PLDT Inc. reported Gross Service Revenues growth of 3% to ₱158.9 billion, while Consolidated Service Revenues (net of interconnect costs) was up by 1% to ₱145.9 billion in the first nine months of 2025.
Growth in data and broadband continued to offset legacy declines, driving stable earnings and margins. Data and broadband, which were at ₱123.6 billion, accounted for 85% of Consolidated Service Revenues vs 83% last year. Excluding the legacy drag, Consolidated Service Revenues rose by 3%.
Consolidated EBITDA grew by 3%, or ₱2.1 billion to ₱82.8 billion in the same period. EBITDA margin remained steady at 52%.
Telco Core Income, which excludes the impact of asset sales and gains from Maya Innovations Holdings, declined by 5% to ₱25.3 billion.
Overall, Core Income remained steady at ₱25.8 billion, as PLDT’s ₱603 million equity share in Maya’s core income offset the lower Telco Core. Reported Income for the first nine months of 2025 was at ₱25.1 billion due to lower non-core gains and higher non-recurring charges.
Capital expenditures for the first nine months of 2025 amounted to ₱43.0 billion, compared with ₱52.3 billion in the same period last year, bringing capex intensity down to 27%. The decline reflects continued capex discipline and the benefit of favorable vendor negotiations.
Notably, PLDT hit positive free cash flows as of September 2025, ahead of its forecasted 2026 target.
“In a year of market pressures and economic slowdown, we’ve managed to stand firm. The challenge now is to stand taller—to deliver growth that reflects not only effort, but excellence,” said Manuel V Pangilinan, PLDT and Smart Chairman and CEO.
Consolidated Net Debt as of end-September 2025 amounted to ₱289.0 billion, while Net Debt-to-EBITDA stood at 2.61x. Gross Debt was at ₱299.4 billion, with maturities well spread out. 13% of Gross Debt is denominated in U.S. dollars while 5% of total debt is
unhedged. PLDT’s credit ratings from Moody’s and S&P Global remain at investment grade.
