PLDT Inc. (NYSE:PHI) Q2 2024 Earnings Conference Call August 13, 2024 3:30 AM ET
Company Participants
Melissa Vergel De Dios - First Vice President and Chief Sustainability Officer
Danny Yu - CFO and CRO
Jeremiah De La Cruz - Head, Home
Manuel Pangilinan - Chairman and CEO
Kristine Go - SVP for Consumer Wireless Business of Smart
Menardo Jimenez - Head, Business
Joseph Ian Gendrano - Head, Enterprise
Conference Call Participants
Arthur Pineda - Citi
John Te - UBS
Jarred Go - AB Capital
Derrick Guarin - CLSA
Melissa Vergel De Dios
Good afternoon, and thank you for joining us today to discuss the Company's Financial and Operating Results for the First Half of 2024. A copy of today's presentation is posted on our website. For those who have not been able to do so, you may download the presentation from www.pldt.com under the Investor Relations section.
Kindly note that this briefing is being recorded. A broadcast of the event will be available on our website after the call. The QR code for the presentation is on the screen and in the confirmation notices e-mailed to you.
For today's presentation, we have with us our Chairman and CEO, Mr. Manny Pangilinan; Mr. Danny Yu, our Chief Financial Officer and Chief Risk Management Officer; Atty. Marilyn Aquino, our Corporate Secretary and Chief Legal Counsel; as well as the business unit heads led by Mr. Jeremiah De La Cruz of Home; Mr. Jojo Gendrano of Enterprise; Ms. Kristine Go for the individual business; and our Head of Network, Mr. Butch Jimenez.
At this point, let me turn the floor over to Mr. Danny Yu to start the presentation.
Danny Yu
Good afternoon, everyone. Please allow me to present PLDT's financial and operating highlights for the first semester of 2024. Consolidated service revenues for the first half reached another milestone at ₱96.9 billion or 3% higher than last year. On gross basis, service revenues were higher by 4%, compared to the same period last year.
Operating expenses marginally grew by 1% to ₱43 billion. Consolidated EBITDA rose by 3% to ₱53.9 billion, a semestral high, with EBITDA margin at 52%. Telco core income, excluding the impact of asset sales in Maya, expanded by 3% to ₱18 billion.
On segment basis, our Individual business registered ₱1.7 billion or 4% growth in revenues to ₱41.9 billion. The Enterprise segment recorded a 4% revenue upswing to ₱24 billion. While our Home revenues were marginally lower by ₱177 million or 1% at ₱30 billion, fiber-only revenues were higher by 7% or ₱1.8 billion, compared to the same period last year.