PLDT sets 2022 capex budget

PLDT Inc. has firmed up its capital expenditures (capex) program for 2022, allotting P85 billion to support the additional requirements for its home and enterprise businesses, as well as for its contractual obligations for the sale of its tower assets.

During a press briefing on Thursday, PLDT Chairman Manuel V. Pangilinan said the group is “raising the capex guidance from ‘between P76 billion to P80 billion’ to P85 billion.”

The figure will be used to “support the updated requirements for growth in demand for home broadband and data center businesses, and additional upgrades of the towers or passive infrastructure assets subject to tower sale and leaseback transaction.”

The company allotted P89 billion in capital outlays last year.

During the same briefing, officials reported that PLDT booked a 56-percent growth in reported net income in the first quarter of the year to P9.1 billion, while reporting a telco core income of P8.2 billion.

Its revenues reached P46.4 billion, an increase of 3 percent to P46.5 billion led by its Home and Enterprise verticals. For 2022, PLDT expects to book P33 billion in telco core income with its revenue guidance at “mid single-digit” growth.

“We’re moving in lockstep with our customers’ shifting needs as Covid-19 restrictions ease. Our superior, reliable integrated network continues to sustain hybrid work and learning set-ups, keep loved ones connected online, deliver entertainment content, as well as support businesses and e-commerce,” said Alfredo S. Panlilio, PLDT and Smart president and CEO.

With the projected increase in demand from global hyperscalers, PLDT Inc. announced last October 2021 its plan to build the “biggest data center” in the Philippines.

PLDT VP Nico Alcoseba said the company is “set to build” a data center that is designed to serve the “massive power and IT requirements of global hyperscalers.”