Financial Performance - Adjusted EBITDA is monitored by management for each business unit separately, and it is presented as a key performance indicator to assist investors in analyzing the performance of PLDT[35]. - Core income for PLDT is defined as net income attributable to equity holders, excluding certain non-recurring items, and is used for resource allocation and performance assessment[36]. - Telco core income is adjusted for specific losses and is a basis for determining dividend payouts to shareholders[37]. - The company reported total revenues of Php216,833 million (approximately US$3,748 million) and a net income of Php32,307 million (approximately US$558 million) for the year ended December 31, 2024[156]. Dividends - Total dividends declared for 2023 amounted to Php 20,525 million, with a per share dividend of Php 95[41]. - The company declared a total of Php 28,951 million in dividends for 2022, with a per share dividend of Php 134[41]. - In 2024, PLDT plans to declare dividends totaling Php 20,958 million, with a per share dividend of Php 97[41]. Market Competition - The company faces increased competition in the telecommunications sector, which may impact market share and profitability[46]. - The mobile telecommunications industry is experiencing intense price competition, particularly in data services, affecting customer experience and pricing strategies[47]. - Regulatory changes, such as the amendment to the Public Service Act, may increase competition and impact customer retention[48]. - The amendment to the Public Service Act allows for increased foreign investment but may also enable competition from foreign telecommunications companies[67]. - In 2022, the amendment to the Public Service Act removed the 40% foreign ownership restriction on telecommunications companies, increasing competition[83]. Technology and Innovation - The company is actively integrating AI into its operations, starting with a smart voice AI solution to enhance payment collections and improve employee productivity[55]. - The Philippine government is developing regulations for AI technologies, which may impose obligations and costs related to monitoring and compliance[56]. - The introduction of new prepaid eSIMs and digital delivery of eSIMs in 2023 supports the growth of mobile services, enhancing customer experience and engagement[181]. Infrastructure and Investments - The company has entered into agreements with vendors to upgrade and modernize significant portions of its IT infrastructure, but completion on schedule is not guaranteed[60]. - The company secured Php1.0 billion and Php4.0 billion Green Loan Facilities to fund the modernization and expansion of its fiber network, aiming to reduce greenhouse gas emissions by 40% by 2030[160]. - A Php2.0 billion Social Loan Facility was obtained to expand network fiber to underserved municipalities, aligning with government connectivity initiatives[161]. - The company invested Php840 million in Kayana, representing a 60% equity interest, to enhance digitalization initiatives within the MVP Group[163]. - On April 30, 2024, the company invested Php2,116 million for a 34.9% equity interest in Radius Telecom, Inc. to enhance market share[165]. - The company increased its ownership in MIH from 36.97% to 37.66% through a US$15.3 million investment in convertible preferred shares[166]. - The company sold a 4.99% equity interest in Multisys for Php270 million, retaining a 45.73% interest and continuing to consolidate its financial results[167]. Customer Base and Services - As of December 31, 2024, the company served 66.6 million users across mobile, fixed line, and data services[154]. - The total mobile subscriber base reached 58,989,807 as of December 31, 2024, reflecting a growth of 2% in prepaid subscribers and 5% in postpaid subscribers compared to the previous year[176][177]. - Mobile data services accounted for 89% of the wireless consumer segment revenues, with mobile internet revenues increasing by Php3,793 million, or 5%, to Php75,061 million from Php71,268 million in 2023[169][178]. - PLDT Home serves 3.3 million subscribers nationwide as of December 31, 2024, positioning itself as the leading home broadband service provider in the Philippines[204]. Operational Challenges - The company faces declining revenues from traditional services due to the growing use of mobile data and competition from alternative technologies[52]. - Limitations in frequency spectrum availability could negatively impact service quality and competitiveness, affecting customer retention[94][95]. - Cybersecurity threats pose significant risks to operations, with potential legal and financial repercussions from successful attacks[107]. - The company faces challenges in timely installation and maintenance of telecommunications facilities, which could adversely affect market share and service quality[101][102]. - Compliance with varying international data protection regulations may incur substantial costs and impact business practices[91]. Financial Risks - The company has significant internal cash requirements for debt service, capital expenditures, and operating expenses, which may limit its ability to pay dividends to the parent company[122]. - The company is vulnerable to fluctuations in the Philippine peso against the U.S. dollar, which could increase its U.S. dollar-denominated obligations[115]. - The company may incur significant costs due to potential new environmental legislation and regulations introduced by the Philippine Government[110]. - The company faces risks from climate change, which could increase the frequency and severity of natural disasters, impacting operations and supply chains[108]. - The company may face difficulties in funding capital expenditures if it cannot secure financing on acceptable terms[112]. Governance and Legal Matters - The company is involved in various legal proceedings that may materially impact its financial condition and operating results[135]. - Smart received a subpoena from the PCC Competition Enforcement Office related to an ongoing investigation in the telecommunications industry, submitting relevant corporate documents[82]. - House Bill 9021 mandates refunds for internet service outages lasting 24 hours or more, requiring significant operational adjustments for compliance[84][86]. - House Bill 10289 institutionalizes a roll-over data allocation scheme for ISPs, necessitating substantial capital and operational expenditures for compliance[87]. - The KP Act, if enacted, will liberalize the telecommunications sector by removing legislative franchise requirements, potentially reshaping market dynamics[88]. Strategic Partnerships - PLDT's strategic partnerships with institutional investors like First Pacific and NTT DOCOMO enhance its market position and product offerings[171]. - Smart enhances PLDT Enterprise's portfolio with IoT solutions, driving operational efficiency through advanced analytics and connected devices[227].

Core Insights - The article emphasizes the importance of a ranking system based on earnings estimates and revisions to identify winning stocks, while also acknowledging the diverse strategies investors may adopt [1] - Value investing is highlighted as a particularly popular and successful strategy across various market conditions, utilizing established valuation metrics [2] - The Zacks Style Scores system is introduced, with a focus on the "Value" category, where stocks with "A" grades and high Zacks Ranks are considered top value stocks [3] Company Analysis: PLDT (PHI) - PLDT (PHI) is currently rated with a Zacks Rank of 2 (Buy) and has a Value grade of A, indicating strong potential for value investors [4] - The stock's P/E ratio stands at 7.89, which is lower than the industry average of 9.04, suggesting it may be undervalued [4] - PHI's Forward P/E has fluctuated between 10.14 and 7.06 over the past year, with a median of 8.55, further supporting its valuation appeal [4] - The P/CF ratio for PHI is 3.23, which is attractive compared to the industry average of 4.12, indicating solid cash flow relative to its valuation [5] - Over the past 52 weeks, PHI's P/CF has ranged from 2.88 to 4.05, with a median of 3.37, reinforcing its undervaluation perspective [5] - Overall, the metrics suggest that PLDT is likely undervalued, and its strong earnings outlook positions it as one of the market's strongest value stocks [6]

Financial Data and Key Metrics Changes - PLDT's service revenue grew by 2% year-on-year to PHP 194.7 billion, driven by Fiber Mobile data and Enterprise ICT [9] - Gross revenue rose by 3% to PHP 208.4 billion, with EBITDA expanding by 4% to PHP 108.5 billion [9][10] - EBITDA margin remained strong at 52%, indicating sustained profitability despite ongoing investments [10][19] - Telco Core income increased by 2% to PHP 35.1 billion, reflecting earnings stability [10][19] Business Line Data and Key Metrics Changes - Individual segment revenues rose by 2% to PHP 83.5 billion, with Mobile Data increasing by 5% year-on-year [12] - Home segment revenues reached PHP 60.7 billion, with Fiber-only revenues growing by 6% to PHP 56 billion [14] - Enterprise revenues grew by 3% to PHP 48.4 billion, with ICT services up 15% to PHP 35 billion [17] Market Data and Key Metrics Changes - Active data users reached 41.3 million, with average monthly mobile data usage per user growing by 5% [12] - PLDT's ARPU of PHP 1,488 remains above industry average, with over 75% of new activations opting for premium plans [15] Company Strategy and Development Direction - PLDT is focused on expanding revenues, managing costs, and improving cash flow generation in 2025 [10] - The company aims to leverage 5G expansion and AI-driven marketing strategies to enhance customer engagement and revenue generation [13][50] - PLDT is committed to sustainability, with a goal of running data centers on at least 40% renewable energy by 2030 [72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and steady revenue growth despite competitive pressures [36] - The company is focused on cost efficiency while ensuring CapEx is directed towards high-impact areas [36] - Management indicated that they are not yet comfortable providing specific guidance for 2025 core income but expect increases in revenues and profitability [123] Other Important Information - PLDT's net debt-to-EBITDA stands at 2.52 times, with a target to reduce it to 2.0 times in the mid-term [23] - The company retained its investment-grade ratings from S&P and Moody's, reflecting prudent debt management [25] - Maya Bank has shown significant growth, with a customer base increase of 71% year-on-year to 5.4 million [28] Q&A Session Summary Question: What is PLDT's stance on the Konektadong Pinoy Act? - PLDT supports the government's effort to provide open access and requests equal treatment with data transmission providers [79][81] Question: What initiatives are driving customer retention in the Home segment? - PLDT Home focuses on competitive offers, increasing speeds, and improving service quality to maintain a low churn rate of 1.7% [92] Question: How did PLDT drive higher ARPU in Q4 while peers saw a decline? - PLDT achieved higher ARPU through improved sales and marketing infrastructure and effective 5G rollout [99] Question: What is the reason for subscriber losses in prepaid during Q4? - The decline was due to a year-end cleanup of subscribers [127] Question: Can you elaborate on the GPU-as-a-Service offering? - The GPU-as-a-Service offering is in early stages, with discussions ongoing with enterprises to explore use cases [132]

Financial Data and Key Metrics Changes - Service revenue grew 2% year-on-year to PHP 194.7 billion driven by Fiber Mobile data and Enterprise ICT [9] - Gross revenue rose by 3% to PHP 208.4 billion [9] - EBITDA expanded by 4% to PHP 108.5 billion, with an EBITDA margin of 52% [10][19] - Telco Core income increased by 2% to PHP 35.1 billion, reinforcing earnings stability [10][19] - Reported income surged 21% to PHP 32.3 billion, up PHP 5.7 billion year-on-year [20] Business Line Data and Key Metrics Changes - Individual segment revenues rose by 2% to PHP 83.5 billion, with Mobile Data up by 5% [12] - Home revenues hit PHP 60.7 billion, with Fiber-only revenues growing by 6% to PHP 56 billion [14] - Enterprise revenues grew 3% to PHP 48.4 billion, with ICT services up 15% to PHP 35 billion [17] Market Data and Key Metrics Changes - Active data users reached 41.3 million, with average monthly mobile data usage per user growing by 5% [12] - PLDT's ARPU of PHP 1,488 remains at a premium to the industry [15] - Maya Bank's customer base grew 71% year-on-year to 5.4 million [28] Company Strategy and Development Direction - Focus on expanding revenues, managing costs, and improving cash flow generation in 2025 [10] - Strategic investments in network leadership, AI-driven marketing, and digital transformation [36] - Commitment to sustainability with a target of running data centers on at least 40% renewable energy by 2030 [72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining profitability amid competitive pressures [10] - Anticipated continued growth in mobile data and enterprise ICT segments [36] - Plans to enhance customer experience and retention through improved service and innovative offerings [92] Other Important Information - CapEx for 2024 totaled PHP 78.2 billion, with guidance for 2025 between PHP 68 billion and PHP 73 billion [21][22] - Net debt-to-EBITDA currently stands at 2.52 times, with a target to reduce it to 2.0 times in the mid-term [23] - PLDT retained investment-grade ratings from S&P and Moody's [25] Q&A Session Summary Question: What is PLDT's stand on the Konektadong Pinoy Act? - PLDT supports the government's effort to provide open access and requests equal treatment with data transmission providers [79][81] Question: What initiatives are driving customer retention in the Home segment? - PLDT Home focuses on competitive offers, increasing speeds, and improving service to maintain a low churn rate of 1.7% [92] Question: Can you clarify the 11% increase in Fixed Line from 2023 to 2024? - The increase is attributed to bundled products, with voice services growing as part of these bundles [115] Question: Any preliminary guidance for 2025? - Management is not comfortable providing specific guidance for core income for 2025 but expects increases in revenues and profitability [123] Question: Why did PLDT see subscriber losses on prepaid in the fourth quarter? - The losses were due to a year-end cleanup of subscribers [127] Question: What has demand been like for GPU-as-a-Service? - Demand is growing, and PLDT is in discussions with enterprises to explore use cases for this service [133]

Presentations Page (IR website) FY2024 Analysts Briefing 1 Financial Highlights Stable Expansion and Earnings Growth | | FY24 | FY23 | Change | % Change | | --- | --- | --- | --- | --- | | Service Revenues [net of interconnection costs] | 194.7bn | 191.4 | +3.3bn | +2% | | Cash Opex, Subsidies, Provisions (ex-MRP) | 86.1bn | 87.1bn | -1.0bn | -1% | | EBITDA (ex-MRP) | 108.5bn 52% margin | 104.3bn 52% margin | +4.2bn | +4% | | Depreciation & Amortization | 50.5bn | 46.9bn | +3.7bn | +8% | | EBIT | 58.0bn | 5 ...

APLDT & Smart | --- | --- | --- | --- | |-----------------------|-------|-------|-------| | | | | | | 12 th November 2024 | | | | (IR website) PLDT Group: Financial Highlights | --- | --- | --- | --- | |-------------------------------------------------|--------------------|--------------------|----------------| | (Php in bn) | 9M24 | 9M23 | 9M24 vs 9M23 | | Service Revenues (net of interconnection costs) | 144.9bn | 142.3bn | 2% +2.6bn | | Cash Opex, Subsidies, Provisions (ex-MRP) | 64.2bn | 63.9bn | +0.3bn ...

Core Insights - The article introduces Daniel Javier as a new contributing analyst for Seeking Alpha, inviting others to share their investment ideas for publication and potential earnings [1]. Group 1 - The logistics sector is highlighted as a focus area, with nearly two decades of experience noted [2]. - The analyst emphasizes a specialization in stock investing and macroeconomic analysis for almost a decade, particularly in ASEAN and NYSE/NASDAQ stocks [2]. - Key sectors of interest include banks, telecommunications, logistics, and hotels [2].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 November 12, 2024 PLDT INC. (Translation of registrant's name into English) Ramon Cojuangco Building Makati Avenue, Makati City Philippines (Address of registrant's principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ ...

Group 1 - The article emphasizes the focus on value investing in Asia, particularly targeting stocks with significant discrepancies between market price and intrinsic value, including deep value balance sheet bargains and wide moat stocks [1] - PLDT Inc. (NYSE: PHI) is highlighted as a stock with a Buy rating, with improved prospects for its wireless business due to a better competitive environment in the Philippine mobile services market [1] - The author provides investment ideas specifically for value investors interested in the Hong Kong market, focusing on deep value and high-quality businesses [1]

Core Viewpoint - The article emphasizes the importance of identifying and sustaining trends in short-term investing, highlighting that sound fundamentals and positive earnings estimates are crucial for maintaining stock momentum [1]. Group 1: Stock Performance - PLDT (PHI) has shown a solid price increase of 17.5% over the past 12 weeks, indicating strong investor interest [3]. - The stock has also increased by 12% over the last four weeks, suggesting that the upward trend is still intact [4]. - Currently, PHI is trading at 82.3% of its 52-week high-low range, indicating a potential breakout [4]. Group 2: Fundamental Strength - PHI holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [6]. Group 3: Investment Strategy - The article suggests that investors can utilize the "Recent Price Strength" screen to identify stocks like PHI that are on an uptrend with strong fundamentals [2]. - It also mentions that there are over 45 Zacks Premium Screens available for investors to find potential winning stocks based on their investing style [7].