This was confirmed by independent auditor R.G. Manabat & Co., whose audit results were shared by the National Telecommunications Commission (NTC) in a letter to DITO on Sept. 17, 2024.
The auditor confirmed the latest audit results showing that DITO now covers 86.3 percent of the population, with a minimum average internet speed of 92.87 Mbps on 4G and 597.7 Mbps for 5G.
DITO, a venture between Davao-based tycoon Dennis A. Uy and China Telecom, earlier pledged to reach a population coverage of 84 percent and a minimum average internet speed of 55 Mbps on its fifth year.
“Therefore, pursuant to NTC Memorandum Circular No. 09-09-2018 and based on the factual findings reported by the independent auditor, R.G. Manabat & Co., the Commission hereby declares that DITO passed the technical audit of its commitments, national population coverage, and minimum average broadband speed, for the fifth year,” the NTC said in its letter, a copy of which was seen by InsiderPH.
What does this mean?
Because DITO has fulfilled its commitment to the Philippine government, it can continue using valuable network frequencies to further grow its business while being released from the need for mandated network audits.
As of June this year, DITO has grown its user base to 11.3 million subscribers with average revenue per user at P126.
The company, however, continues to grapple with significant losses and debts.
Management believes it can turn profitable in 2028 by growing revenues while managing costs now that major spending requirements have been completed.
What happened before?
The establishment of DITO during the Duterte administration was unique because the 2018 bidding process for scarce 4G and 5G frequencies prioritized the company that committed to significant investments and high network rollout pledges.
DITO began its commercial operations in the midst of the COVID-19 pandemic in 2021. During this year, it passed the first two audits.
Management’s view
Ernesto “Eric” Alberto, DITO Telecommunity CEO, welcomed the report that it had passed its final audit.
“We are sincerely grateful to all our stakeholders who enabled us to successfully hurdle this major milestone,” he told InsiderPH.
“The telco’s board, management, and staff remain humbly resolute and committed to the greater mission ahead of us: to consistently deliver the best quality telco service and experiences for all our customers, and to help uplift the digital competitiveness of our country, the Philippines,” he added.
What’s next?
Alberto said his priority remains the same: to increase their market share and achieve profitability.
“We are striving hard to win our rightful share of the market. Given the hefty investments, we continue to plow into the 3rd telco, bring the company to financial stability in the shortest possible term, and commit ourselves to securing our firm’s sustainable future,” he said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
