𝑆𝑡𝑟𝑒𝑛𝑔𝑡ℎ𝑒𝑛𝑠 𝐶𝑎𝑠ℎ 𝐹𝑙𝑜𝑤

PLDT Inc. delivered record service revenues in 2025, driven by sustained growth in data, broadband, and digital financial services, which helped cushion the continued decline in legacy businesses.

In its Full Year 2025 Financial and Operating Results released on February 26, the telco reported gross service revenues of ₱212.2 billion, up 2 percent year-on-year. Net service revenues climbed 1 percent to an all-time high of ₱196.2 billion. Excluding the impact of legacy services, net service revenues grew 3 percent.

Data and broadband revenues reached ₱166.5 billion, accounting for 85 percent of total net service revenues, compared to 84 percent in 2024.

Consolidated EBITDA rose 3 percent, or ₱2.7 billion, to a record ₱111.2 billion, with margins steady at 52 percent.

Capital expenditures dropped to ₱60.3 billion from ₱78.2 billion the previous year, reducing capex intensity to 28 percent. PLDT attributed the decline to tighter capital discipline and improved vendor negotiations.

The company generated positive free cash flow by end-2025, ahead of its 2026 target.

Core income grew 1 percent to ₱34.6 billion, supported by the first full year of profitability of Maya Innovations Holdings. Telco core income declined 3 percent to ₱33.9 billion. Meanwhile, reported net income fell 7 percent to ₱30 billion due to lower non-core gains and higher non-recurring charges.

PLDT’s board approved a final dividend of ₱46 per share, bringing total dividends for 2025 to ₱94 per share, equivalent to 60 percent of telco core earnings per share of ₱157. Reported earnings per share stood at ₱139.

As of end-December, net debt reached ₱284.7 billion, with a net debt-to-EBITDA ratio of 2.56 times. Gross debt stood at ₱296.9 billion, with maturities well distributed. Around 13 percent of gross debt is dollar-denominated, while 5 percent remains unhedged. The company maintained its investment-grade credit ratings from Moody’s and S&P Global.

Chairman and CEO Manuel V. Pangilinan said PLDT regained momentum in the second half of the year following a challenging start.

“Our core business remained stable despite economic headwinds. Disciplined investments strengthened our free cash flow,” Pangilinan said.

Wireless segment remains resilient
The wireless consumer business generated ₱85 billion in revenues, with fourth-quarter revenues rising 4 percent quarter-on-quarter.

Wireless data revenues grew 1 percent to ₱77.2 billion, accounting for 91 percent of wireless consumer revenues. Total data traffic increased 7 percent to 5,914 petabytes, while active data users reached 43.2 million by year-end.

Fixed wireless access revenues surged 22 percent year-on-year, driven by migration from 4G to 5G. The number of 5G devices rose 35 percent to 11.2 million, representing 19 percent of total handsets on the network.

Home broadband reaches new high
PLDT Home revenues increased 3 percent to a record ₱61 billion. Fiber revenues rose 6 percent to ₱59.4 billion, contributing 98 percent of total home revenues.

Fiber net additions nearly doubled to 392,000, bringing total fiber subscribers to 3.76 million. Full-year churn improved to 1.8 percent.

The company expanded bundled offerings such as Fiber Netflix, Cignal, and HBO Max, and rolled out prepaid fiber and smart home packages to strengthen customer engagement.

Enterprise and data center growth accelerates
PLDT Enterprise posted record revenues of ₱48.4 billion, up 1 percent, driven by ICT and digital infrastructure services. Corporate data and ICT revenues rose 3 percent to ₱36.3 billion.

Its data center arm, VITRO Inc., together with ePLDT, generated combined revenues of ₱6.5 billion, up 22 percent.

In April 2025, VITRO launched its AI-ready hyperscale data center in Santa Rosa and later introduced Pilipinas AI, a sovereign AI solutions platform targeting regulated industries.

Maya posts first full-year profit
Maya recorded net income of ₱1.7 billion in 2025, marking its first full year of profitability. Deposits grew 72 percent to ₱68 billion, while cumulative loans disbursed since 2022 reached ₱256 billion. Gross non-performing loan ratio stood at 6.1 percent.

Maya expanded partnerships with Cebuana Lhuillier and Philippine Airlines, and strengthened collaborations with government agencies.

Sustainability and cybersecurity gains
PLDT secured a spot in the S&P Global Sustainability Yearbook for the second consecutive year and earned a “B” rating from CDP for its climate and water disclosures.

The group also stepped up cybersecurity efforts, blocking 210 billion attempts to access malicious domains in 2025 and disabling 800,000 mobile numbers linked to scams.

PLDT said it will continue investing in fiber, 5G, and AI-enabled services as it builds what Pangilinan described as a “healthier business for the long term.”