Q2 2024 PLDT Inc Earnings Call Transcript
Key Points
- Consolidated service revenues for the first half of 2024 reached PHP96.9 billion, a 3% increase from the previous year.
- EBITDA rose by 3% to PHP53.9 billion, achieving a semestral high with an EBITDA margin of 52%.
- The individual business segment saw a 4% growth in revenues to PHP41.9 billion, driven by an 8% increase in mobile data revenues.
- Fiber-only revenues in the home segment grew by 7%, despite a marginal overall decline in home revenues.
- Maya Bank turned cash flow positive in Q2 2024 and is on track to achieve bottom-line breakeven by the last quarter of the year.
- Operating expenses grew marginally by 1% to PHP43 billion, indicating cost pressures.
- Home revenues were marginally lower by 1% year-on-year, impacted by declines in legacy businesses.
- Mobile revenue growth slowed in Q2 compared to Q1, attributed to limited customer mobility and high temperatures.
- The enterprise segment faced a slowdown due to cautious IT and data transformation decisions by customers.
- Gross debt stood at PHP265.4 billion, with 15% dollar-denominated and 5% unhedged, posing currency risk.
Good afternoon and thank you for joining us today to discuss the company's financial and operating results for the first half of 2024. A copy of today's presentation is posted on our website. For those who have not been able to do so, you may download the presentation from www.pldt.com under the Investor Relations Center.
Kindly note that this briefing is being recorded. A podcast of the event will be available on our website after the call. The QR code for the presentation is on the screen and in the confirmation notices emailed to you.
For today's presentation, we have with us our Chairman and CEO, Mr. Manny Pangilinan; Mr. Danny Yu, our Chief Financial Officer and Chief Risk Management Officer; Atty. Marilyn Aquino, our Corporate Secretary and Chief Legal Counsel; as well as the business unit heads led by Mr. Jeremiah de la Cruz of Home; Mr. Jojo Hendrano of Enterprise; Ms. Kristine Go for the Individual Business
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