Digitel reports rising revenue in 2011

26 Mar 2012

Filipino fixed and mobile operator, Digital Telecommunications Philippines (Digitel), which is now majority owned by Philippine Long Distance Telephone Company (PLDT), has reported a 15% increase in revenue for FY2011 to PHP22.0 billion (USD519.4 million), from PHP19.1 billion in FY2010. The group said the increase in turnover was driven by growth from its mobile arm Digitel Mobile (Sun Cellular), where service revenue increased by PHP2.7 billion year-on-year and subscriber numbers rose to 14.7 million by end-2011, of which 1.4 million were post-paid users. Digitel’s consolidated core net income, excluding one-off provisions and non-recurring items, climbed by 64% y-o-y to PHP1.1 billion from PHP700 million in full year 2010; group EBITDA improved 2% y-o-y to PHP5.8 billion. However, the Digitel group reportedly booked a net loss of PHP63.9 billion last year due to impairment charges on its network assets, FOREX losses and losses arising from changes in the terms of some convertible bonds.