Loading...
01/11 03:45
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call shows mixed signals. Basic financial performance is stable, with fiber and fixed wireless revenues growing, but overall revenue is down. Product development and market strategies are promising, with 5G and AI services expanding. However, there are concerns about wireless revenue softness and unclear management guidance. The Q&A highlights potential legal challenges and refinancing concerns, but also growth in Maya and 5G. Without clear guidance and given mixed financial results, the stock is likely to remain neutral in the short term.
Service Revenues PHP 97.1 billion, a touch higher year-on-year, driven by steady growth from fiber and disciplined cost management.
EBITDA PHP 55.5 billion, up 3% from last year, supported by steady growth from fiber and disciplined cost management. EBITDA margin remained steady at 52%.
Telco Core Income PHP 17.2 billion, down 4% year-on-year, mainly due to higher depreciation and financing costs from network investments.
Core Income PHP 17.6 billion, up 1%, lifted by Maya's positive earnings. Maya's core earnings amounted to PHP 406 million, marking a PHP 1.1 billion turnaround from a PHP 693 million loss last year.
Home Revenues PHP 30.4 billion, up 4% year-on-year, led by strong steady fiber demand.
Enterprise Revenues PHP 23.5 billion, down 1% year-on-year, due to declines in legacy businesses and lower public sector deal closures tied to elections and leadership changes.
ICT Revenues PHP 3.2 billion, up 15% year-on-year, driven by growth in data center colocation (up 36%) and cybersecurity services (up 24%).
Individual Revenues PHP 42.3 billion, down 1% year-on-year, reflecting weaker legacy offerings. Mobile data revenues were stable at PHP 37.4 billion, making up 89% of the segment.
Fiber Revenues PHP 29.5 billion, up 7% year-on-year, now making up 97% of total home revenues.
Fixed Wireless Revenues Grew 12% year-on-year, driven by the introduction of a new 5G modem and the strength of the 5G network.
Cash Operating Expenses (OpEx) PHP 41.6 billion, down 3% year-on-year, reflecting rightsizing efforts, better campaign targeting, and improved spend efficiency.
CapEx PHP 27.4 billion for the first half of 2025, with a reduction in full-year guidance due to favorable pricing and negotiated terms with vendors.
Net Debt PHP 282.6 billion, with a net debt-to-EBITDA ratio of 2.57x. Interest cover remains healthy at 3.52x.
KiQ Mobile Service: Launched as the Philippines' first app-based mobile service targeting Gen Z, offering personalized digital telco experiences.
VITRO Santa Rosa: Inaugurated as the country's first operational AI-ready hyperscale facility, supporting enterprises, hyperscalers, and AI workloads.
5G Adoption: 5G traffic surged 84% year-on-year, with 5G-enabled devices now comprising 17% of the customer base.
Maya Digital Bank: Achieved its first profitable semester with PHP 406 million in core income, marking a significant turnaround from a loss last year.
Cost Management: Cash OpEx reduced by 3% year-on-year, driven by rightsizing efforts and improved spend efficiency.
EBITDA Margin: Maintained at 52%, supported by growth in fiber, ICT, and personalized mobile offers.
Sustainability Initiatives: Signed agreements to source renewable energy and received multiple recognitions for sustainability efforts.
Debt Management: Net debt-to-EBITDA ratio at 2.57x, with proactive management of maturities and a diversified debt portfolio.
Decline in Telco Core Income: Telco core income decreased by 4% due to higher depreciation and financing costs related to network investments.
Enterprise Revenue Decline: Enterprise revenues fell by 1% due to the loss of POGO connectivity and delayed public sector deal closures tied to elections and government leadership changes.
Legacy Service Declines: Continued decline in legacy services negatively impacted individual and enterprise revenues.
Debt Levels and Financing Costs: Net debt stood at PHP 282.6 billion with a net debt-to-EBITDA ratio of 2.57x, and higher depreciation and financing costs are weighing on results.
Regulatory and Public Sector Delays: Delayed public sector deal closures due to elections and leadership changes in government agencies impacted enterprise revenues.
Competitive Pressures: Competitive pressures in the market are affecting ARPU stability and revenue growth in individual segments.
Supply Chain and Cost Management: Repairs and maintenance costs rose by 4% due to network expansion and site rollouts, highlighting ongoing cost pressures.
Economic and Market Uncertainty: Economic uncertainties and market transitions, such as the shift from legacy services to new technologies, pose challenges to revenue stability.
Revenue Growth: PLDT expects additional upside from enterprise deal closures and traction from new product launches in the second half of 2025. Mobile data, fiber, and corporate data ICT now represent 90% of total revenues, with continued growth expected in these areas.
Capital Expenditures (CapEx): PLDT has revised its full-year CapEx guidance to PHP 63 billion, down from the original PHP 68-73 billion, due to favorable pricing and negotiated terms. Investments will focus on network quality, LTE and 5G upgrades, fiber port builds, submarine cables, and AI infrastructure.
Debt Management: PLDT aims to return to positive free cash flow by 2026 and targets a net debt-to-EBITDA ratio of 2.0x over the medium term. The company maintains a healthy interest cover of 3.52x and a diversified debt portfolio.
5G and Mobile Data: PLDT anticipates robust adoption of 5G and increased data usage to support future growth. 5G traffic surged 84% year-on-year, and 5G-enabled devices now make up 17% of the customer base, up from 11% a year ago.
Enterprise and ICT Growth: ICT revenues grew 15% year-on-year, with data center colocation up 36% and cybersecurity services expanding by 24%. The company expects delayed public sector deal closures to be booked in the second half of 2025.
Maya's Financial Performance: Maya, PLDT's fintech arm, is expected to continue its profitability trajectory, contributing significantly to PLDT's core income. Maya's deposits and loans are projected to grow further, supported by new product launches and ecosystem integration.
AI and Data Center Expansion: PLDT's VITRO Santa Rosa, an AI-ready hyperscale facility, positions the Philippines as a regional hub for digital services and AI innovation. The facility is expected to drive growth in colocation revenues and enterprise AI solutions.
Interim Cash Dividend: The Board declared an interim cash dividend of PHP 0.48 per share, in line with the regular payout policy of 60% of Telco Core income. This corresponds to a Telco Core earnings per share of PHP 0.80 for the first half. Based on PLDT's closing share price as of June 30, the 12-month trailing yield stands at about 8%.
The earnings call highlights robust growth in key areas such as 5G adoption, enterprise and ICT revenues, and Maya's financial performance. Despite some concerns about Maya's net income drop and mobile business performance, the overall outlook remains positive with strong financial metrics, improved cash flow, and strategic investments in AI and digital infrastructure. The Q&A session revealed optimism about government projects and potential partnerships, though some regulatory uncertainties persist. Overall, the company's strategic initiatives and financial health suggest a positive stock price movement over the next two weeks.
The earnings call shows mixed signals. Basic financial performance is stable, with fiber and fixed wireless revenues growing, but overall revenue is down. Product development and market strategies are promising, with 5G and AI services expanding. However, there are concerns about wireless revenue softness and unclear management guidance. The Q&A highlights potential legal challenges and refinancing concerns, but also growth in Maya and 5G. Without clear guidance and given mixed financial results, the stock is likely to remain neutral in the short term.
The earnings call presents a mixed picture. Financial performance shows stable core income and revenue growth in fiber and ICT, but a decline in telco core income and mobile revenue. The Q&A reveals ongoing challenges, such as POGO revenue pressures and a lack of guidance for 2025 net income. However, there are positive aspects like the signing of a large hyperscale customer for VITRO and sustainable subscriber growth. The lack of guidance and ongoing depreciation costs offset some positives, resulting in a neutral sentiment.
The earnings call presents a mixed picture. Financial performance shows some positive aspects, like EBITDA growth and Maya's profitability, but core income decline and lack of net income guidance are concerning. The Q&A highlights uncertainties in mobile segment and reluctance to disclose certain financial metrics. While there are positive developments in 5G and enterprise solutions, the absence of net income guidance and ongoing challenges in mobile revenue temper enthusiasm. The market's reaction is likely to be neutral, as positives are balanced by uncertainties and lack of guidance.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
