South Luzon Tollways Corp. (SLTC), operator of the South Luzon Expressway (SLEX), reported a 10 percent increase in toll revenue in the second quarter of the year mainly due to higher traffic volume.
SLTC said toll revenue in the quarter rose 10 percent to P1.24 billion from P1.12 billion in the same period last year on increased traffic volume on SLEX mostly from Class 1 vehicles.
Class 1 vehicles include cars, jeepneys, pickup trucks and vans and together they account for about 80 percent to 82 percent of total traffic volume, it said.
Class 2 vehicles include two-axle trucks, buses and vans, while Class 3 vehicles are trucks and trailers with three or more axles.
Traffic volume growth for Class 3 vehicles was also observed as evidenced by a 2-percent increase with the activity in Batangas, the company said.
On costs and expenses, the retroactive adjustment of the amended operations and maintenance fee of the Operator was recorded during the second quarter of 2014, resulting in a slightly lower fee, the company said.
The change was aimed to delineate the responsibilities of the Operator and Concessionaire to provide quality service to motorists.
Operating and maintenance covers the toll roads, toll road facilities, interchanges and related facilities, including the operation and management of toll collection systems, traffic control and other systems located and found within the toll roads.
Depreciation increased during the quarter due to the procurement of equipment to enhance the toll collection system, the company said.
The company entered into a memorandum of agreement on the Interoperability of the Muntinlupa-Cavite Expressway (MCX) and the SLEX and an accompanying Addendum to the MOA on Interoperability, both on July 21, 2015, with Ayala Corp., its 80 percent owned subsidiary MCX Tollway Inc. (MCXI) and Manila Toll Expressway Systems Inc. (MATES).
Ayala Corp. is the concession holder of MCX while MCXI is the facility operator of MCX.
The MOA on Interoperability and the addendum provide the framework that will govern the interface and integration of the technical operations and toll operation systems between the MCX and the SLEX, to ensure seamless travel access into MCX and SLEX for road users.