PL PLDT DT Inc. 2017 First Quarter Financial and Operating Results 12 th May 2017 1
PLDT T Grou oup: p: 1Q17 vs 1Q16 Fina nanci ncial al High ghlights lights Wireless Fixed Line Conso Service Revenues Service Revenues* Service Revenues* (net of interconnection costs: P2.1bn) P20.8bn P16.9bn -7% -16% P35.6bn +10% (P2.6bn) (P3.9bn) +P1.5bn Enterprise* Home* Individual* International* Voyager* Conso Service Revenues Conso Service Revenues Conso Service Revenues Conso Service Revenues Conso Service Revenues P8.5bn P7.8bn P14.7bn P4.2bn P0.3bn +13% -18% -24% +132% +12% +P1.0bn (P3.2bn) (P1.3bn) +P0.2bn +P0.8bn Cash Opex* Subsidies and Provisions -1% -52% P16.6bn P2.2bn (P0.2bn) (P2.4bn) EBITDA EBITDA Margin -1% 44% P16.5bn (P0.1bn) (1Q16: 41%) Core Income (recurring**) -26% P5.3bn (P1.9bn) * Net of interconnection costs ** Excluding gain from asset sales and EBITDA adjustments in 1Q16; no adjustments in 1Q17 2
PLDT T Grou oup: p: 1Q17 vs 4Q16 Fina nanci ncial al High ghlights lights Wireless Fixed Line Conso Service Revenues Service Revenues* Service Revenues* (net of interconnection costs: P2.1bn) P20.8bn P16.9bn -1% -4% P35.6bn +4% (P0.2bn) (P0.8bn) +P0.7bn Enterprise* Home* Individual* International* Voyager* Conso Service Revenues Conso Service Revenues Conso Service Revenues Conso Service Revenues Conso Service Revenues P8.5bn P7.8bn P14.7bn P4.2bn P0.3bn +7% -2% -12% +3% +2% +P0.6bn (P0.4bn) (P0.6bn) +P9mn +P0.2bn Cash Opex* Subsidies and Provisions + 1%** -39% P16.6bn P2.2bn P0.1bn (P1.4bn) EBITDA EBITDA Margin +7% 44% P16.5bn +P1.0bn (4Q16: 40%) Core Income (recurring***) 46% P5.3bn +P1.7bn * Net of interconnection costs ** Mainly in compensation and benefits expenses *** Excluding gain from asset sales, deferred tax asset recognition, and accelerated depreciation; no adjustments in 1Q17 3
PLDT Group: up: Conso soli lida dated ed Financia nancial l Highlig hlights hts (Php in billions) EBITDA and EBITDA Margin Service Revenues, net of interconnection costs -1% -7% Three quarters of -0.1 -2.6 Negative sequential improvement in momentum of -1% +7% EBITDA top line 38.2 37.6 +1.0 arrested in 36.1 35.8 -0.2 35.6 16.5 16.6 15.4 15.0 1Q17 on track vis- 14.2 1Q17 à-vis guidance 1Q17 on track vis-à-vis 1Q16 2Q16 3Q16 4Q16 1Q17 guidance EBITDA Margin 1Q16 2Q16 3Q16 4Q16 1Q17 41% 35% 39% 40% 44% Core Income (recurring) Reported Net Income -26% -20% -1.9 -1.3 20.2 +20% 6.2 6.2 -+46% +0.8 5.0 7.2 4.5 4.1 +1.7 5.3 3.4 4.8 3.6 * * * 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17 *Rocket Internet impairment: 1Q16 – P1.6bn; 2Q16 – P3.8bn; 1Q17 – P0.5bn * Excluding asset sales, EBITDA adjustments, deferred tax asset recognition and accelerated depreciation 4
PLDT T Grou oup: p: Service ice Revenues ues (by Busine iness ss Unit) it) Home Enterprise (Php in billions) Service Revenues (net of interconnection costs) Service Revenues (net of interconnection costs) +12% +13% +0.8 +1.0 +7% +2% +1% +1% +2% +1% 7.8 +3% +0.2 +0.6 8.5 7.9 7.6 -- +0.3 7.6 7.5 7.6 +0.2 +0.1 +4% 7.5 +0.2 7.2 +0.3 7.0 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17 Individual Service Revenues (net of interconnection costs) -18% -3.2 -9% -3% -5% -2% 18.0 17.4 -1.6 -0.5 -0.7 15.8 15.1 -0.4 14.7 1Q16 2Q16 3Q16 4Q16 1Q17 5
PLDT Group: up: Cons nsol olid idated ted Service vice Reven enues* ues* By Business Units (Php in billions) Service Revenue Mix 1Q16 1Q17 Individual 47% 41% +0.2 -2.6 Home 18% 22% -1.3 46% +111% -7% Enterprise 20% 24% -24% +1.0 35.6 International & Carrier 15% 12% +13% 0.4 4.2 Voyager and Others 0% 1% +0.8 8.5 +12% (3.2) Service Revenues (Php in millions) 1Q16 1Q17 7.8 -18% Individual 17,984 14,749 14.7 Home 6,965 7,794 Enterprise 7,497 8,469 International & Carrier 5,542 4,230 Voyager and Others 174 368 Individual Home Enterprise International Voyager Total 38,162 35,610 1Q17 & Carrier And Others Home and Enterprise businesses grew double-digit year-on-year at 12% and 13%, respectively Combined Home and Enterprise revenues now represent 46% of consolidated service revenues, greater than the 41% contribution of the Individual business Data/broadband continue to underpin the growth of the Home, Enterprise and Individual businesses, accounting for 61%, 66%, and 37% of 1Q17 revenues Home data and broadband revenues were up by 16% to P4.8bn Enterprise data and broadband revenues rose by 24% to P1.1bn * Net of interconnection costs 6
PLDT Group: up: Cons nsol olid idated ted Service vice Reven enues* ues* By Product type (Php in billions) Service Revenue Mix 1Q16 1Q17 Data/Broadband/Digital Platforms 38% 45% Lower by P2.6bn or 7% SMS 20% 16% LEC/Mobile Domestic Voice/Others 32% 30% LEC, mobile Intl Voice/Fixed Line Domestic Voice 10% 9% International Data, broadband domestic voice and fixed and digital voice and SMS line domestic Service Revenue Mix 1Q16 1Q17 platforms others voice Data/Broadband/Digital Platforms 14,508 16,163 -1.7 +1.7 -1.7 -0.8 38.2 -23% SMS 7,514 5,813 +11% 35.6 -14% -21% LEC/Mobile Domestic Voice/Others 12,328 10,608 Intl Voice/Fixed Line Domestic Voice 3,812 3,026 Total 38,162 35,610 1Q16 1Q17 Data/broadband revenues of P15.9bn represent 44% of 1Q17 consolidated service revenues* Data/broadband account for 62% of Fixed Line and 33% of Wireless service revenues* Mobile internet revenues grew by 20% year-on-year to P4.6bn Corporate data and data center revenues increased by 17% to P4.9bn Home broadband revenues rose by 15% to P4.7bn Fixed home broadband up by 19% to P4.1bn * Net of interconnection costs 7
PLDT Group: up: Cons nsol olid idated ted Service vice Reven enues* ues* By Business Units (Php in billions) Lower by P0.2bn or 1% Service Revenue Mix 4Q16 1Q17 Individual 42% 41% -- -0.2 Home 21% 22% -0.6 46% -1% +2% -12% Enterprise 22% 24% +0.6 35.6 +7% 0.4 4.2 International & Carrier 14% 12% +0.2 8.5 Voyager and Others 1% 1% +2% (0.4) Service Revenue Mix 4Q16 1Q17 7.8 -2% Individual 15,100 14,749 14.7 Home 7,644 7,794 Enterprise 7,893 8,469 International & Carrier 4,810 4,230 Voyager and Others 360 368 Total 35,807 35,610 Individual Home Enterprise International Voyager 1Q17 & Carrier And Others By Product type (Php in billions) Service Revenue Mix 4Q16 1Q17 Data/Broadband/Digital Platforms 44% 45% SMS 18% 16% LEC, mobile International Data, broadband LEC/Mobile Domestic Voice/Others 29% 30% domestic voice and fixed and digital Intl Voice/Fixed Line Domestic Voice 9% 9% voice and SMS line domestic platforms others voice -0.6 +0.5 Service Revenues (Php in millions) 4Q16 1Q17 +0.2 -0.3 35.8 -9% +3% 35.6 +1% -8% Data/Broadband/Digital Platforms 15,641 16,163 SMS 6,418 5,813 LEC/Mobile Domestic Voice/Others 10,457 10,608 International Voice/Fixed Line Domestic 3,291 3,026 Total 35,807 35,610 4Q16 1Q17 8 * Net of interconnection costs
PLDT Group: up: Conso soli lida dated ed EBITD TDA (Php in billions) Higher by P1.0bn or 7% +7% +6% +3% -15% +0.8 +1.0 +0.5 -2.5 Higher 16.6 16.5 Lower Lower 15.4 Lower cash 15.0 svc sub- 14.2 provns opex* rev* sidies 16.5 +1.4 15.4 -0.1 -0.2 -- 1Q2016 2Q2016 3Q2016 4Q2016 1Q2017 4Q16 1Q17 Margins 41% 35% 39% 40% 44% Margins 40% 44% * Net of interconnection costs EBITDA for 1Q17 was lower by P0.1bn or 1% at P16.5bn vis-à-vis 1Q16 but higher by 7% or P1.0bn quarter-on- quarter Consolidated EBITDA registered three quarters of sequential improvements starting from 2Q16 Primarily due to lower provisions (P2.3bn) and lower subsidies (P1.9bn), management efforts to operate more efficiently resulting in lower costs (P0.7bn) fully absorbing the decline in service revenues (P2.3bn) and increase in the cost of content (P0.2bn) Consolidated EBITDA margin for 1Q17 at 44% vs 41% in 1Q16 and 40% in 4Q16 Wireless: 37% (vs 1Q16: 36%; 4Q16: 35%; FY16: 32%) Fixed Line: 43% (vs 1Q16: 39%; 4Q16: 37%; FY16: 39%) EBITDA guidance for 2017 of P70bn anticipates a “back - ended recovery” 9
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