PANGILINAN-LED Metro Pacific Tollways Corp. (MPTC) said the continued expansion of its regional toll-road network and stronger operations in Indonesia supported its first-half performance even as traffic in the Philippines declined.
MPTC said its first-half results reflected the continued expansion of its toll-road network in the Philippines and Indonesia, contributions from overseas investments, and new road sections coming into service despite a 1% decline in domestic traffic.
“Our first-half results reflect a broader and still-expanding regional business. Traffic in the Philippines is only one part of the picture. New road openings, stronger Indonesian operations and our equity investments all contributed to the period’s performance,” MPTC said in a statement on Monday.
Across its regional portfolio, average daily vehicle entries rose by 1% to about 2.5 million. Traffic in Indonesia increased by 3% to 1.67 million daily vehicle entries, while Philippine traffic averaged 715,200 entries a day.
Revenue growth was supported by the opening of Manila-Cavite Expressway (CAVITEX) C5 Link Segment 3B Phase 1 and Cavite-Laguna Expressway (CALAX) Subsection 3, which added operational sections to MPTC’s network.
In Indonesia, stable logistics activity, scheduled tariff adjustments, and improved access to toll roads amid ongoing road works also supported performance, MPTC said.
The company said its share in the net earnings of equity investments in Indonesia also contributed to higher core profit. MPTC’s regional footprint now covers more than 1,100 kilometers of toll roads across the Philippines, Indonesia, and Vietnam.
MPTC expanded its Indonesian toll-road portfolio in late 2024 through an investment in PT Jasamarga Transjawa Tol, which manages a 676-kilometer network of 13 toll roads across West Java, Central Java, and East Java.
For the first half, MPTC’s attributable net income rose by 6% to P3.71 billion.
Total revenues grew by 7.7% to P20.53 billion from P19.06 billion a year earlier, according to its financial report.
Operating revenues accounted for the bulk of the total at P19.60 billion, or about 95.5%, while non-toll revenues declined by 1.3% to P930 million from P942 million a year earlier.
MPTC said toll revenues rose by 8% to P19.6 billion during the six-month period.
The company spent P7.6 billion in capital expenditures in the first half, 5% lower year on year as completion schedules for ongoing projects were affected by right-of-way and related construction issues.
Current works include North Luzon Expressway (NLEX) Segment 8.2 Section 1A from Mindanao Avenue to Quirino Highway, the remaining CALAX subsections, and the CAVITEX-CALAX Link Expressway.
Remaining works are also ongoing on CAVITEX C5 Link Segment 3B Phase 2 and the NLEX Connector.
MPTC said toll adjustments are implemented only after regulatory approval and are intended to support the operation, maintenance, and continuing development of expressways under their respective concession agreements.
The company has also provided toll relief to qualified public transport and freight operators, including assistance worth more than P2 million a day under transport-support programs.
“Our priority remains the same: keep our roads safe and reliable, finish critical links as quickly as right-of-way and construction conditions allow, and deliver better mobility for motorists, commuters and businesses,” MPTC said.
MPTC is the tollways arm of Metro Pacific Investments Corp. (MPIC), one of the Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
MPTC cites regional network, Indonesia operations as growth drivers
Philippines Pandemic
إرسال تعليق