PLDT Inc. reports increases in core and net income in 9M17

10 Nov 2017

The Philippines’ largest telco by subscribers and revenue, PLDT Inc., reported net income of PHP21.942 billion (USD428.6 million) in January-September 2017, up 38% from PHP15.900 billion in the corresponding year-earlier period, as core income climbed by 7% to PHP23.189 billion. The telecommunications and digital services provider said its increased bottom line was bolstered by the sale of its subsidiaries Beacon Electric Asset Holdings Inc. and SPi Technologies, and noted that nine-month revenues slipped 5% to PHP119.066 billion from PHP125.386 billion and EBITDA rose 7% to PHP49.129 billion; EBITDA margin was 43%, compared to 38% in 9M16.

Commenting on the results, PLDT Group Chief Revenue Officer Eric Alberto said: ‘Data usage is driving all our businesses and we recognise that superior infrastructure is a key variable to providing the best data experience. We are therefore stepping up our investments in the next few years to ensure that our customers – whether individuals or companies – enjoy that experience via whatever device they are on, wherever they may be.’ Data, broadband, and digital services grew 11% year-on-year to PHP49.600 billion, representing over 45% of total revenues. The telco has set aside PHP38 billion as capital expenditures in 2017 to further expand its growth in its home and enterprise businesses. Chairman and CEO Manuel V Pangilinan added: ‘Our full-year CAPEX guidance remains at PHP38 billion in 2017, with about another PHP15 billion committed already this year, but which we forecast will be finished in 2018. We will continue to ramp up our capital investments in the near-term, as we are determined to have the best network.’ The footprint of PLDT’s fibre-optic network is on track to reach approximately four million homes by end of 2017, up from 2.8 million as of end-2016. Here, Pangilinan said PLDT would be focusing on its fixed line services to further sustain its growth for FY 2018.

PLDT Inc.’s mobile businesses Smart Communications and Sun Cellular closed out 30 September 2017 with a total of 58.218 million mobile users, down 11% on an annualised basis, of which 55.651 million are pre-paid (down 11%) and 2.567 million post-paid (down 18%). The number of fixed broadband users stood at over 1.903 million, including 1.651 million fixed line broadband and 251,897 wireless home broadband connections. The company also reported more than 2.614 million fixed voice telephony lines at end-September, up 9% y-o-y from 2.405 million in the same month of 2016.