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Operating Segment Information | 12 Months Ended
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Dec. 31, 2024
Disclosure of operating segments [abstract] |
Operating Segment Information | 4. Operating Segment Information Operating segments are components of the PLDT Group that engage in business activities from which they may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of PLDT Group). The operating results of these operating segments are regularly reviewed by the Executive Committee to make decisions about how resources are to be allocated to each of the segments and to assess their performances, and for which discrete financial information is available. For management purposes, we are organized into business units based on our products and services. We have three reportable operating segments as follows: • Wireless – mobile telecommunications services provided by Smart and DMPI, our mobile service providers; SBI and PDSI, our wireless broadband service providers; and certain subsidiaries of PLDT Global; • Fixed Line – fixed line telecommunications services primarily provided by PLDT. We also provide fixed line services through PLDT’s subsidiaries, namely, ClarkTel, BCC and PLDT Global and certain subsidiaries; data center, cloud, cybersecurity services, managed information technology services through ePLDT and its subsidiaries; distribution of Filipino channels and content through PGNL and its subsidiaries; and software development and IT solutions provided by Multisys; and • Others – PCEV, PGIH, PLDT Digital and its subsidiaries, our investment companies. See Note 2 – Summary of Material Accounting Policies for further discussion. Segment revenues, segment expenses and segment results include transfers between business segments. These transfers are eliminated in full upon consolidation. The amounts of segment assets and liabilities and segment profit or loss are based on measurement principles that are similar to those used in measuring the assets and liabilities and profit or loss in our consolidated financial statements, which is in accordance with IFRS Accounting Standards. The segment revenues, net income, and other segment information of our reportable operating segments for the years ended December 31, 2024, 2023 and 2022, and as at December 31, 2024 and 2023 are as follows:
|  | Wireless |  |  | Fixed Line |  |  | Others |  |  | Inter- segment Transactions |  |  | Consolidated |
|  | (in million pesos) |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External customers |  |  | 104,944 |  |  |  | 111,889 |  |  |  | — |  |  |  | — |  |  |  | 216,833 |
Service revenues |  |  | 96,989 |  |  |  | 111,393 |  |  |  | — |  |  |  | — |  |  |  | 208,382 |
Non-service revenues |  |  | 7,955 |  |  |  | 496 |  |  |  | — |  |  |  | — |  |  |  | 8,451 |
Inter-segment transactions |  |  | 790 |  |  |  | 14,601 |  |  |  | — |  |  |  | (15,391 | ) |  |  | — |
Service revenues |  |  | 790 |  |  |  | 14,601 |  |  |  | — |  |  |  | (15,391 | ) |  |  | — |
Non-service revenues |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total revenues |  |  | 105,734 |  |  |  | 126,490 |  |  |  | — |  |  |  | (15,391 | ) |  |  | 216,833 |
Results |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 36,297 |  |  |  | 29,065 |  |  |  | — |  |  |  | (9,374 | ) |  |  | 55,988 |
Asset impairment |  |  | 906 |  |  |  | 3,415 |  |  |  | — |  |  |  | — |  |  |  | 4,321 |
Interest income |  |  | 698 |  |  |  | 230 |  |  |  | 15 |  |  |  | (27 | ) |  |  | 916 |
Equity share in net losses of associates and joint ventures |  |  | — |  |  |  | (67 | ) |  |  | (923 | ) |  |  | — |  |  |  | (990 | )
Financing costs – net |  |  | 9,763 |  |  |  | 7,456 |  |  |  | — |  |  |  | (1,719 | ) |  |  | 15,500 |
Provision for (benefit from) income tax |  |  | 3,276 |  |  |  | 6,501 |  |  |  | (9 | ) |  |  | 370 |  |  |  | 10,138 |
Net income (loss) / Segment profit (loss) |  |  | 11,060 |  |  |  | 32,392 |  |  |  | (1,069 | ) |  |  | (9,828 | ) |  |  | 32,555 |
Assets and liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating assets |  |  | 326,672 |  |  |  | 291,635 |  |  |  | 19,879 |  |  |  | (82,318 | ) |  |  | 555,868 |
Investments in associates and joint ventures |  |  | 108 |  |  |  | 44,758 |  |  |  | 7,898 |  |  |  | — |  |  |  | 52,764 |
Deferred income tax assets – net |  |  | 6,537 |  |  |  | 8,014 |  |  |  | 62 |  |  |  | 30 |  |  |  | 14,643 |
Total assets |  |  | 333,317 |  |  |  | 344,407 |  |  |  | 27,839 |  |  |  | (82,288 | ) |  |  | 623,275 |
Operating liabilities |  |  | 280,160 |  |  |  | 287,993 |  |  |  | 1,182 |  |  |  | (62,855 | ) |  |  | 506,480 |
Deferred income tax liabilities |  |  | 15 |  |  |  | 43 |  |  |  | — |  |  |  | 2 |  |  |  | 60 |
Total liabilities |  |  | 280,175 |  |  |  | 288,036 |  |  |  | 1,182 |  |  |  | (62,853 | ) |  |  | 506,540 |
Other segment information |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures, including capitalized interest (Note 9)(1)(2) |  |  | 40,767 |  |  |  | 37,294 |  |  |  | 185 |  |  |  | — |  |  |  | 78,246 |
(1) Net of additions subject to sale and leaseback from tower companies. (2) Includes capitalization of subscriber contract cost to fulfill.
|  | Wireless |  |  | Fixed Line |  |  | Others |  |  | Inter- segment Transactions |  |  | Consolidated |
|  | (in million pesos) |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External customers |  |  | 103,718 |  |  |  | 107,235 |  |  |  | — |  |  |  | — |  |  |  | 210,953 |
Service revenues |  |  | 94,994 |  |  |  | 106,838 |  |  |  | — |  |  |  | — |  |  |  | 201,832 |
Non-service revenues |  |  | 8,724 |  |  |  | 397 |  |  |  | — |  |  |  | — |  |  |  | 9,121 |
Inter-segment transactions |  |  | 683 |  |  |  | 13,499 |  |  |  | — |  |  |  | (14,182 | ) |  |  | — |
Service revenues |  |  | 683 |  |  |  | 13,498 |  |  |  | — |  |  |  | (14,181 | ) |  |  | — |
Non-service revenues |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | (1 | ) |  |  | — |
Total revenues |  |  | 104,401 |  |  |  | 120,734 |  |  |  | — |  |  |  | (14,182 | ) |  |  | 210,953 |
Results |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 31,498 |  |  |  | 36,855 |  |  |  | — |  |  |  | (9,912 | ) |  |  | 58,441 |
Asset impairment |  |  | 648 |  |  |  | 3,784 |  |  |  | — |  |  |  | — |  |  |  | 4,432 |
Interest income |  |  | 720 |  |  |  | 324 |  |  |  | 7 |  |  |  | (35 | ) |  |  | 1,016 |
Equity share in net losses of associates and joint ventures |  |  | — |  |  |  | (595 | ) |  |  | (2,211 | ) |  |  | — |  |  |  | (2,806 | )
Financing costs – net |  |  | 9,034 |  |  |  | 6,824 |  |  |  | — |  |  |  | (2,103 | ) |  |  | 13,755 |
Provision for income tax |  |  | 5,537 |  |  |  | 4,015 |  |  |  | 1 |  |  |  | 59 |  |  |  | 9,612 |
Net income (loss) / Segment profit (loss) |  |  | 17,522 |  |  |  | 26,514 |  |  |  | (2,270 | ) |  |  | (14,901 | ) |  |  | 26,824 |
Continuing operations |  |  | 17,522 |  |  |  | 26,514 |  |  |  | (2,270 | ) |  |  | (14,901 | ) |  |  | 26,865 |
Discontinued operations (Notes 2 and 8) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (41 | )
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets and liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating assets |  |  | 291,140 |  |  |  | 260,220 |  |  |  | 13,415 |  |  |  | (23,736 | ) |  |  | 541,039 |
Investments in associates and joint ventures |  |  | 41 |  |  |  | 42,709 |  |  |  | 7,558 |  |  |  | — |  |  |  | 50,308 |
Deferred income tax assets – net |  |  | 5,356 |  |  |  | 11,270 |  |  |  | 53 |  |  |  | 1,493 |  |  |  | 18,172 |
Total assets |  |  | 296,537 |  |  |  | 314,199 |  |  |  | 21,026 |  |  |  | (22,243 | ) |  |  | 609,519 |
Operating liabilities |  |  | 233,237 |  |  |  | 279,660 |  |  |  | 1,883 |  |  |  | (15,812 | ) |  |  | 498,968 |
Deferred income tax liabilities |  |  | — |  |  |  | 165 |  |  |  | — |  |  |  | — |  |  |  | 165 |
Total liabilities |  |  | 233,237 |  |  |  | 279,825 |  |  |  | 1,883 |  |  |  | (15,812 | ) |  |  | 499,133 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other segment information |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures, including capitalized interest (Note 9)(1) |  |  | 36,797 |  |  |  | 48,286 |  |  |  | — |  |  |  | — |  |  |  | 85,083 |
(1) Net of additions subject to sale and leaseback from tower companies.
|  | Wireless |  |  | Fixed Line |  |  | Others |  |  | Inter- segment Transactions |  |  | Consolidated |
|  | (in million pesos, except for EBITDA margin) |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
External customers |  |  | 103,482 |  |  |  | 100,880 |  |  |  | — |  |  |  | — |  |  |  | 204,362 |
Service revenues |  |  | 95,060 |  |  |  | 100,284 |  |  |  | — |  |  |  | — |  |  |  | 195,344 |
Non-service revenues |  |  | 8,422 |  |  |  | 596 |  |  |  | — |  |  |  | — |  |  |  | 9,018 |
Inter-segment transactions |  |  | 792 |  |  |  | 26,930 |  |  |  | — |  |  |  | (27,722 | ) |  |  | — |
Service revenues |  |  | 792 |  |  |  | 26,930 |  |  |  | — |  |  |  | (27,722 | ) |  |  | — |
Total revenues |  |  | 104,274 |  |  |  | 127,810 |  |  |  | — |  |  |  | (27,722 | ) |  |  | 204,362 |
Results |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 52,660 |  |  |  | 55,707 |  |  |  | — |  |  |  | (9,736 | ) |  |  | 98,631 |
Asset impairment |  |  | 1,173 |  |  |  | 4,870 |  |  |  | 1 |  |  |  | — |  |  |  | 6,044 |
Interest income |  |  | 451 |  |  |  | 202 |  |  |  | 14 |  |  |  | (14 | ) |  |  | 653 |
Equity share in net gains (losses) of associates and joint ventures |  |  | — |  |  |  | (253 | ) |  |  | (3,051 | ) |  |  | — |  |  |  | (3,304 | )
Financing costs – net |  |  | 8,349 |  |  |  | 6,100 |  |  |  | — |  |  |  | (2,690 | ) |  |  | 11,759 |
Provision for (benefit from) income tax |  |  | 3,793 |  |  |  | (1,102 | ) |  |  | (134 | ) |  |  | 140 |  |  |  | 2,697 |
Net income (loss) / Segment profit (loss) |  |  | 15,104 |  |  |  | 16,766 |  |  |  | (2,669 | ) |  |  | (17,866 | ) |  |  | 10,735 |
Continuing operations |  |  | 15,104 |  |  |  | 16,766 |  |  |  | (2,669 | ) |  |  | (17,866 | ) |  |  | 11,335 |
Discontinued operations (Notes 2 and 8) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (600 | )
Other segment information |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures, including capitalized interest (Note 9)(1) |  |  | 46,636 |  |  |  | 50,174 |  |  |  | — |  |  |  | — |  |  |  | 96,810 |
(1) Net of additions subject to sale and leaseback from tower companies. The following table presents our revenues from external customers by category of products and services for the years ended December 31, 2024, 2023 and 2022:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in million pesos) |
Wireless services |  |  |  |  |  |  |  |  |
Service revenues: |  |  |  |  |  |  |  |  |
Mobile |  |  | 95,508 |  |  |  | 93,365 |  |  |  | 93,029 |
Home broadband |  |  | 1,481 |  |  |  | 1,629 |  |  |  | 2,028 |
Others |  |  | — |  |  |  | — |  |  |  | 3 |
|  |  | 96,989 |  |  |  | 94,994 |  |  |  | 95,060 |
Non-service revenues: |  |  |  |  |  |  |  |  |
Sale of mobile handsets and broadband data modems |  |  | 7,955 |  |  |  | 8,724 |  |  |  | 8,422 |
Total wireless revenues |  |  | 104,944 |  |  |  | 103,718 |  |  |  | 103,482 |
Fixed line services |  |  |  |  |  |  |  |  |
Service revenues: |  |  |  |  |  |  |  |  |
Data |  |  | 82,893 |  |  |  | 81,509 |  |  |  | 77,889 |
Voice and miscellaneous |  |  | 28,500 |  |  |  | 25,329 |  |  |  | 22,395 |
|  |  | 111,393 |  |  |  | 106,838 |  |  |  | 100,284 |
Non-service revenues: |  |  |  |  |  |  |  |  |
Sale of phone units, devices and others |  |  | 496 |  |  |  | 397 |  |  | 596 |
Total fixed line revenues |  |  | 111,889 |  |  |  | 107,235 |  |  |  | 100,880 |
Total revenues |  |  | 216,833 |  |  |  | 210,953 |  |  |  | 204,362 |
Disclosure of the geographical distribution of our revenues from external customers and the geographical location of our total assets are not provided since majority of our consolidated revenues are derived from our operations within the Philippines. There is no revenue transaction with a single external customer that accounted for 10% or more of our consolidated revenues from external customers for the years ended December 31, 2024, 2023 and 2022.

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