The nine-month revenues accounted for 87 percent of the total Home revenues of P45.3 billion. The growth according to PLDT is 2 percent of P1.0 billion higher compared with the same period last year.
The growth of revenues is attributed to the increase of total fiber subscribers at 3.14 million as of the end of September 2023 with 210,000 fiber net additions for the first nine months. Net adds increased to 88,000 from about 42,000 in the second quarter, PLDT said in its financial report.
“As of end-September 2023, PLDT’s total number of fiber ports rose to 6.15 million covering over 18,000 barangays nationwide. Working with city governments in various regions to boost productivity and hybrid learning among communities, PLDT deployed the fastest fiber connectivity in cities and municipalities including major tourism hubs in the country such as the Island Garden City of Samal in Davao, Siargao Island in Tacloban, Bantayan Island in Cebu, and Cagayan de Oro.”
PLDT in a disclosure to the Philippine Stock Exchange reported a net income of P27.88 billion in the first nine months as total revenues grew by three percent to P156.36 billion. This came as expenses declined by 14 percent to P116.59 billion.
“Now more than ever, we are witnessing how the power of technology and digital services impact Filipinos’ standard of living, with innovations bringing convenience, comfort, productivity, and security to improve overall quality of life,” PLDT and Smart president and CEO Al Panlilio said.
Consolidated EBITDA grew by 4 percent or ₱2.8 billion year-on-year to ₱78.4 billion in the first nine months, also an all-time high, due to higher revenues and lower opex. EBITDA margin was at 52 percent for the period. Recording five consecutive quarters of improvement, consolidated EBITDA is trending to exceed again the ₱100-billion mark this year.
Telco Core Income, excluding the impact of asset sales and Maya Innovations Holdings (formerly Voyager Innovations Holdings), reached ₱26.1 billion, up ₱0.5 billion or 2% from last year.
Consolidated Net Debt at the end of the first nine months of 2023 amounted to ₱252.1 billion; net debt-to-EBITDA stood at 2.44x, down from 2.48x as at the end of 2Q23. Gross Debt stood at ₱274.5 billion, with maturities well spread out. Only 15% of Gross Debt is denominated in U.S. dollars and 5% are unhedged. PLDT credit ratings from Moody’s and S&P Global remained at investment grade, PLDT reported.
The results made PLDT chairman Manuel V. Pangilinan optimistic about PLDT’s performance for the remaining months of 2023.
“The company has done reasonably well against a tough inflationary environment, relatively high-interest rates, and economic growth. In this regard, we are guiding full-year core net income of P34 billion, compared with P33.3 billion in 2022,” Pangilinan said.
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