PL PLDT DT Inc. 2017 First Half Financial and Operating Results 10 th August 2017 1
PLDT T Grou oup: p: 1H17 vs vs 1H16 Finan nancia cial l High ghlig ights ts Enterprise* Home* Individual* International* Voyager* Conso Service Revenues Conso Service Revenues Conso Service Revenues Conso Service Revenues Conso Service Revenues P15.8bn P16.8bn P29.6bn P8.3bn P0.6bn +12% +11% -16% -23% +234% +P1.6bn +P1.7bn (P5.8bn) (P2.5bn) +P0.4bn Wireless Fixed Line Conso Service Revenues Service Revenues* Service Revenues* (net of interconnection costs: P4.2bn) P41.4bn P34.2bn -6% P71.2bn -15% +11% (P7.3bn) +P3.3bn (P4.5bn) Cash Opex Subsidies and Provisions Incl P1.5bn MRP Ex-MRP -65% P3.8bn +3% -2% P34.9bn P33.3bn (P7.2bn) +P1.0bn (P0.6bn) EBITDA EBITDA Margin Incl P1.5bn MRP Ex-MRP Incl P1.5bn MRP Ex-MRP 42% 44% +4% +9% P32.0bn P33.5bn (1H16: 38%) +P1.3bn +P2.8bn EBITDA (Wireless) EBITDA (Fixed Line) Incl P1.5bn MRP Ex-MRP Ex-MRP +1% P17.1bn P15.7bn P14.2bn +8% +19% 44% +P0.2bn Margin: 38% Margin: 38% Margin: 43% +P1.0bn +P2.5bn Core Income Recurring** -2% P17.4bn +1% P11.9bn (P0.3bn) +P0.1bn * Net of interconnection costs ** Excluding MRP expense, gain from asset sales and EBITDA adjustments 2
PLDT Group: up: 2Q17 7 vs 1Q17 7 Financia nancial l Highl hlig ights hts (Php in billions) Service Revenues* EBITDA and Margin Net Income 35.6 35.6 +4% ILD/NLD: -2% -6% 3.0 3.0 17.1 +3% 12.1 15.5 16.5 +127% 7.8 8.0 Ex-ILD/NLD: 5.3 32.6 32.7 0% 1Q17 2Q17 1Q17 2Q17 1Q17 2Q17 2Q17 1Q17 2Q17 Consolidated ex-MRP Home Core 44% 41% 45% +2% +1% 17.3 16.9 +23% 7.9 -2% 7.8 1.3 ILD/NLD: -2% -18% 1.3 6.6 8.5 8.3 5.3 6.4 16.0 15.6 Ex-ILD/NLD: +3% 1Q17 2Q17 1Q17 2Q17 1Q17 2Q17 2Q17 1Q17 2Q17 ex-MRP Fixed Line Enterprise Core (Recurring) Fixed Line 43% 34% 42% -1% 11.6 20.8 20.6 +1% 1.7 1.7 ILD: -2% +5% 14.9 14.7 +134% 8.8 8.3 5.0 19.0 18.9 Ex-ILD: -1% 1Q17 2Q17 1Q17 2Q17 1Q17 2Q17 1Q17 2Q17 Wireless Reported Wireless Individual 37% 39% 3 * Net of interconnection costs
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 +4% 5% -1% +10% -2.0 +0.6 Excluding +1.4 P1.5bn MRP Stemming 1% 1% 1% expenses in 4% 6% the negative -0.6 -0.3 -0.2 2Q17, -1.5 38.2 37.6 16.6 16.5 -0.9 36.1 momentum 15.5 17.1 EBITDA 35.6 35.8 35.6 15.4 15.0 14.2 3.8 3.6 -6% would be 3.4 3.3 3.0 3.0 -5% -4% -8% -2% higher by 4% q-o-q or P0.6bn at 34.4 -1% 34.0 32.6 32.5 32.6 32.7 --- -4% --- 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 2Q17 --- P17.1bn ex-ILD/NLD ex-MRP ILD/NLD EBITDA Margin 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 41% 35% 39% 40% 44% 41% 45% Core Net Income Core Income (recurring) +15% +44% 2Q17 core +1.6 +2.0 income 12.1 higher 10.5 +127% than the +46% +23% +6.8 7.2 four +1.7 +1.2 7.2 6.1 6.6 5.3 previous 5.3 4.0 4.8 quarters 4.5 3.6 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 * Excluding asset sales, EBITDA adjustments, deferred tax asset recognition and 2Q17 core income higher than the last five quarters accelerated depreciation 4
PLDT T Grou oup: p: Fixed ed and Wirele eless ss Finan nancia cial l High ghlig ights ts Fixed Wireless (Php in billions) Service Revenues (net of interconnection costs) Service Revenues (net of interconnection costs) Ex-ILD 14% +12% ILD/NLD Ex-ILD/NLD ILD -3.4 +1.8 +2% 2% 7% 3% 1% 4% +2% +2% +4% 24.7 24.0 16.9 22.3 17.3 21.6 15.4 15.5 15.9 16.3 +0.4 20.8 20.6 -0.1 2.2 -6% 2.1 1.3 1.3 -2% -8% -3% -9% 1.9 1.4 -- +1% 1.5 1.9 1.7 1.6 1.5 1.7 -5% -10% -2% +5% +3% +3% +4% +1% 22.4 -2% 21.9 -7% -3% 20.3 -3% -1% 16.0 19.6 19.0 18.9 15.6 14.9 14.4 13.9 14.0 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Ave.Daily Rev (mns): P270.9 P264.2 P242.1 P234.6 P230.7 P226.6 2% 2% 2% 8% 3% EBITDA and EBITDA Margin EBITDA and EBITDA Margin +21% 3% +1% +0.1 +1.5 -0.2 +5% 18% 7.8 9.6 7.9 8.8 +0.4 -1.4 7.1 8.3 8.4 6.6 6.6 7.4 6.5 6.4 7.3 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 2Q17 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 ex-MRP EBITDA Margin EBITDA Margin 39% 39% 42% 37% 43% 34% 42% 36% 28% 31% 35% 37% 39% Excluding 2Q17 MRP of P1.5bn, 2Q17 EBITDA of P7.9bn higher quarter- 1H17 EBITDA margin of 38% was higher than the 32% in FY16 on-quarter by 1% or P0.1bn; margin of 42% 5
PLDT T Grou oup: p: Service ice Revenues ues (by Busine iness ss Unit) it) Home Enterprise (Php in billions) * 2017 quarterly average of P8.4bn +11% +10% * 2Q17 a 10% y-o-y +0.8 increase +0.7 8.5 -2% 8.3 - +7% - +3% 8.0 -0.2 - +2% +0.2 - +3% 7.9 +0.6 +2% 7.8 - +1% - +1% +3% +0.2 +0.3 7.6 +3% 7.6 +0.2 +0.1 -- 7.6 7.5 7.5 +4% +0.2 7.2 +0.3 7.0 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Individual -15% -2.6 • Improvement in -3% momentum over three 18.0 -9% 17.4 -5% consecutive quarters -0.5 - +1% 15.8 -2% -1.6 14.7 15.1 14.9 -0.7 +0.1 -0.4 * Average daily top ups have remained steady from 4Q16 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Avg Daily Top-up: 197.6 191.7 172.2 164.1 163.9 163.3 -- -- -3% -5% -10% 6
PLDT Group: up: Cons nsol olid idated ted Service vice Reven enues* ues* By Business Units (Php in billions) -4.5 -2.5 +0.4 -6% +1.7 -23% +149% +11% 71.2 0.7 Service Revenue Mix 1H16 1H17 8.3 Individual 47% 41% 16.8 +1.6 Home 19% 22% +12% 46% Enterprise 20% 24% 15.8 -5.8 International and Carrier 14% 12% -16% Voyager and Others 0% 1% 29.6 Service Revenues (Php in millions) 1H16 1H17 Individual 35,426 29,610 Home 14,194 15,827 Enterprise 15,091 16,788 International and Carrier 10,760 8,259 Individual Home Enterprise Intl Voyager 1H17 Voyager and Others 299 746 and and Total 75,770 71,230 Carrier Others Combined Home and Enterprise revenues account for 46% of total service revenues, greater than the 41% contribution from the Individual segment Revenues in 1H17 rose 12% and 11% year-on-year, respectively Data and broadband remain the growth drivers of the Home, Enterprise and Individual segments representing 62%, 65% and 38% of total service revenues, respectively 7
PLDT Group: up: Cons nsol olid idated ted Service vice Reven enues* ues* By Product type (Php in billions) Service Revenue Mix 1H16 1H17 Data/Broadband/Digital Platforms 39% 46% Lower by P4.5bn or 6% SMS 20% 16% LEC/Mobile Domestic Voice/Others 31% 30% LEC, mobile International Voice/Fixed Line Domestic voice 10% 8% International Data, broadband domestic voice and fixed and digital voice and line domestic SMS platforms Service Revenues (Php in millions) 1H16 1H17 others voice -3.7 Data/Broadband/Digital Platforms 29,472 32,631 +3.2** -2.5 -1.4 75.8 -25% +11% 71.2 SMS 15,001 11,258 -11% -19% LEC/Mobile Domestic Voice/Others 23,900 21,363 International Voice/Fixed Line Domestic voice 7,397 5,978 ** Includes growth in: Total 75,770 71,230 -- Data/broadband by P2.7bn or 9% -- Digital platforms by P0.4bn or 234% 1H16 1H17 Revenues from data, broadband and digital platforms grew by P3.2bn or 11% year-on-year to P32.6bn and account for 46% -- the largest portion -- of PLDT’s 1H17 consolidated service revenues Mobile internet revenues were higher by 18% at P9.6bn Corporate data and data center revenues grew by 15% to P9.7bn Home broadband revenues increased by 15% to P9.6bn Fixed home broadband rose by 19% to P8.4bn Data/broadband represent 63% of Fixed Line* and 34% of Wireless service revenues*, from 59% and 29%, respectively, in 1H16 * Net of interconnection costs 8
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