PLDT 2010 First Half Results
Consolidated net income up 10% to P21.7 billion
Service revenues decline by 1%
PLDT Chairman Manuel V. Pangilinan, 2nd from left, answers questions from the press during the PLDT 2010 first half financial and operating results press briefing held in Makati earlier today. With him are, from left, PLDT SVP and Treasurer Anabelle L. Chua, PLDT President and CEO Napoleon L. Nazareno, and PLDT Director Ray C. Espinosa.
PLDT today announced its unaudited financial and operating results for the first six (6) months of 2010 with consolidated Reported Net Income increasing by 10% to P21.7 billion, from the P19.7 billion recorded in the same period last year.
Core Net Income for the first half of 2010, net of exceptional items, rose 2% to P21.2 billion, from P20.8 billion in the same period in 2009. This year’s results reflect higher recurring net income and a net gain from foreign exchange revaluation of our financial assets and liabilities and derivatives compared to a net loss last year.
Consolidated service revenues declined 1% year-on-year to P72.2 billion. Wireless service revenues were stable at P47.9 billion, while fixed line service revenues were down 1% to P25.2 billion. ePLDT service revenues improved 1% to P5.3 billion.
Cellular subscriber base also reached 45.3 million, with net subscriber additions of 4 million for the first half which is 22% higher year-on-year. Total broadband subscribers reached 1.96 million, with wireless alone over 1.32 million.
The aggregate revenue contribution from broadband and internet services reached P8.0 billion for 1H2010, 21% higher than last year.
Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) was at P43.3 billion, while consolidated EBITDA margin was at 60% of service revenues, similar to the margin last year.
Core EPS (earnings per share) was at P112.39. An interim regular dividend of P78 per share was also declared.
Reporters ask MVP more questions as he goes out of the room after the press briefing.