Despite the losses, adjusted earnings before income tax (Ebitda) soared by 420 percent to P744 million, supported by a 47 percent increase in consolidated net revenues to P11.9 billion, primarily driven by DITO Tel.
By the end of September this year, DITO Telecommunity had 13 million subscribers and expanded its network to cover 886 cities, with an average revenue per user of P119 per month.
Costs, debts
Depreciation and amortization expenses increased by 8 percent to P10.6 billion from P9.7 billion, due to heavy capital spending aimed at enhancing nationwide network coverage.
These investments were crucial for meeting regulatory commitments.
The group’s total interest-bearing loans and borrowings rose to P201.6 billion as of Sept. 30, 2024, from P178.2 billion at the end of 2023.
Current lease liabilities increased to P3.44 billion from P3.02 billion, while non-current bank loans saw a significant rise to P193.87 billion from P169.07 billion.
Ready to compete
DITO Telecommunity recently reached a population coverage of 86.3 percent, surpassing the required 84.01 percent. Additionally, DITO Tel achieved average broadband speeds of 92.87 Mbps for 4G and 597.70 Mbps for 5G, far exceeding the 55 Mbps commitment.
DITO CME announced earlier this month that Uy is set to cede control of DITO CME Holdings through a massive share issuance to Summit Telco Corp. Pte. Ltd., which will dilute existing stockholders’ ownership.
