PLDT posts basic net income of 30.2 billion pesos in telecommunications in 2021

0

MANILA – PLDT Inc said on Thursday it recorded a net income of 30.2 billion pesos in 2021, as its services revenue hit a record high during the pandemic.

The total is 8% higher than a year earlier, the telecom operator said in a statement to the stock exchange.

Consolidated services revenue in the fourth quarter reached 46.2 billion pesos, bringing the total for the full year to 181.1 billion pesos, he added.

“2021 has proven to be a banner year for PLDT as we have reached unprecedented heights in all areas despite the challenges posed by the pandemic, calamities and hyper competition,” said the President and CEO. direction of PLDT and Smart, Alfredo Panlilio.

“This exceptional performance sets the stage for 2022 and beyond as we continue to build on our strengths as an integrated telecommunications operator and our commitment to serving our customers in the best possible way,” he said. he adds.

PLDT chairman Manny Pangilinan said 2021 income was an all-time high, while reaching over 30 billion pesos in basic income is a level they haven’t seen since 2015.

PLDT said its fibre-to-the-home business saw “record” growth in 2021, with its fiber-only revenue growing 82% to 33 billion pesos.

Fiber capacity totaled 5.77 million ports after completing an additional 1.7 million fiber ports last year, it said. The total number of its fixed broadband customers reached nearly 3 million in 2021, it added.

Mobile data traffic meanwhile increased by 16% compared to 2020, PLDT said. By the end of 2021, active data users had reached 42.6 million, he added.

Fixed wireless subscribers will hit 1 million by the end of 2021, driven by continued demand for remote work setups, the company said.

Smart launched its Smart Bro Rocket SIM card in the third quarter for subscribers who need shared broadband or power-intensive devices such as laptops, but with the flexibility of wireless connectivity, PLDT said. . This product drove mobile broadband growth in the second half of 2021, the telecom operator added.

In 2021, the telecom company spent 89 billion pesos, the majority of which went to network initiatives, he said. For 2022, it has allocated between 76 and 80 billion pesos for its capital expenditure.

PLDT said it plans to launch PayMaya’s Maya Bank this month. Maya Bank obtained its digital banking license from Bankgo Sentral ng Pilipinas in 2021.

Electronic wallet PayMaya ended the year with 44 million registered customers, PLDT said.

Pangilinan said the company is also monetizing its tower network to improve cash flow and reduce debt.

“If we stay in our true North, I’m optimistic that by 2025 our core profitability will reach even greater heights,” he said.

RELATED VIDEO:

Share.

Comments are closed.