PLDT Enterprise, the corporate division of telecommunications company PLDT, posted net service revenues of ₱48.4 billion in 2024, showing strong demand for connectivity and information and communications technology (ICT) services.
“Key growth areas include managed IT services, which increased by 48%; cloud solutions, up by 30%; and data center colocation, which rose by 22%,” said Danny Yu, chief financial officer of PLDT, during the company’s 2024 Full Year Financial and Operating Results briefing. “VITRO continued to lead the industry with VITRO Santa Rosa.”
The company saw a 23% increase in Managed Software-Defined Wide Area Network (SD-WAN) lines and a 9% rise in fiber internet lines. Wireless services also performed well, with Internet of Things (IoT) service revenues growing by 313%.
PLDT’s cloud technology services remained a key growth driver. ePLDT, the company’s ICT subsidiary, recorded a 30% increase in cloud services revenue, while managed IT services grew by 48%. The demand for scalable and secure digital solutions fueled these gains.
VITRO Inc., PLDT’s data center arm, reported a 22% revenue increase in colocation services, driven by enterprise and cloud provider demand.
“The country’s first and only AI-ready data center was recently energized,” Yu said. “It has already secured tenants. Our focus is to expand our enterprise digital ecosystem, accelerate cloud adoption, and reinforce PLDT’s leadership in the ICT space.”
Overall growth
The company’s consolidated service revenues, excluding interconnect costs, increased by 2% (₱3.3 billion) to ₱194.7 billion in 2024. Data and broadband services, which grew by 3% (₱4.5 billion) to ₱162.1 billion, contributed 83% of total service revenues.
PLDT’s individual wireless segment posted revenues of ₱83.5 billion, a 2% increase from 2023. Fourth-quarter revenues reached ₱21.4 billion, the highest since the third quarter of 2021. Data revenues grew by 5% to ₱74.4 billion, accounting for 89% of the segment’s earnings.
PLDT Home generated ₱56 billion in fiber-only service revenues, marking a 6% year-on-year growth. Fiber-only services now account for 92% of PLDT Home’s total ₱60.7 billion revenue. The company recorded an average revenue per user (ARPU) of ₱1,488, with over 75% of new subscribers choosing higher-value plans of ₱1,299 and above.
PLDT also announced plans to lower capital expenditures this year while maintaining investments in network expansion, AI, and data centers. The company aims for a positive free cash flow by 2026.