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PLDT, Inc.
First Quarter 2016
Financial and Operating Results
Tuesday, 3rd May 2016
The PLDT Group is uniquely positioned to provide the CUSTOMER a total digital
experience by leveraging on the breadth of our fixed and wireless network infrastructure,
products and services, including new business models in the e-commerce/big data space
P42.8bn
+1%
P0.2bn
Service Revenues
Service Revenues
0%
P40.6bn
P0.1bn
+3%
P36.2bn
P0.9bn
(net of interconnect)
P38.2bn
Wireless (ex-ILD)
Service Revenues
Service Revenues
P24.4bn
-2%
(P0.5bn)
EBITDA
P16.6bn
P13.9bn
+10%
P1.2bn
EBITDA Margin
-14%
41%
(P2.7bn)
P6.2bn
1%
P0.2bn
-34%
(P3.2bn)
(FY15: 43%)
P7.2bn
-22%
(P2.1bn)
Consumer
Home Q1 Headlines
2x Total Revenue Growth
5th Year of Consecutive Growth
Unmatched Digital
Services
Q1 2016 vs Q1 2015
+10.3%
+16%
Q1 2015 vs Q1 2014
+5%
+10%
+66%
Vs. Q1 2015
Consumer
Mobile Q1 Headlines
Ramped Up Broadband
Growth
Powered by partnerships on content and
digital services
+83%
+38%
+14%
Increase in Incremental
revenue
Vs. Q1 2015
Vs. Q1 2015
Consumer
Out of
home
Home
Entertainment Everywhere
Peace of Mind Everywhere
Convenience Everywhere
Productivity Everywhere
Enterprise:
Robust Core Business with Surging IT & Global Services
Service Revenues (net of intercompany transactions)
In PhP Billions
Q1 2015
Q1 2016
GROWTH
Fixed/ICT
5.87
6.44
10%
Wireless
0.97
1.11
15%
6.84
7.55
10%
TOTAL
0.57
0.14
0.71
Fixed revenues were driven by the data business which grew 15% to offset expected
declines in voice services
IT Services, which include Data Center, Big Data, Cloud, and other Managed ICT
Services, surged 30% due to pervasive thought leadership programs as well as
increased customer coverage
Wireless revenue growth of 14% outperformed the market with the solutions business,
which includes Machine-to-Machine (M2M) services, increasing 73%
7
VOYAGER:
Breakthrough Digital Services Hit Critical Mass and Early Monetization
PLDTs Digital Innovation arm -- Voyager -- has successfully launched two Digital
Services which have achieved critical mass
Pay Maya
FINTQ
Prepaid Mobile
Wallet
Consumer Loans
Marketplace
Mobile Money
Transfer
Mobile Lending
Platform as a Service
(PaaS)
Service Updates
Service Updates
Digital G2P and D2P
disbursements, and
monitoring and evaluation
(M&E ) platform
Service Updates
PH s first micro-insurance and micro-savings initiative
To cover 10 pilot public schools, approx 30k students
Signed with Sun Life Financial in Barcelona
Aligned with the BSP National Strategy for Financial
Inclusion
vs Y-o-Y:
+3% or P0.9bn
Consolidated
+1%
+1%
35.3
+0.3
36.2
36.2
+0.5
2Q15
3Q15
4Q15
1Q16
32%
68%
34%
66%
36%
64%
36%
64%
38%
62%
Wireless
Fixed Line*
vs Y-o-Y:
-2% or (P0.5bn)
25.0
-0.1
24.9
-0.6
+2%
24.4
2Q15
3Q15
4Q15
1Q16
20%
22%
24%
24%
25%
78%
76%
76%
75%
SMS/Domestic Voice
80%
+3%
+2%
+2%
+0.2
1Q15
vs Y-o-Y:
+10% or P1.2bn
-2%
+1%
+0.1
24.9
+0.2
1Q15
Service Revenues Mix:
Data/broadband
SMS/Domestic Voice
24.9
35.6
36.0
+0.3
13.2
+0.4
13.6
+0.3
13.9
12.6
12.9
1Q15
2Q15
3Q15
4Q15
1Q16
64%
65%
65%
66%
36%
35%
35%
34%
64%
Domestic Voice
36%
10
Increase of P0.1bn
Data, broadband and
digital platforms
40.5
+2.4
(1.5)
+21%
-6%
(0.8)
-16%
1Q 2015
1Q16
34%
55%
11%
1Q 2016
By Business Units
+0.1
-12%
+10%
-0.9
+0.7
6.3
+1%
+0.4
40.6
1Q15
28%
59%
13%
40.6
0.1
7.6
26.6
Consumer
Enterprise
International
& Carrier
Voyager
1Q 2016
11
Consumer
Higher by P0.4bn or 1%
Mobile
Internet
+32%
Fixed
Line
Data
Wireless
Broadband
Fixed
Line
Voice
Wireless
Voice
+18%
+4%
-6%
+0.4
+0.1
-0.5
+19%
+0.6
+0.7
1Q15
28%
39%
31%
1Q16
34%
37%
27%
1Q15
53%
42%
2%
1Q16
58%
37%
3%
SMS
-10%
-0.8
26.2
Others
-0.2
26.6
1Q2016
1Q2015
Enterprise
Fixed
Line
Data
+17%
Mobile
Internet
+0.2
Others
+0.1
SMS
-
Wireless
Voice
-0.1
Fixed
Line
Voice
-0.1
7.6
+0.6
6.8
Data: +0.8 or 21%
1Q2015
1Q2016
12
CONSUMER
26.2
26.6
26.3
+0.3
+0.2
0%
+1%
+1%
19.6 -0.1
19.5
+0.2
-1%
+0.1
6.7
26.8
--
+0.1
6.9
+0.1
6.8
+0.1
1%
+2%
2Q15
3Q15
Home
26.6
-1%
19.8
0%
+1%
+2%
1Q15
19.7
-0.2
Y-o-Y:
+1% or P0.4bn
-0.3
19.5
Y-o-Y:
-1% or (P0.1bn)
7.1
Y-o-Y:
+7% or P0.5bn
-2%
+0.1
7.0
+2%
4Q15
1Q16
Individual
ENTERPRISE
vs Y-o-Y:
+10% or P0.7bn
6.8
+0.2
7.0
+2%
1Q15
+0.2
7.2
+3%
2Q15
3Q15
-0%
7.2
4Q15
+0.3
+4%
7.6
1Q16
Enterprise
13
Revenues
Wireless Broadband
Fixed Broadband
Mobile Internet
Corp. Data
Q-o-Q
+11%
+22%
+1.1
11.2
+2.5
2.3
1.9
+15%
2.6
+19%
2.2
+38%
3.5
+10%
3.8
2.4
+2%
2.5
10.1
1Q14
Mobile Internet
Mobile internet revenues, or 23% of total data/broadband
revenues, grew year-on-year by P0.9bn or 38% to P3.1bn
1Q15
+6%
13.7
+0.8
3.2
+12%
3.1
+12%
+16%
4.4
+4%
+17%
2.9
--
+24%
1Q16
Fixed Broadband
Fixed broadband revenues or 32% of total data/broadband
revenues were higher year-on-year by 16% or P0.6bn at P4.4bn
Fixed broadband subscribers grew to about 1.3mn, with net adds of
over 157,000 or 14% from last year or over 40,000 from YE15
Value proposition: Connected HOME
Connectivity + entertainment + convenience + peace-of-mind
Enable via devices: Telpad, TVolution, FamCam
Encourage usage: iflix (SVOD), Fox (live and catch-up TV), Cignal
over Fibr, Disney/Kids Channel, PLDT/Smart data sharing plan
Range of speeds up to 1Gbps
Wireless Broadband
Wireless broadband revenues, comprising 21% of total
data/broadband revenues, grew by 17% or P0.4bn to P2.9bn
Wireless broadband subscribers rose to about 4.0mn, with net
adds of about 600,000 or 18% from last year or over 56,000 from
YE15
14
Fixed Line
Higher by P1.2bn or 8%
Data and
Broadband
14.3
Domestic voice
and Others
+1.1
+0.2
-0.1
+13%
+4%
-4%
1Q15
56%
32%
12%
1Q16
59%
31%
10%
15.4
1Q 2015
1Q 2016
* Net of interconnect
Wireless
Lower by P1.2bn or 4%
SMS and VAS,
Data, broadband, Cellular domestic
Cellular
digital platforms voice and others International voice
+1.2
27.9
1Q 2015
+23%
-1.7
-8%
1Q15
18%
71%
11%
1Q16
23%
68%
9%
-0.7
-23%
26.7
1Q 2016
15
+4%
+4%
-4%
51.2
+4%
51.1
49.3
29%
7%
12%
17%
36%
27%
38%
11%
13%
29%
+5%
14%
27%
28%
14%
12%
12%
+1%
-5%
24%
27%
26%
26%
45%
18%
10%
11%
56.1
49.0
48.6
42%
53.7
51.4
+5%
21%
19%
9%
10%
22%
19%
8%
9%
17%
7%
8%
27%
25%
23%
15%
57%
54%
51%
48%
45%
30%
29%
28%
58.8
6%
8%
14%
5%
6%
32%
32%
31%
32%
32%
32%
30%
30%
29%
2007
2008
2009
2010
2011
2012
2013
2014
2015
Others
Fixed Broadband
NLD
International Voice
11%
Domestic Voice
16
Svc Rev
19.3
+0.1
Subsidies
-1.4
Cash
Opex
-0.6
Provns
-0.8
16.6
1Q 2015
Margins
1Q 2016
48%
41%
19.3
-16%
+14%
-3.0
+2.3
18.5
-13%
EBITDA Margin
48%
+3%
-2.4
16.2
1Q15
16.2
+0.5
16.6
2Q15 *
3Q15
4Q15
1Q16
40%
45%
39%
41%
9.3
EBITDA Non-cash
-2.7 expenses
-0.3
Net
Fin
Costs - equity in
earnings
Net
-0.3
-0.1
Others
+1.0
1Q 2015
Provn
for Inc
Taxes
7.2
+0.2
1Q 2016
(Php in billions)
Core
Income
7.2
1Q 2016
Forex and
Deriv Gains, net
Asset
Impairment
+0.5
-1.6
Others
+0.1
Reported
Income
6.2
1Q 2016
31.2
13.7
17.2
2011
36.4
Wireless
43.2
43.0
12.9
13.9
23.0
30.3
29.2
2014
2015
21%
26%
34.8
28.8
13.7
1.0
11.7
11.7
22.1
2012
17.1
2013
23%
18%
2.9
13.
6
1.2
21%
14.6
2016
Guidance
1.8
1Q15
1Q16
up to
26%
In addition to the P302bn or US$6.7bn in capex spent from 2006 2015, PLDT is expected to invest approx. 26% of its 2016
service revenues or another P43bn in 2016 for the continued build-out of a robust and reliable network
Smart setting industry standards in terms of mobile connectivity speeds and experience
Roll-out of next stage of LTE network technology (LTE-A carrier aggregation) that will address skyrocketing demand for highspeed mobile data services
19
2.9
1.9
0.9
2012
Debt Balance
Debt Maturities
(US$ in billions)
0.7
0.6
2013
2014
Debt Balance*
Net Debt/EBITDA
1.05x
0.9x
1.0
662
1.1
296
2015
1.35x
1.62x
1,069
2.5
2.4
2.3
1.6
Total: US$3,520mn
3.5
3.4
2.9
2.4
283
395
369
2019
2020
446
1Q2016
Net Debt
1.68x
2016
2017
2018
11%
2021
13%
2022
to 2026
30%
20
EBITDA
Stable vis--vis 2015
Core Income
P28bn
CAPEX
P43bn
Capital Management
Dividend payout:
75% of core EPS
21
Details
22
72.1mn
Cellular Subscribers
in mn
Q-o-Q:
Y-o-Y
Total
64.4
-7%
Q-o-Q
Y-o-Y:
-1%
Postpaid
3.0
+2%
Prepaid
61.5
-8%
-8%
Y-o-Y
Q-o-Q
-6%
Total
2.3
+5%
+2%
PLDT
2.3
+7%
+3%
-8%
-1%
Broadband Subscribers
in mn
Y-o-Y
Q-o-Q
Total
5.3
+17%
+2%
Wireless
Broadband
4.0
+18%
+1%
Fixed
Broadband
1.3
+14%
+3%
23
Appendix
Dec-15
Sept-15
Jun-15
Mar-15
61,484,747
61,980,425
64,082,775
65,843,593
22,224,447
22,892,303
23,390,886
24,188,189
9,940,900
11,033,962
12,983,058
29,319,400
28,054,160
2,964,639
2,957,649
Smart Postpaid
1,327,439
Sun Postpaid
1Q16 vs 1Q15
Net Adds
Net Adds
1Q16
66,721,243
(5,236,496)
-8%
(495,678)
-1%
24,819,813
(2,595,366) -10%
(667,856)
-3%
13,753,240
13,846,206
(3,905,306) -28%
27,708,831
27,902,164
28,055,224
1,264,176
5%
1,265,240
2,920,068
3,018,671
2,900,904
63,735
2%
6,990
1,229,726
1,183,996
1,139,536
1,088,806
238,633
22%
97,713
8%
1,637,200
1,727,923
1,736,072
1,879,135
1,812,098
(90,723)
-5%
64,449,386
64,938,074
67,002,843
68,862,264
69,622,147
(488,688)
-1%
Mar-16
Dec-15
Sept-15
Jun-15
Mar-15
23,551,886
24,122,029
24,574,882
25,327,725
22,224,447
22,892,303
23,390,886
24,188,189
CELLULAR
Prepaid
Smart Prepaid
Sun Prepaid
TNT
Postpaid
Total Cellular
Subscribers
(174,898) -10%
(5,172,761)
-7%
(1,093,062) -10%
5%
Net Adds
Net Adds
1Q16
25,908,619
(2,356,733)
-9%
(570,143)
-2%
24,819,813
(2,595,366) -10%
(667,856)
-3%
CELLULAR
Smart
Smart Prepaid
1,327,439
1,229,726
1,183,996
1,139,536
1,088,806
238,633
22%
97,713
8%
TNT
Smart Postpaid
29,319,400
28,054,160
27,708,831
27,902,164
28,055,224
1,264,176
5%
1,265,240
5%
Sun Cellular
-9%
11,578,100
12,761,885
14,719,130
15,632,375
15,658,304
(4,080,204) -26%
(1,183,785)
Sun Prepaid
9,940,900
11,033,962
12,983,058
13,753,240
13,846,206
(3,905,306) -28%
(1,093,062) -10%
Sun Postpaid
1,637,200
1,727,923
1,736,072
1,879,135
1,812,098
(174,898) -10%
64,449,386
64,938,074
67,002,843
68,862,264
69,622,147
Total Cellular
Subscribers
(5,172,761)
-7%
(90,723)
-5%
(488,688)
-1%
Net Adds
Mar-16
Dec-15
Sept-15
Jun-15
Mar-15
Wireless Broadband
3,989,519
3,932,820
3,789,654
3,676,164
3,391,440
598,079
18%
56,699
1%
Smart Broadband
3,143,892
3,057,958
2,896,187
2,829,074
2,613,672
530,220
20%
85,934
3%
2,611,986
2,526,230
2,380,817
2,321,847
2,110,120
501,866
24%
85,756
3%
531,906
531,728
515,370
507,227
503,552
28,354
6%
178
Net Adds
1Q16
BROADBAND
Prepaid
Postpaid
Sun Broadband
845,627
874,862
893,467
847,090
777,768
67,859
9%
Prepaid
554,442
557,205
561,045
489,168
424,648
129,794
31%
(29,235) -3%
Postpaid
291,185
317,657
332,422
357,922
353,120
(61,935) -18%
1,296,402
1,255,864
1,224,735
1,185,319
1,138,598
157,804
14%
40,538
3%
Total Broadband
Subscribers
5,285,921
5,188,684
5,014,389
4,861,483
4,530,038
755,883
17%
97,237
2%
Mar-16
Dec-15
Sept-15
Jun-15
Mar-15
2,307,508
2,303,454
2,285,952
2,257,266
2,234,115
(2,763)
(26,472) -8%
1Q16 vs 1Q15
Net Adds
73,393
%
3%
Net Adds
1Q16
4,054
%
-
1Q2016
1Q2015
Others
Service Revenues
Cash operating expenses
Depreciation and amortization
Financing costs, net
Consolidated
% Change
Fixed Line
27,931
17,935
42,779
42,553
1%
26,670
17,015
40,598
40,548
12,515
10,213
19,295
18,701
3%
4,002
3,156
7,158
6,896
4%
18%
(Php in millions)
Total Revenues
Consolidated
(unaudited)
Wireless
(615)
15
-
(unaudited)
(1,202)
(46)
(1,804)
(1,535)
5,977
3,614
(629)
8,962
12,256
(27%)
1,702
1,065
(38)
2,729
2,858
(5%)
EBITDA
9,629
6,631
(15)
16,606
19,282
(14%)
36%
39%
41%
48%
4,273
2,535
(591)
6,217
9,387
(34%)
3,895
2,648
668
7,211
9,280
(22%)
1Q2016
(Php in millions)
Net Income attributable to equity holder of PLDT
Add (deduct):
Foreign exchange gains, net
Losses (gains) on derivative financial instruments, net
Asset Impairment
Others
Tax effect
Core Net Income
Others
Consolidated
(unaudited)
1Q2015
Consolidated % Change
(unaudited)
4,273
2,535
(591)
6,217
9,387
(604)
65
161
3,895
(105)
304
(27)
(59)
2,648
(261)
1,583
(15)
(48)
668
(970)
369
1,583
(42)
54
7,211
(43)
(105)
7
34
9,280
(34%)
2,156%
(451%)
(700%)
59%
(22%)
(Php in millions)
Fixed line
Fixed Line voice - domestic
Fixed Line voice - international
National long distance
Data and other network
Miscellaneous
Wireless
Cellular services
Wireless broadband and others
Wireless broadband
Others
Digital platforms and mobile financial services
Total
2016
1Q
1Q
14,287
4,333
1,240
844
7,650
220
26,311
23,059
3,119
2,931
188
133
40,598
13,034
4,172
1,311
923
6,436
192
27,514
24,529
2,721
2,506
215
264
40,548
2Q
2015
3Q
4Q
FY
13,302
4,226
1,323
906
6,644
203
27,309
24,103
2,962
2,655
307
244
40,611
13,589
4,280
1,273
915
6,945
176
27,253
23,872
3,031
2,820
211
350
40,842
13,817
4,301
1,336
833
7,145
202
27,112
23,794
3,128
2,925
203
190
40,929
53,742
16,979
5,243
3,577
27,170
773
109,188
96,298
11,842
10,906
936
1,048
162,930
2016
1Q
1Q
13,805
3,091
2,931
4,402
3,248
133
22,417
9,206
8,150
4,333
728
4,376
1,240
844
2,292
40,598
Non-Service revenues
Total Consolidated Gross Revenues
Add:
Cash operating expenses
Cost of sales
Writedown of inventory and provision for doubtful AR
EBITDA
4Q
FY
11,441
2,235
2,506
3,808
2,628
264
23,893
10,216
8,795
4,172
710
5,214
1,311
923
2,980
40,548
12,086
2,543
2,655
3,959
2,685
244
23,499
9,821
8,670
4,226
782
5,026
1,323
906
2,797
40,611
12,986
2,871
2,820
4,109
2,836
350
23,063
9,869
8,266
4,280
648
4,793
1,273
915
2,605
40,842
13,032
2,772
2,925
4,240
2,905
190
23,194
9,635
8,311
4,301
947
4,703
1,336
833
2,534
40,929
49,545
10,421
10,906
16,116
11,054
1,048
93,649
39,541
34,042
16,979
3,087
19,736
5,243
3,577
10,916
162,930
2,181
2,005
2,027
1,838
2,303
8,173
42,779
42,553
42,638
42,680
43,232
171,103
(1)
EBITDA Margin
(1) EBITDA
2Q
2015
3Q
41%
19,282
48%
16,238
40%
18,546
45%
16,152
39%
(80,369)
(16,614)
(3,902)
70,218
43%
(Php in millions)
2016
1Q
6,185
3,091
2,960
134
18,181
9,209
8,244
728
2,304
2,304
26,670
5,028
2,235
2,528
265
19,863
10,219
8,919
725
2,995
2,995
27,886
5,465
2,543
2,677
245
19,429
9,824
8,786
819
2,813
2,813
27,707
1,261
1,290
27,931
Non-Service revenues
Total Wireless Gross Revenues
Add:
Cash operating expenses
Cost of sales
Writedown of inventory and provision for doubtful AR
EBITDA
EBITDA Margin (1)
(1) EBITDA
1Q
2Q
2015
3Q
4Q
FY
6,063
2,871
2,841
351
18,961
9,871
8,378
712
2,617
2,617
27,641
5,907
2,772
2,945
190
19,023
9,638
8,420
965
2,552
2,552
27,482
22,463
10,421
10,991
1,051
77,276
39,552
34,503
3,221
10,977
10,977
110,716
1,204
1,027
1,276
4,797
29,176
28,911
28,668
28,758
115,513
(12,515)
(4,452)
(1,335)
(12,775)
(3,217)
(581)
(13,941)
(3,270)
(539)
9,629
36%
12,603
45%
11,161
40%
(13,202) (14,827)
(3,395) (3,991)
(639)
(899)
11,432
41%
9,041
33%
(54,745)
(13,873)
(2,658)
44,237
40%
1Q
8,074
3,812
3,660
602
4,589
4,196
393
3,273
2,255
1,018
15,936
2Q
8,261
3,962
3,680
619
4,612
4,250
362
3,335
2,335
1,000
16,208
2015
3Q
8,537
4,113
3,747
677
4,647
4,304
343
3,243
2,233
1,010
16,427
4Q
8,876
4,254
3,916
706
4,702
4,326
376
3,326
2,396
930
16,904
FY
33,748
16,141
15,003
2,604
18,550
17,076
1,474
13,177
9,219
3,958
65,475
920
715
824
812
1,039
3,390
17,935
16,651
17,032
17,239
17,943
68,865
(9,473)
(626)
(316)
(9,853) (40,113)
(928) (2,759)
(341) (1,244)
(1)
2016
1Q
9,110
4,428
3,944
738
4,761
4,357
404
3,144
2,203
941
17,015
(10,213)
(781)
(310)
(9,590) (11,197)
(491)
(714)
(285)
(302)
6,631
6,285
4,819
6,824
6,821
24,749
39%
39%
30%
42%
40%
38%
Non-service revenues include sale of Telpad, TVolution, FamCam, PLDT Uno, FabTAB, and several managed PABX and OnCall solutions
margin calculated as EBITDA divided by service revenues (gross of interconnection costs)
(2) EBITDA
2016
1Q
1Q
2Q
2015
3Q
4Q
FY
4,357
821
747
4,428
3,940
738
404
15,435
4,196
853
786
3,812
3,642
602
393
14,284
4,249
873
782
3,962
3,664
619
362
14,511
4,303
895
804
4,113
3,720
677
343
14,855
4,326
866
719
4,254
3,912
706
376
15,159
17,074
3,487
3,091
16,141
14,938
2,604
1,474
58,809
Expenses
1Q2016
(Php in millions)
Operating expenses
Compensation and employee benefits
Repairs and maintenance
Selling and promotions
Rent
Insurance and security services
Taxes and licenses
Professional and other contracted services
Communication, training and travel
Interconnection costs
Other expenses
Wireless
Fixed Line
1,886
2,049
1,250
2,384
312
965
1,336
210
2,019
104
3,349
1,745
468
848
178
353
1,356
130
1,580
206
12,515
Others
1Q2015
Consolidated Consolidated % Change
(unaudited) (unaudited)
2
13
-
5,231
3,671
1,718
1,670
463
1,322
2,174
301
2,436
309
4,981
3,667
2,017
1,458
460
1,051
1,926
311
2,583
247
5%
(15%)
15%
1%
26%
13%
(3%)
(6%)
25%
10,213
15
19,295
18,701
3%
4,002
1,335
272
3,156
310
-
1,583
-
7,158
3,228
272
6,896
866
268
4%
273%
1%
5,609
3,466
1,583
10,658
8,030
33%
Cost of sales
4,452
781
5,233
3,704
41%
Total Expenses
22,576
14,460
1,598
35,186
30,435
16%
Others
(Php in millions)
(30)
113
(90)
604
640
1,237
(68)
182
(407)
105
1,529
1,341
(644)
(50)
(5)
84
(615)
(1,192)
(25)
(2)
17
(1,202)
622
139
735
19
261
1,015
(46)
(46)
969
1Q2015
Consolidated Consolidated % Change
(unaudited) (unaudited)
637
255
(497)
970
1,808
3,173
653
184
30
43
763
1,673
(1,823)
(75)
(7)
101
(1,804)
(1,448)
(45)
(128)
86
(1,535)
1,369
138
(2%)
39%
(1,757%)
2,156%
137%
90%
26%
67%
(95%)
17%
18%
892%
2016
1Q
999
109
80
78
459
Smart Postpaid
Smart Prepaid
TNT
Sun Cellular Prepaid
Sun Cellular Postpaid
1Q
1,039
118
85
63
449
2015
2Q
3Q
1,065 1,021
114
115
83
82
64
65
419
436
4Q
1,014
113
83
71
475
2015
2Q
3Q
4Q
(1)
114
1Q
119
118
118
118
The average monthly ARPU of all prepaid and postpaid cellular subscribers; excluding DMPI
2016
1Q
245
251
1,162
1Q
274
237
1,137
2015
2Q
3Q
262
267
213
207
1,137 1,138
4Q
257
242
1,144
6,217
(15)
6,202
6,217
(15)
6,202
1Q2015
(unaudited)
Basic
Diluted
9,387
(14)
9,373
9,387
(14)
9,373
216,056
216,056
216,056
216,056
28.71
28.71
43.38
43.38
7,211
(15)
7,196
7,211
(15)
7,196
9,280
(14)
9,265
9,280
(14)
9,265
216,056
216,056
216,056
216,056
33.31
33.31
42.88
42.88
Balance Sheet
Consolidated
(Php in millions)
(unaudited)
(audited)
Total Assets
466,102
455,095
161,881
161,568
in US$
Less: Unamortized Debt Discount
$3,520
691
$3,429
676
161,190
160,892
48,490
47,884
113,391
113,684
105,603
113,898
(1)
Equity
(2)
1.53x
1.42x
1.07x
1.00x
2.40x
2.30x
(1)
1.68x
1.62x
Net Debt
(1)
(3)
(3)
/EBITDA
Net Debt calculated based on nominal value of debts less cash and cash equivalents and short-term investments
value of total debt
(3) EBITDA for the last twelve months (LTM)
(2) Nominal
Debt Profile
2011
2,719
1,061
1,658
(US$ in millions)
Debt Balance
Cash and short-term investments
Net Debt
2012
2,851
919
1,932
2013
2,353
735
1,618
2014
2,920
610
2,310
2015
3,429
1,016
2,413
1Q2016
3,520
1,054
2,466
Interest-bearing Liabilities
Carrying
Value
(US$ in millions)
December 31,
2015
Unamortized Debt
Discount/Debt
Issuance
(Audited)
Face Value
Face Value
Change
Debt
PLDT
$2,002
$5
$2,007
$2,003
$4
Smart
1,410
10
1,420
1,322
98
93
93
104
$3,505
$15
$3,520
$3,429
DIGITEL
Total Debt
(11)
$91
Forex sensitivity for every P1 change on B/S Revaluation (in US$ millions)
Conso
140.7
US$ Expenses
Cash Opex*
Cost of sales
Financing costs
US$ Income before tax
Tax effect
(65.6)
(48.7)
(1.2)
(15.7)
75.1
22.5
Core Earnings
52.6
EBITDA
90.8
19.3
2,488.6
941.9
127.9
154.9
36.9
0.1
1,261.7
P1 movement in the
USD/PHP exchange
rate corresponds to
a P191M change in
derivatives
417.6
70.2
142.4
1.4
13.5
20.1
665.2
596.50
1,359.9
418.0
941.9
Ave.
47.26
44.42
Period End
45.99
44.73
6.4%
2.8%
Except for historical financial and operating data and other information in respect of historical matters,
the statements contained herein are forward-looking statements within the meaning of Section 27A of
the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended. The words believe, intend, plan, anticipate, continue, estimate, expect,
may, will or other similar words are frequently used to indicate these forward looking statements.
Any such forward-looking statement is not a guarantee of future performance and involves a number of
known and unknown risks, uncertainties and other factors that could cause the actual performance,
financial condition or results of operation of PLDT to be materially different from any future
performance, financial condition or results of operation implied by such forward-looking statement.
Among the factors that could cause actual results to differ from the implied or expected results are
those factors discussed under Risk Factors in Item 3 in PLDTs annual report on Form 20-F.
41