PLDT(US:PHI)2026-02-26 08:32Financial Data and Key Metrics Changes - Gross service revenues reached PHP 212.2 billion, up 2% or PHP 3.8 billion year-on-year [4] - Net service revenues reached PHP 196.2 billion, marking a record [4] - EBITDA, excluding MRP costs, rose 3% to PHP 111.2 billion, with margins steady at 52% [4] - Telco core income was PHP 33.9 billion, down 3%, mainly due to higher financing costs and depreciation [4][16] - Core income improved to PHP 34.6 billion, up 1%, supported by Maya's swing to profitability [4][16] Business Line Data and Key Metrics Changes - Wireless consumer revenues were PHP 85 billion, steady year-on-year [5] - Fiber revenues grew 6% to PHP 59.4 billion, accounting for 98% of Home revenues [6] - Enterprise revenues grew to a record PHP 48.4 billion, with corporate data and ICT growing 3% to PHP 36.3 billion [6][12] - Fixed wireless revenues were up 22% year-on-year, supported by the shift from 4G to 5G [11] Market Data and Key Metrics Changes - Mobile data traffic grew 7% to 5,900 petabytes in 2025, with active data users reaching 43.2 million [10] - 5G devices were up 35% to 11.2 million, while 5G data traffic rose 88% [10] - Total loans disbursed by Maya reached PHP 256 billion since 2022, with deposit balances at approximately PHP 68 billion, up 72% year-on-year [20] Company Strategy and Development Direction - The company is focusing on maintaining positive free cash flow and reducing CapEx, with guidance for 2026 in the mid PHP 50 billion range [17][19] - Continued investment in digital infrastructure and the development of Maya as a leading digital financing platform [20][23] - The launch of the country's first operational hyperscale facility through VITRO, aimed at supporting enterprise and public sector workloads [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in market position supported by improving operational fundamentals and strategic investments [26] - The Philippine telco industry was described as anemic in 2025, with PLDT's revenues growing by 1% compared to a slight decline for competitors [86] - Management anticipates improvement in the industry in 2026, with hopes for better performance alongside competitors [87] Other Important Information - Total cash OPEX came in at PHP 84.9 billion, down 1% year-on-year, reflecting disciplined spending [15] - PLDT continues to be rated investment grade by S&P and Moody's, with stable outlooks [18] - The company is making notable gains in sustainability, being included in the S&P Global Sustainability Yearbook for the second consecutive year [24] Q&A Session Summary Question: What drove the difference in mobile growth between PLDT and Globe? - The growth for PLDT was driven by hyper-personalization offers that allowed upselling, while Globe saw subscriber growth [28][30] Question: What influenced the flat broadband growth and ARPU softness? - The flat growth was impacted by major calamities that diverted resources to repairs, affecting installation activity [31][32] Question: Update on Konektadong Pinoy and Maya's IPO? - The implementation of the KP Act is ongoing, with eligibility criteria released [37][38] - No comments on Maya's IPO at this time [40] Question: What is the update on the data center stake sale? - A late IPO for the data center is being considered, with an international bank assisting [42] Question: What is driving the increase in interest expense? - The increase is attributed to interest rates, loan balances, and accretion on liabilities [68]