PLDT Inc. believes its home and enterprise verticals will continue to drive the company’s growth beyond 2021, as it expects to ride on the persisting effects of the pandemic as well as the rising demand for solutions from so-called hyperscalers.
Manuel V. Pangilinan, the company’s chairman, said the group expects both business segments to “figure as major revenue growth drivers” for the company in the next three years.
“There will be a big push in the coming two to three years,” he said.
Alfredo S. Panlilio, the company’s president, said PLDT will be capitalizing on its dominant position for both the home and enterprise segments to see this projected growth.
“We will continue to ride on that dominant position,” he said.
PLDT’s home broadband business was its fastest growing segment for January to September, with total revenues reaching P35.3 billion, a 25-percent increase from the year prior.
The growth is attributable to the steady demand for broadband connectivity in the country, as Filipinos continued to work and study at home.
The enterprise business booked P31.1 billion in revenues, representing a 2-percent increase. The group, however, is banking on the demand from global hyperscalers for data center services.
As such, PLDT is investing P5 billion to develop a data center that will dwarf its 10 existing data centers even when they are combined.
The amount will be spent within the next three years.
PLDT recorded a telco core income of P23.1 billion in January to September, a 10-percent increase from P21 billion the year prior.
Its total revenues rose by 8 percent to P143.9 billion from P133.2 billion, while expenses grew at a much faster pace at 14 percent to P113 billion from P99.5 billion.
“We’re looking at P30 billion, at least, in core income for the full year of 2021. Capital expenditures are also expected to land at the lower end of the P88 billion to P92 billion guidance,” Pangilinan said.
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