Maya cushions PLDT profit slide

PLDT Inc. posted a 1 percent increase in core income to P34.6 billion in 2025, as the first full year of profitability of its digital bank Maya helped cushion weaker earnings from its core telecommunications business.

In a stock exchange report on Thursday, the Pangilinan-led telco said telco core income declined 3 percent to P33.9 billion, while reported net income fell 7 percent to P30.0 billion due to lower non-core gains and higher non-recurring charges.

Maya posted net income of P1.7 billion in 2025, marking its first full year of profitability, with deposits rising 72 percent to about P68 billion.

“The first half of the year was tough, but we regained momentum in the second half, with our third quarter gains carrying us through to the end of 2025. Our core business has remained stable, especially considering the challenges in the wider economy. We likewise saw our disciplined and focused investments strengthen our free cash flow,” PLDT chairman and CEO Manuel V. Pangilinan said.

“We continue to build a healthier business for the long term, powered by our subscribers and the steady scaling of our growth engines, including our ICT and data center businesses and Maya, which are becoming increasingly meaningful contributors to PLDT,” he added.

Gross service revenues rose 2 percent to P212.2 billion, while net service revenues increased 1 percent to a record P196.2 billion. Data and broadband revenues reached P166.5 billion, accounting for 85 percent of the total.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 3 percent to a record P111.2 billion, with margins steady at 52 percent.

Capital expenditures declined to P60.3 billion from P78.2 billion, reducing capex intensity to 28 percent and helping sustain positive free cash flow ahead of the company’s 2026 target.

The board approved a final dividend of P46 per share, bringing total dividends for 2025 to P94 per share, equivalent to a 60 percent payout.

Wireless revenues reached P85.0 billion, while home broadband revenues rose to a record P61.0 billion as fiber subscribers grew to 3.76 million. Enterprise revenues also hit a record P48.4 billion, driven by ICT, cloud, and data center services.