Driven by high-capacity data demand, the enterprise fixed broadband business of network provider PLDT Inc. (PLDT) grew by P3.5 billion or 8% to P47.5 billion in 2022 from P44 billion in 2021.
With the focus on the completion of its data centers (DC), PLDT said it is exploring further opportunities in the cloud business noting that its DCs will be telco-agnostic so it can serve established and emerging hyperscalers.
“ePLDT’s Vitro data center network is also reinforcing its leadership in the local data center industry with the ongoing construction of its PLDT’s 11th Data Center in Sta Rosa, Laguna. Vitro is ready to serve local clients as well as global hyperscalers,” Victor Genuino, president and CEO of ePLDT, said in a statement. “We continue to enhance our competency and capabilities in the cloud and cybersecurity space to better serve the ICT needs of our customers, now and in the future.”
PLDT data center capacity now has a utilization rate of 69%.
The company hopes that its investments in Jupiter, Asia Direct, and Apricot cable systems will help cover diverse industry future requirements for massive data capacity and high-speed connectivity.
The telco giant cut down on its capex from P96.8 billion last year to P80 billion-P85 billion this year.
PLDT’s tower sale and leaseback are in motion as 650 towers located in the Visayas and Mindanao are expected to give the company 9.2 billion. The 1,012 towers located in Luzon will bring over P12.1 billion.
These transactions brought the total number of towers to be monetized via sale and leaseback transactions to over 7,500 for a total cash consideration of more than P98 billion.
Addressing the budget overrun of P48 billion, PLDT said they did not see any traces of fraud, intentional concealment, or bad faith conduct on the part of any employee. It added that they are putting in place measures to avoid similar occurrences in the future.