PLDT (PHI) Q4 2024 earnings summary

Executive summary

• Service revenues reached PHP 194.7B, up 2% year-on-year, driven by fiber, mobile data, and digital services.

• EBITDA rose 4% to PHP 108.5B, with a stable 52% margin, reflecting operational efficiency.

• Reported net income surged 21% to PHP 32.3B; telco core income increased 2% to PHP 35.1B.

• Maya Bank achieved profitability, with deposits up 59% and customer base up 71% year-on-year.

• Strategic focus on network leadership, digital transformation, and sustainability initiatives.

Financial highlights

• Gross service revenues up 3% to PHP 208.4B; total revenues reached PHP 216.8B.

• EBITDA margin at 52%; capex for 2024 was PHP 78.2B, intensity down to 38%.

• Dividend payout at PHP 97/share, with a 7% trailing yield and 60% payout ratio.

• Expenses declined 2% to PHP 166.3B; income before tax up 17% to PHP 42.7B.

• EPS (reported): PHP 149.26; Telco core EPS: PHP 162.36.

Outlook and guidance

• 2025 CapEx guidance set at PHP 68–73B, focusing on 5G, fiber, AI, and data centers.

• Targeting net debt/EBITDA reduction to 2.0x in the midterm and positive free cash flow by 2026.

• Continued expansion in 5G, AI-driven marketing, and enterprise digital solutions.

• No specific 2025 income guidance yet; expect revenue and profitability growth, pending economic clarity.

• Focus on innovation, AI, and digital transformation to shape future growth.