking the downward trend was the NLEX Connector, which saw average daily traffic rise 7% to 21,885 vehicle entries during the six-month period.
Meanwhile, spiraling operational costs tempered total earnings, with the cost of services rising 14% or P 687 million to P 5.53 billion from P 4.85 billion a year ago. NLEX Corp. noted that fuel price hikes hindered internal energy conservation efforts and elevated overheads across the board.
Repairs and maintenance expenses surged 124% to P 278 million, driven by higher labor and material costs for roadworks, alongside recurring maintenance for computer hardware, software, toll collection systems, buildings, and transportation equipment.
Increased revenues also triggered higher government royalty payments. Revenue shares paid to the Bases Conversion and Development Authority (BCDA) for SCTEX rose 6% to P 1.45 billion, while fees paid to the Philippine National Construction Corp. (PNCC) for NLEX grew 8% to P717 million.