Consolidated Service Revenues also grew by 1 percent or P2.2 billion to a record P191.4 billion in 2023. Data and broadband contributed 82 percent to this growth as it significantly grew by 4 percent or P5.9 billion to P157.6 billion.
The company’s gross expenses declined by 24 percent to P158.47 billion in 2023 from P209.43 billion in 2022.
During PLDT’s disclosure of its full-year 2023 financial results Thursday (Mar. 7), PLDT and Smart Chairman and CEO Manuel V Pangilinan said commitment plays an important role in PLDT’s continued growth.
“PLDT is aiming not just for higher profits but to return PLDT and smart to their premier positions, where they rightfully belong. This requires a commitment to excellence all around—encompassing the quality of our network, the efficiency of our installations and repairs, the innovations we pursue, and the speed of our services,” he said.
Consolidated EBITDA grew by 4 percent, or ₱3.7 billion, year-on-year to a record ₱104.3 billion in 2023, also an all-time high, resulting from higher revenues and lower capex. EBITDA margin was at 52 percent for the period.
Telco Core Income, excluding the impact of asset sales and Maya Innovations Holdings (formerly Voyager Innovations Holdings), reached ₱34.3 billion, up 3 percent, or ₱1 billion, from the previous year, ahead of guidance.
PLDT also announced that it has acquired a 5-year P1 billion Green Loan Facility from HSBC Philippines to fund the company’s ongoing expansion and modernization of its fiber network.
Green loan is a form of financing that allows borrowers to use the proceeds to fund eligible green projects.
PLDT strengthened its commitment to achieving energy efficiency since the upgrade of the network to fiber results in energy-efficient operations in support of the company’s decarbonization roadmap and sustainability agenda, the company said.
“The availability of sustainable financing facilities will help PLDT’s commitment to ensuring long-term profitability by doing business responsibly,” PLDT chief financial officer and chief risk management officer Danny Yu said.
PLDT Home’s fiber-only service revenues continued to grow, registering a 9 percent or ₱4.5 billion increase, to a record ₱53.0 billion in 2023. Fiber-only revenues accounted for 88 percent of total Home revenues of ₱60.4 billion.
Total fiber subscribers as of the end of 2023 reached 3.2 million, with 234,000 fiber net additions for the year.
PLDT recently started rolling out next-generation fiber technology, with the first commercial deployment of XGS-PON in the Philippines. This brings ultra-fast Gigabit Fiber plans to PLDTHome customers, with speeds ranging from 1 Gbps to 10 Gbps, on par with developed countries like the US, South Korea, and Singapore. This groundbreaking Fiber broadband service ushers in a new era of connectivity that gives customers an unmatched digital experience, with internet speeds of up to 100 times faster than the average 100Mbps connection at home.
“We are pleased to start this journey with HSBC and anticipate further expanding our sustainable financing portfolio with other sustainability projects,” Yu said.
PLDT chief sustainability officer Melissa Vergel de Dios for her part said
“PLDT’s first-ever Green Loan facility is an affirmation that our efforts to pursue the twin goals of energy efficiency and reduced carbon emissions are appreciated and supported by the financial community.”
PLDT has vowed to become more aggressive this year to sustain the company’s growth.
“PLDT is charting a bold, new course, armed by strategic foresight and our unwavering commitment to excellence. Our updated vision is to reshape the PLDT Group, strengthening our market leadership, pursue growth and value, and spearheading our transformative drive toward becoming a Digico. To this end, we are pleased to announce the formation of a digital entity that will harness the data assets of the MVP Group of Companies and provide new growth opportunities for them. Co-owned by PLDT, Smart, Meralco, and Metro Pacific Investments Corporation, Digico’s goal is to create an integrated platform bring a unified customer experience across the MVP Group and its partners. This represents the first step in our collective effort to drive new growth using technology across the MVP group.” Pangilinan said. Photo PLDT FB page
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