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PLDT sees 4.5% rise in 9M service revenue fuelled by strong broadband growth

3 Nov 2022

PLDT Inc. (including Smart Communications) reported consolidated service revenues of PHP141.9 billion (USD2.43 billion) in January-September 2022, up 4.5% versus the same period of 2021, as reported net income surged 45% to PHP27.4 billion bolstered by the one-time PHP22.3 billion gain from the sale of tower assets. The group said core income for the nine-month period (excluding the impact of asset sales and Voyager Innovations) rose 10.0% y-o-y to PHP25.4 billion, while EBITDA rose 6% y-o-y hitting an ’all-time high’ of PHP75.4 billion; EBITDA margin was at 51%.

The telco noted that data and broadband – revenues from which rose 9.0% on an annualised basis to PHP113.2 billion – continue to drive growth, contributing 80% of consolidated service revenues. PLDT’s fibre-only home revenues surged by 52% y-o-y to PHP35.7 billion, as it added a net 489,000 fibre subscriptions and built out 1.29 million new fibre ports in the first nine months of this year for a total of 5.90 million. PLDT closed out September with 2.909 million Home Fiber subscriptions, out of a total of 4.065 million fixed broadband subscriptions (incl. 823,000 fixed wireless).

PLDT Group also reported that its total fibre footprint had increased to 1.091 million kilometres, comprising over 231,000km of international fibre and almost 860,000km of domestic fibre, passing some 16.8 million homes in 67% of the country’s cities and municipalities. The fibre networks support mobile arm Smart’s 77,200 base stations, including 7,300 5G base stations and 39,700 4G LTE base stations. Smart’s network covered 97% of the population with 3G, 4G LTE and 5G at 30 September 2022. It reported 2.511 million ‘connected unique devices’ to its 5G network at the same date, up from 759,000 y-o-y. Total mobile subscriptions stood at 67.996 million (down 5%).

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Philippines, PLDT Inc. (incl. Smart Communications)

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