The Philippines’ largest, fully integrated telecommunications company PLDT Inc. (PLDT) (PSE: TEL) (NYSE: PHI) grew Consolidated Service Revenues (net of interconnection costs) by a record 9%, or ₱3.7 billion, to ₱45.0 billion in the second quarter of 2021. In the first half of 2021 versus a year ago, Service Revenues increased 8.5%, or ₱7.0 billion, to ₱89.9 billion, led by data/broadband, which grew by 16% to ₱68.3 billion.
According to PLDT and Smart Communications President and CEO their initiatives in the first half of the year reassert the group’s commitment to a digitally-empowered Philippines, providing world-class connectivity as a human right, positioning the country as a key player in the global arena, and actively embarking on sustainable development.
“We enable Filipinos to secure a better future,” he emphasized.
PLDT and Smart continuously invested in network expansion to support the exponential rise in data traffic, bringing total first half capex to ₱41.3 billion.
In line with business demand and in support of revenue growth, the company continued rollout of its fiber, 5G and 4G/LTE networks is underpinned by its 2021 capex guidance of between ₱88 billion and ₱92 billion. The investment empowers increasingly connected societies in the new normal, where customers’ digital lifestyles rely on strong connectivity.
PLDT Home accelerated its momentum and recorded revenues of ₱11.8 billion in the second quarter, up by 27% or ₱2.5 billion higher than the same period last year. This is the second consecutive quarter of double-digit revenue growth for the business this year. In the first half, service revenues grew by 23%, increasing by ₱4.2 billion, the highest increase among all business segments, to ₱22.7 billion.
Focusing on the Fiber-to-the-Home (FTTH) business, PLDT Home’s fiber revenues grew at a record pace, up 74% year-on-year or ₱6.0 billion to ₱14.1 billion in the first half of 2021. On a quarterly basis, FTTH revenues grew 81% or ₱3.5 billion to ₱7.7 billion in the second quarter, compared to the same period last year.
PLDT Home recorded close to half a million new FTTH installations in the first half of 2021. PLDT continued to ramp up installation capacity to achieve a monthly average of about 90,000 new connects plus another 21,000 migrations to fiber during the second quarter. The level of monthly new connects has improved from about 80,000 in the first three months of the year to 90,000 in the second quarter and trended to almost 100,000 in July despite the typhoon. A total of 155,000 copper customers have been migrated to fiber as of end July 2021.
Continued work-from-home activities and growth of its ICT business drove PLDT Enterprise revenues in the first half of 2021, reaching ₱20.4 billion, representing a growth of 2% or about ₱400.0 million compared to the same period last year. Data/broadband revenues accounted for 72% of total Enterprise service revenues for the period.
Chairman Pangilinan re-affirmed the Company’s unwavering commitment to serving the evolving digital lifestyles of individuals, families and businesses, enabling the nation’s economic recovery from the pandemic-induced recession.
“We must stay keenly focused on serving our customers, especially during this crisis— keeping families connected, entertained, and educated; enabling businesses to operate at home or in the office; ensuring healthcare delivery to those who need it— and simply being a source of strength amidst extraordinary adversity and affliction.”