UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2020

(Commission File No. 1-03006)

 

PLDT Inc.

(Translation of registrant’s name into English)

 

 

Ramon Cojuangco Building

Makati Avenue

Makati City

Philippines

(Address of registrant’s principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F   Form 40-F  

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (1):

    Yes      No  

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b) (7):

    Yes      No  

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

    Yes      No  

 

 

 

 


 

NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

Some information in this report may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934.  We have based these forward-looking statements on our current beliefs, expectations and intentions as to facts, actions and events that will or may occur in the future.  Such statements generally are identified by forward-looking words such as “believe,” “plan,” “anticipate,” “continue,” “estimate,” “expect,” “may,” “will” or other similar words.

A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement.  We have chosen these assumptions or bases in good faith.  These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control.  In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance.  Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the risk factors set forth in “Item 3. Key Information – Risk Factors” in our annual report on Form 20-F for the fiscal year ended December 31, 2018. You should also keep in mind that any forward-looking statement made by us in this report or elsewhere speaks only as at the date on which we made it.  New risks and uncertainties come up from time to time, and it is impossible for us to predict these events or how they may affect us.  We have no duty to, and do not intend to, update or revise the statements in this report after the date hereof.  In light of these risks and uncertainties, you should keep in mind that actual results may differ materially from any forward-looking statement made in this report or elsewhere.

1


 

EXHIBIT INDEX

 

Copies of the disclosure letters that we filed today with the Securities and Exchange Commission and the Philippine Stock Exchange regarding the following matters:

 

 

 

 

 

 

 

 

 

 

Exhibit

 

Description

 

 

 

 

 

 

 

99.1

 

 

Press release regarding the consolidated financial results of PLDT Inc. (the “Company”) as at and for the year ended December 31, 2019;

 

 

 

 

99.2

 

 

Annual Meeting of Stockholders of the Company (date of meeting, record date, last day for receiving nominations for election of directors/independent directors, last day for receiving proxies, date of validation of proxies); and

 

 

 

 

 

 

 

Cash dividend declaration on the Company’s Common Stock and Voting Preferred Stock.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

 

 

 

PLDT Inc.

 

 

 

By:

/s/ Florentino D. Mabasa, Jr.

 

Name:

FLORENTINO D. MABASA, JR.

Title:

Assistant Corporate Secretary

Date: March 5, 2020

3

phi-ex991_6.htm

 

 

 

 

 

Exhibit 99.1

 

 

EXHIBITS

 

Exhibit Number

 

Page

 

99.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Press release regarding the consolidated financial results of PLDT Inc. (the “Company”) as at and for the year ended December 31, 2019.

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

March 5, 2020

 

 

Philippine Stock Exchange

6/F Philippine Stock Exchange Tower

28th Street corner 5th Avenue

Bonifacio Global City, Taguig City

 

Attention:  Ms. Janet A. Encarnacion

Head, Disclosure Department

 

Gentlemen:

 

In accordance with Section 17.1 (b) and Section 17.3 of the Securities Regulation Code, we submit herewith a copy of SEC Form 17-C with a press release attached thereto regarding the Company’s consolidated financial results as at and for the year ended December 31, 2019.

 

This shall also serve as the disclosure letter for the purpose of complying with PSE Revised Disclosure Rules.

 

 

Very truly yours,

 

 

/s/Florentino D. Mabasa, Jr.

FLORENTINO D. MABASA, JR.

Assistant Corporate Secretary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

March 5, 2020

 

 

Securities & Exchange Commission

Secretariat Building, PICC Complex

Roxas Boulevard, Pasay City

 

Attention:  Mr. Vicente Graciano P. Felizmenio, Jr.

Director – Markets and Securities Regulation Dept.

 

Gentlemen:

 

In accordance with Section 17.1 (b) of Securities Regulation Code and SRC Rule 17.1.1.1.3(a), we submit herewith two (2) copies of SEC Form 17-C with a press release attached thereto regarding the Company’s consolidated financial results as at and for the year ended December 31, 2019.

 

 

Very truly yours,

 

 

/s/Florentino D. Mabasa, Jr.

FLORENTINO D. MABASA, JR.

Assistant Corporate Secretary

 


 

 

 


 

 

 

COVER SHEET

 

SEC Registration Number

P

W

-

5

5

 

 

 

 

 

 

Company Name

P

L

D

T

 

I

N

C.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal Office (No./Street/Barangay/City/Town/Province)

R

A

M

O

N

 

C

O

J

U

A

N

G

C

O

 

B

U

I

L

D

I

N

G

 

 

 

 

 

 

 

M

A

K

A

T

I

 

A

V

E

N

U

E

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M

A

K

A

T

I

 

C

I

T

Y

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form Type

 

 

 

Department requiring the report

 

 

 

Secondary License Type, If Applicable

 

 

17

-

C

 

 

 

 

 

 

 

 

M

S

R

D

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPANY INFORMATION

 

Company’s Email Address

 

Company’s Telephone Number/s

 

Mobile Number

 

 

 

 

88168534

 

 

 

 

 

No. of Stockholders

 

Annual Meeting
Month/Day

 

Fiscal Year
Month/Day

 

 

11,593

As of January 31, 2020

 

Every 2nd Tuesday of June

 

December 31

 

CONTACT PERSON INFORMATION
The designated contact person MUST be an Officer of the Corporation

Name of Contact Person

 

Email Address

 

Telephone Number/s

 

Mobile Number

June Cheryl C. Revilla

 

jacabal@pldt.com.ph

 

88168534

 

 

 

Contact Person’s Address

MGO Building, Legaspi St. corner Dela Rosa St., Makati City

 

Note:  In case of death, resignation or cessation of office of the officer designated as contact person, such incident shall be reported to the Commission within thirty (30) calendar days from the occurrence thereof with information and complete contact details of the new contact person designated.

 

 

 

 

 

 

 


 

 

 

 

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

 

CURRENT REPORT UNDER SECTION 17

OF THE SECURITIES REGULATION CODE

AND SRC RULE 17.1

 

 

 

1.

March 5, 2020

Date of Report (Date of earliest event reported)

 

2.

SEC Identification Number PW-55

 

3.

BIR Tax Identification No. 000-488-793

 

4.

PLDT INC.

Exact name of issuer as specified in its charter

 

5.

PHILIPPINES6.____________ (SEC Use Only)  

Province, country or other jurisdictionIndustry Classification Code

of Incorporation

 

7.Ramon Cojuangco Building, Makati Avenue, Makati City1200

Address of principal officePostal Code

 

8.(632) 8816-8534

Issuer's telephone number, including area code

 

9.Not Applicable

Former name or former address, if changed since last report

 

10.

Securities registered pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4 and 8 of the Revised Securities Act

 

Title of Each Class

Number of Shares of Common Stock

Outstanding and Amount of Debt Outstanding

 

________________________________________________________________

________________________________________________________________

________________________________________________________________

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

PLDT press release

 

 

PLDT network investments lift revenues, income in 2019

 

PLDT first telecoms operator in the world and

the first company in the Philippines to become an alliance member of the SASB (Sustainability Accounting Standards Board)

 

PLDT first Philippine telco to join the TCFD

(Task Force on Climate-related Financial Disclosures)

 

PLDT and Smart are registered as Participants in the UNGC (United Nations Global Compact) -- committed on a global level

 

Sustainability Program underpins PLDT’s long-running CSR programs

 

 

 

MANILA, Philippines 5th March 2020 -- Enabled by a record-high capital expenditures (capex) in 2019 of P72.9 billion, PLDT significantly raised its service quality levels, particularly in data and digital services, and consequently boosted service revenues to their highest level ever.  P61.0 billion capex were spent in 2019 on network and IT expansion and transformation programs, the balance of P11.9 billion for the installation of broadband connections.

“This sustained level of investments in the country’s telecommunications infrastructure now totals P257.7 billion in the last five years.  But to raise even further our service quality standards and attain unmatched customer experience (CX), PLDT has allocated a larger capex budget of P83.0 billion for 2020.  This will allow us to serve better the fast-growing data usage of our customers and continue to provide superior data CX.  Of this amount, P64.6 billion are earmarked for network and IT projects, mainly to support the explosive growth in data traffic.  In addition, P18.5 billion, inclusive of P5.5 billion carried over from 2019, are to be spent for broadband installations, which are projected to grow strongly in 2020,” said Manuel V. Pangilinan, Chairman, President and Chief Executive Officer of PLDT

The improvement in the reach, coverage and quality of PLDT’s networks and the data services they deliver were validated by user-based studies undertaken by several international internet analytics firms which found, once again, that Smart and PLDT

 

 

 


 

 

 

provided the fastest fixed and mobile Internet services in the country, as well as having the widest mobile coverage.

The impact of these service improvements on PLDT’s financial performance has been strongly positive.  As per its financial and operating results for 2019, PLDT’s Consolidated Service Revenues (net of interconnection costs) rose 8% to P157.7 billion. This is the highest full year revenue PLDT has attained, surpassing the previous peak of P153.5 billion in 2014.

Consolidated EBITDA grew 22% year-on-year to P83.1 billion, excluding MRP (Manpower Reduction Program) expenses of P3.3 billion, driven by higher service revenues and lower cash operating expenses.  The EBITDA margin improved from 45% in 2018 to 52% in 2019.

PLDT’s Telco Core Income (which excludes the impact of asset sales and Voyager Innovations) climbed 13% to P27.1 billion, while Reported Net Income (which includes exceptional costs) jumped 19% to P22.5 billion.

In terms of major business units, the Consumer Wireless Group led the way, boosting revenues by 20% to P72.1 billion.  The Enterprise Group posted steady growth, increasing revenues by 5% to P39.2 billion, while PLDT Home grew to P37.2 billion, up 3% from the previous year.  These three business units combined accounted for 94% of service revenues and registered an 11% revenue growth year-on-year.

Data and broadband services continued to power revenue growth, rising 20% to P105.2 billion and now account for 67% of total revenues.

Consolidated Net Debt amounted to US$3,309 million whilst net-debt-to-EBITDA stood at 2.0x.  Gross Debt was US$3,800 million, with maturities well spread out.  Only 9% of the Gross Debt was denominated in US dollars and 8% unhedged, taking into account hedges and available US dollar cash allocated for debt.  PLDT has maintained its credit ratings at investment grade.

In line with PLDT’s dividend policy of paying out 60% of its telco core earnings, a final cash dividend of P39 per share will be paid out on April 3, 2020 to shareholders on record as of March 19, 2020.  An interim dividend of P36 per share had been paid in September 2019, bringing total dividends paid for 2019 to P75 per share.

“Despite continuing challenges, 2019 was a productive year, with revenues reaching record levels on the back of robust growth of our consumer wireless business.  This was achieved in large part by making the needed investments in our data and IT networks.  Moving forward, we shall continue pursuing a focused investment program to further improve our services, and consequently raise the level of customer experience,” added Pangilinan.

 

 

 

 

 

 

 


 

 

 

 

 

 

 

Building the Country’s Digital Backbone

In 2019, PLDT and Smart further strengthened their network advantage.  PLDT expanded its fixed network rollout by 15%, reaching 7.2 million homes passed by end-2019.  The total capacity increased 34% to 3.5 million ports, of which about 1.8 million fiber/VVDSL ports were available for new customers.

The total footprint of PLDT’s fiber optic network grew 32% to 322,400 kilometers – the country’s most extensive digital backbone/transport network infrastructure.

Smart’s mobile network further increased its coverage and data service capacity.  It increased the number of its LTE or 4G base stations by 51% to about 24,600 and augmented the number of 3G base stations by 19% to 13,800.  As a result, Smart’s mobile coverage expanded to 94% of the country’s population by end-December 2019.

The emphasis on rolling out the 4G/LTE network has been justified by its ability to provide much better internet services.  The impact of the 4G rollout has been enhanced by the simultaneous activation of the carrier aggregation feature of LTE -- through which the capacity of up to five LTE base stations are combined to deliver faster data speeds.

Several international internet analytics firms recognized the beneficial results of these network improvement efforts:

 

Global leader in Internet testing and analysis Ookla cited PLDT and Smart for having the fastest fixed network and fastest wireless network respectively in the Philippines in its two reports covering the first and second halves of 2019.
 

 

Smart won the “Best in Test award for 2019” and was cited for having the best and widest 4G/LTE coverage and the fastest upload and download speeds by umlaut, the global internet benchmarking company formerly known as P3.
 

 

International mobile data analytics firm Opensignal reported that Smart not only provided the country’s best mobile video and fastest data experience but also overtook its competitor in 4G availability in both urban and rural areas. 

“Our sustained network improvement efforts over the past several years have given us the crucial advantage – enabling us to offer compelling data service offers that address our customers’ passions and pain points.  This has powered our current revenue growth and is positioning us well for the future, including our ongoing preparations for 5G,” said Alfredo S. Panlilio, Smart President/CEO and PLDT Chief Revenue Officer.

In 2019, Smart conducted several pilot deployments of 5G with various equipment suppliers.  It fired up 5G base stations for ongoing pilots in various settings:  at PLDT’s office in the Makati business district, in an academic setting (within the Ateneo Campus),

 

 

 


 

 

 

in a lifestyle hub (at the Araneta City in Quezon City), and in a smart city setting (Clark City, Pampanga).   It also continues to explore various applications and business cases, including e-sports and mobile games.  Meantime, PLDT has partnered with Cisco to transform its transport network into a fully automated, all IP, software-defined 5G-ready infrastructure.


The GIGA experience powers Consumer Wireless growth

The rapid rise of mobile data usage and revenues was critical to the strong performance of the Consumer Wireless business in 2019.   Consumer wireless revenues increased by P11.8 billion or 20% from 2018 to P72.1 billion.  The share of mobile data revenues increased from 59% in 2018 to 69%.

This was the product of a massive rise in mobile data traffic which jumped to 1.6 Exabyte – double the volume registered in 2018 and four times that of 2017.  This was made possible by Smart’s improved LTE/3G mobile data service which ably supported the growing data habit of Smart, TNT and Sun customers, and the larger number of LTE and 3G smartphones on the network.

Mobile data usage grew rapidly on the back of Smart’s GIGA data service offers that addressed customers growing demand for various internet services.  GIGA started in 2018 with video packages that offered free Youtube as well as other popular video services.  This was followed in 2019 by other GIGA data packages that bundled mobile games such as Mobile Legends and then later, data packages which bundled social media apps like Facebook, Instagram, and TikTok.

All this had a major, positive impact on customer experience. In addition to the awards given by independent internet testing firms, our NPS (Net Promoter Score), a measure of customer satisfaction, saw improvement across all brands in Q4 2019 with Smart up from 50% in Q4 2018 to 60%; TNT up from 54% to 76%, and Sun up from 46% to 75%.

“Moving forward, we aim to further improve the experience of our customers by helping them to shift to LTE handsets and SIMs and by providing increasingly rich GIGA data offers that enable people to effectively address their various life needs all through the mobile phone in their hands,”  said Jane J. Basas, Senior Vice President for Consumer Individual Wireless Business, Smart Communications.

 


Smart solutions for Enterprise

The Enterprise Group continued to achieve steady growth, with revenues rising 5% to P39.2 billion. The growth was powered largely by robust demand for broadband data in

 

 

 


 

 

 

fixed line and wireless.  Fixed line revenues grew to P28.6 billion, up 3%. The wireless business increased 7% reaching P6.4 billion.

However, ICT services were the fastest growing part of the Enterprise business. PLDT Enterprise’s ICT business grew nearly double the market pace at 15%, with revenues hitting P4.3 billion. PLDT continues to have the largest data center rack capacity in the Philippines with 10 VITRO data centers;  5 of which are fully-occupied, with the remaining activated capacity now at 69% utilization.     As more companies pivot to digital, the need for business solutions beyond connectivity is becoming even more pressing.

In the last few years, the Enterprise Business group has been building and curating digital services for all kinds of business – micro businesses, SMEs, and large companies. This includes a suite of data center, IoT (Internet of Things), Cloud and Cyber Security offerings that have already started to gain significant traction. All of these services are anchored on business-grade Fiber connectivity.

Foreign companies keen on doing business in the Philippines have also taken notice of the wide range of solutions offered by PLDT Enterprise. ICT revenues from servicing companies in Hong Kong, China, Singapore, US, and more registered 50% year-on-year growth.

“The future growth of the Enterprise business lies in providing relevant solutions that enable companies and organizations to design and execute their own digital pivot.  To do that, we continuously adjust our organization so that we can provide the industry and domain expertise that customers expect.  In the end, we want to make a positive impact on every single business,” said Jovy Hernandez, Senior Vice President for Enterprise of PLDT and Smart.

 

PLDT HOME gears up for a stronger 2020

PLDT Home grew 3% in 2019, with revenues reaching P37.2 billion.  Growth for the full year was held back by its requisite adjustments to the repair and installation processes for fixed line broadband.  These changes began to generate a pick-up in new connects and repair work in the Q4 of 2019, which bode well for prospects in 2020.

Fiber-to-the-home (FTTH) continued to be PLDT Home’s flagship product.  But this is now complemented with a refreshed fixed wireless offering, initially for prepaid, which was relaunched in late 2019.  The initial response of customers has been very encouraging.  A postpaid fixed wireless product is due to be launched in the first half of 2020.

 

 

 

 

 

 


 

 

 

 

PLDT Home’s fixed wireless service runs on the award-winning 4G/LTE network of Smart.  It provides a fast, easy-to-install data services, particularly in areas where PLDT’s FTTH service is not yet available.

To better position itself for 2020, the PLDT Home team doubled down on optimizing internal processes and systems to address customer experience issues with installation and repair.

“We are putting the valuable lessons learned in 2019 to good use in 2020.  This is enabling us to progress steadily towards our goal of delivering the best service levels to our Home customers.  Moreover, the addition of fixed wireless broadband to our menu of services gives us a powerful, flexible tool and a full range of broadband products for the home to address customer needs and grow our revenues,” said Menardo G. Jimenez, Jr., Senior Vice President, PLDT Home.

 

Building a Sustainable Future

By building the country’s most extensive digital infrastructure, PLDT is making major contributions to the sustainable development of the country.  This effort addresses the 9th Sustainable Development Goal defined by the United Nations – Industry Innovation and Infrastructure, which includes developing data networks that provide people access to the internet and digital services.

In 2019, PLDT further strengthened its sustainability efforts by establishing the PLDT Sustainability Office.  The new office has been given the task of helping develop the Group’s business operations and corporate social responsibility (CSR) activities in ways that not only ensure its continued success but also help create a sustainable future for the country.

To pursue this objective, PLDT has joined 3 distinguished global organizations for sustainability:

 

SASB (Sustainability Accounting Standards Board): where PLDT is the first telecoms operator in the world and the first company in the Philippines to become an alliance member.

 

TCFD (Task Force on Climate-related Financial Disclosures): where PLDT is the first Philippine telco to join.

 

UNGC (United Nations Global Compact): where PLDT and Smart are registered as Participants committed on a global level, higher than Signatories limited to local engagement, to integrate principles on environment, human rights,

 

labor and anti-corruption.

 

 

 

 

 


 

 

 

 

 

Meantime, PLDT has already started to roll out several programs such as carbon offsetting initiatives through reforestation, mangroves conservation, marine protection, & peatlands protection.   For example, PLDT has partnered with the UP Marine Environment and Resources Foundation (MERF) and the Marine Science Institute of the Philippines (UPMSI) to support efforts to regenerate and rehabilitate 24 marine protected areas in various parts of the country that would protect marine life by empowering and capacitating local communities on coastal and marine environment management and help curb global warming by enabling these areas to act as effective carbon sinks.

The Group’s sustainability program thus provides a strategic framework for its long-running CSR programs in the fields of education, environmental protection, disaster preparedness, livelihood and sports development.

 

 

CONCLUSION

“A key principle of sustainability is the adoption of the long-term view.   It is important to keep this in mind as we face the heightened uncertainties caused by unforeseeable developments at home, such as the Taal volcano eruption, and abroad such as the COVID-19 outbreak.  Under these circumstances, we must stay focused on the essentials, on the factors that provide the foundation for continued growth.  Clearly, for PLDT, this means delivering the best quality service to our customers.  To achieve this in these times of rapidly advancing technologies, we must continue investing in our networks and transforming our processes and our people.  Through this, we should be able to sustain the strong growth of our consumer wireless business, and also boost the revenues of our equally important Enterprise and Home businesses.  

“At this time, given the prevailing uncertainties, it is difficult to provide specific earnings guidance for 2020.  We shall provide firm numbers when we have a better view of developments in the coming months.  Our dividend policy remains, providing a regular payout amounting 60% of telco core income,” Pangilinan said.

###

 

 

 


 

 

 


 

 

 

 

 

PLDT Consolidated

 

 

 

 

For the Full Year

 

 

(Php in mn)

 

2019

2018*

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

   169,187

   162,914

4%

 

 

 

 

 

 

 

 

 

Service revenues (a)

 

  161,355

  152,369

6%

 

 

 

 

 

 

 

 

 

Expenses (b)

 

   129,786

   149,141

(13%)

 

 

 

 

 

 

 

 

 

EBITDA (c)

 

     83,111

     68,262

22%

 

 

EBITDA Margin

 

52%

46%

 

 

 

 

 

 

 

 

 

 

Income before Income Tax

 

     32,336

     22,815

42%

 

 

 

 

 

 

 

 

 

Provision for Income Tax

 

      9,550

      3,842

149%

 

 

 

 

 

 

 

 

 

Net Income - Attributable to Equity Holders of PLDT

 

     22,521

     18,916

19%

 

 

 

 

 

 

 

 

 

Telco Core Income (d)

 

     27,080

     24,047

13%

 

 

 

 

 

 

 

 

 

*2018 Includes Voyager, except for EBITDA and Telco Core

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Service Revenues, gross of interconnection costs

 

 

 

 

Service Revenues, gross of interconnection costs

      161,355

      152,369

6%

 

 

Interconnection costs

 

          3,638

          5,493

(34%)

 

 

Service Revenues, net of interconnection costs

 

      157,717

      146,876

7%

 

 

 

 

 

 

 

 

 

(b) Expenses includes Interconnection Costs

 

(c) EBITDA excluding the MRP expenses booked in FY2019 (P3.3bn) and FY2018 (P1.7bn) and Voyager in FY2018

(d) Net income as adjusted for the net effect of gain/loss on FX, derivative transactions, MRP, accelerated depreciation, asset sales and share in Voyager losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

PLDT INC. AND SUBSIDIARIES

 

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

As at December 31, 2019 and 2018

(in million pesos)

 

 

 

2019

 

2018

ASSETS

Noncurrent Assets

 

 

 

 

Property and equipment

 

232,134

 

195,964

Right-of-use assets

 

15,890

 

Investments in associates and joint ventures

 

53,863

 

55,427

Financial assets at fair value through profit or loss

 

3,369

 

4,763

Debt instruments at amortized cost – net of current portion

 

 

150

Investment properties

 

778

 

777

Goodwill and intangible assets

 

67,834

 

68,583

Deferred income tax assets – net

 

23,623

 

27,697

Derivative financial assets – net of current portion

 

1

 

140

Prepayments – net of current portion

 

48,933

 

23,338

Financial assets at fair value through other comprehensive income – net of current portion

 

162

 

2,749

Contract assets – net of current portion

 

750

 

1,083

Other financial assets – net of current portion

 

1,986

 

2,275

Other non-financial assets – net of current portion

 

136

 

230

Total Noncurrent Assets

 

449,459

 

383,176

Current Assets

 

 

 

 

Cash and cash equivalents

 

24,369

 

51,654

Short-term investments

 

314

 

1,165

Trade and other receivables

 

22,436

 

24,056

Inventories and supplies

 

3,412

 

2,878

Current portion of contract assets

 

1,997

 

2,185

Current portion of derivative financial assets

 

41

 

183

Current portion of debt instruments at amortized cost

 

150

 

Current portion of prepayments

 

11,298

 

8,380

Current portion of financial assets at fair value through other comprehensive income

 

2,757

 

1,604

Current portion of other financial assets

 

8,086

 

7,008

Current portion of other non-financial assets

 

717

 

461

Total Current Assets

 

75,577

 

99,574

TOTAL ASSETS

 

525,036

 

482,750

 

 

 

 

 

EQUITY AND LIABILITIES

Equity

 

 

 

 

Non-voting serial preferred stock

 

360

 

360

Voting preferred stock

 

150

 

150

Common stock

 

1,093

 

1,093

Treasury stock

 

(6,505)

 

(6,505)

Treasury shares under employee benefit trust

 

(394)

 

(854)

Capital in excess of par value

 

130,321

 

130,526

Other equity reserves

 

276

 

697

Retained earnings

 

18,063

 

12,081

Other comprehensive loss

 

(31,368)

 

(25,190)

Total Equity Attributable to Equity Holders of PLDT

 

111,996

 

112,358

Noncontrolling interests

 

4,303

 

4,308

TOTAL EQUITY

 

116,299

 

116,666

 

 

 

 

 

 

 

 

 


 

 

 

PLDT INC. AND SUBSIDIARIES

 

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (continued)

As at December 31, 2019 and 2018

(in million pesos)

 

 

 

2019

 

 

2018

 

Noncurrent Liabilities

 

 

 

 

 

 

 

 

Interest-bearing financial liabilities – net of current portion

 

 

172,834

 

 

 

155,835

 

Lease liabilities – net of current portion

 

 

13,100

 

 

 

 

Deferred income tax liabilities

 

 

2,583

 

 

 

2,981

 

Derivative financial liabilities – net of current portion

 

 

25

 

 

 

 

Customers’ deposits

 

 

2,205

 

 

 

2,194

 

Pension and other employee benefits

 

 

8,985

 

 

 

7,182

 

Deferred credits and other noncurrent liabilities

 

 

4,557

 

 

 

5,284

 

Total Noncurrent Liabilities

 

 

204,289

 

 

 

173,476

 

Current Liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

 

77,845

 

 

 

74,610

 

Accrued expenses and other current liabilities

 

 

100,815

 

 

 

95,724

 

Current portion of interest-bearing financial liabilities

 

 

19,722

 

 

 

20,441

 

Current portion of lease liabilities

 

 

3,215

 

 

 

 

Dividends payable

 

 

1,584

 

 

 

1,533

 

Current portion of derivative financial liabilities

 

 

88

 

 

 

80

 

Income tax payable

 

 

1,179

 

 

 

220

 

Total Current Liabilities

 

 

204,448

 

 

 

192,608

 

TOTAL LIABILITIES

 

 

408,737

 

 

 

366,084

 

TOTAL EQUITY AND LIABILITIES

 

 

525,036

 

 

 

482,750

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

PLDT INC. AND SUBSIDIARIES

 

CONSOLIDATED INCOME STATEMENTS

For the Years Ended December 31, 2019, 2018 and 2017

(in million pesos, except earnings per common share amounts which are in pesos)

 

 

 

2019

 

 

2018

 

 

2017

 

REVENUES

 

 

 

 

 

 

 

 

 

 

 

 

Service revenues

 

 

161,355

 

 

 

152,369

 

 

 

150,172

 

Non-service revenues

 

 

7,832

 

 

 

10,545

 

 

 

8,761

 

 

 

 

169,187

 

 

 

162,914

 

 

 

158,933

 

EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

68,230

 

 

 

73,916

 

 

 

68,990

 

Depreciation and amortization

 

 

39,656

 

 

 

47,240

 

 

 

51,915

 

Cost of sales and services

 

 

13,429

 

 

 

14,427

 

 

 

13,633

 

Asset impairment

 

 

4,833

 

 

 

8,065

 

 

 

8,258

 

Interconnection costs*

 

 

3,638

 

 

 

5,493

 

 

 

6,626

 

 

 

 

129,786

 

 

 

149,141

 

 

 

149,422

 

 

 

 

39,401

 

 

 

13,773

 

 

 

9,511

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INCOME (EXPENSES) – NET

 

 

(7,065

)

 

 

9,042

 

 

 

5,058

 

INCOME BEFORE INCOME TAX

 

 

32,336

 

 

 

22,815

 

 

 

14,569

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROVISION FOR INCOME TAX

 

 

9,550

 

 

 

3,842

 

 

 

1,103

 

NET INCOME

 

 

22,786

 

 

 

18,973

 

 

 

13,466

 

ATTRIBUTABLE TO:

 

 

 

 

 

 

 

 

 

 

 

 

Equity holders of PLDT

 

 

22,521

 

 

 

18,916

 

 

 

13,371

 

Noncontrolling interests

 

 

265

 

 

 

57

 

 

 

95

 

 

 

 

22,786

 

 

 

18,973

 

 

 

13,466

 

Earnings Per Share Attributable to Common Equity Holders of PLDT

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

103.97

 

 

 

87.28

 

 

 

61.61

 

Diluted

 

 

103.97

 

 

 

87.28

 

 

 

61.61

 

 

For the years ended December 31, 2019 and 2018, the total service and non-service revenues pertains to revenue from contracts with customers.

*

Certain amounts in 2018 and 2017 were adjusted to reflect the effects in income and expenses.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

This press release may contain some statements which constitute “forward-looking statements” that are subject to a number of risks and uncertainties that could affect PLDT’s business and results of operations. Although PLDT believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events.

 

 

For further information, please contact:

 

Anabelle L. Chua Melissa V. Vergel de Dios                       Ramon R. Isberto

Tel No: 8816-8213                      Tel No: 8816-8024                             Tel No: 8511-3101

 

 

 

About PLDT

PLDT is the leading telecommunications provider in the Philippines. Through its principal business groups – fixed line and wireless– PLDT offers a wide range of telecommunications services across the Philippines’ most extensive fiber optic backbone and fixed line, and mobile network.

 

PLDT is listed on the Philippine Stock Exchange (PSE: TEL) and its American Depositary Shares are listed on the New York Stock Exchange (NYSE:PHI).  PLDT has one of the largest market capitalizations among Philippine listed companies.

 

Further information can be obtained by visiting the web at www.pldt.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

Signatures

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

 

PLDT Inc.

 

 

 

By

:

/s/Florentino D. Mabasa, Jr.

Name

:

FLORENTINO D. MABASA, JR.

Title

:

Assistant Corporate Secretary

 

 

 

Date:  March 5, 2020

 

 

 

 

 

 

 

 

 

phi-ex992_7.htm

 

 

 

 

 

Exhibit 99.2

 

 

 

 

Exhibit No.

 

Exhibits

 

 

 

 

 

 

 

99.2

 

 

Annual Meeting of Stockholders of the Company (date of meeting, record date, last day for receiving nominations for election of directors/independent directors, last day for receiving proxies, date of validation of proxies); and

 

 

 

 

 

 

 

Cash dividend declaration on the Company’s Common Stock and Voting Preferred Stock.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 


 

 

 

 

 

 

March 5, 2020

 

 

Philippine Stock Exchange

6/F Philippine Stock Exchange Tower

28th Street corner 5th Avenue

Bonifacio Global City, Taguig City

 

Attention:  Ms. Janet A. Encarnacion

Head, Disclosure Department

 

Gentlemen:

 

In compliance with Section 17.1 (b) of the Securities Regulation Code and SRC Rule 17.1.1.1.3(b).2, we submit herewith a copy of SEC Form 17-C with respect to certain discloseable events/information.

 

This shall also serve as the disclosure letter for the purpose of complying with the PSE Revised Disclosure Rules.

 

 

Very truly yours,

 

 

/s/ Florentino D. Mabasa, Jr.

FLORENTINO D. MABASA, JR.

Assistant Corporate Secretary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Page 1 of 6

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

March 5, 2020

 

 

SECURITIES & EXCHANGE COMMISSION

Secretariat Building, PICC Complex

Roxas Boulevard, Pasay City

 

Attention:  Mr. Vicente Graciano P. Felizmenio, Jr.

Director – Markets and Securities Regulation Dept.

 

Gentlemen:

 

In compliance with Section 17.1 (b) of the Securities Regulation Code and SRC Rule 17.1.1.1.3(a), we submit herewith two (2) copies of SEC Form 17-C with respect to certain discloseable events/information.

 

 

Very truly yours,

 

 

/s/ Florentino D. Mabasa, Jr.

FLORENTINO D. MABASA, JR.

Assistant Corporate Secretary

 

 

 

 

 

 

 

 

 

                                                                 Page 2 of 6

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

COVER SHEET

 

SEC Registration Number

P

W

-

5

5

 

 

 

 

 

 

Company Name

P

L

D

T

 

I

N

C.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal Office (No./Street/Barangay/City/Town/Province)

R

A

M

O

N

 

C

O

J

U

A

N

G

C

O

 

B

U

I

L

D

I

N

G

 

 

 

 

 

 

 

M

A

K

A

T

I

 

A

V

E

N

U

E

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

M

A

K

A

T

I

 

C

I

T

Y

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Form Type

 

 

 

Department requiring the report

 

 

 

Secondary License Type, If Applicable

 

 

17

-

C

 

 

 

 

 

 

 

 

M

S

R

D

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPANY INFORMATION

 

Company’s Email Address

 

Company’s Telephone Number/s

 

Mobile Number

 

 

 

 

88168553

 

 

 

 

 

No. of Stockholders

 

Annual Meeting
Month/Day

 

Fiscal Year
Month/Day

 

 

11,593

As of January 31, 2020

 

Every 2nd Tuesday of June

 

December 31

 

CONTACT PERSON INFORMATION
The designated contact person MUST be an Officer of the Corporation

Name of Contact Person

 

Email Address

 

Telephone Number/s

 

Mobile Number

Ma. Lourdes C. Rausa-Chan

 

lrchan@pldt.com.ph

 

88168553

 

 

 

Contact Person’s Address

MGO Building, Legaspi St. corner Dela Rosa St., Makati City

 

Note:  In case of death, resignation or cessation of office of the officer designated as contact person, such incident shall be reported to the Commission within thirty (30) calendar days from the occurrence thereof with information and complete contact details of the new contact person designated

 

 

 

                                                     Page 3 of 6

 

 

 

 

 


 

 

 

 

 

 

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

CURRENT REPORT UNDER SECTION 17

OF THE SECURITIES REGULATION CODE

AND SRC RULE 17.1

 

 

 

1.

March 5, 2020

Date of Report (Date of earliest event reported)

 

2.

SEC Identification Number PW-55

 

3.

BIR Tax Identification No. 000-488-793

 

4.

PLDT Inc.

Exact name of issuer as specified in its charter

 

5.

PHILIPPINES6.____________ (SEC Use Only)  

Province, country or other jurisdictionIndustry Classification Code

of Incorporation

 

7.Ramon Cojuangco Building, Makati Avenue, Makati City1200

Address of principal officePostal Code

 

8.(632) 8816-8553

Issuer's telephone number, including area code

 

9.Not Applicable

Former name or former address, if changed since last report

 

10.

Securities registered pursuant to Sections 8 and 12 of the Securities Regulation Code and Sections 4 and 8 of the Revised Securities Act

 

Title of Each Class

Number of Shares of Common Stock

Outstanding and Amount of Debt Outstanding

________________________________________________________________

________________________________________________________________

________________________________________________________________

 

                                                  Page 4 of 6

 

 

 


 

 

 

 

 

 

 

 

11.  Item 9 (Other Events)

 

We disclose that at the meeting of the Board of Directors of PLDT Inc. (respectively, the “Board” and the “Company”) held on March 5, 2020:

 

1.

The Board approved or confirmed the following items in connection with the Annual Meeting of Stockholders for 2020:

 

 

(a)

The Annual Meeting of Stockholders of the Company will be held on June 9, 2020 at 3:00 o’clock p.m. in Makati City, Philippines (the “Annual Meeting”). Per the By-Laws of the Company, the annual meeting of stockholders shall be held on the second Tuesday in June.

 

(b)

The record date for the determination of stockholders entitled to notice of and to vote at the Annual Meeting is April 13, 2020. The stock and transfer books of the Company will not be closed.

 

(c)

The last day for filing proxies in connection with the Annual Meeting is on June 2, 2020.

 

(d)

The validation of proxies in connection with the Annual Meeting will be done on June 4, 2020.

 

(e)

In accordance with the Company’s By-Laws, the nominations for election of directors/independent directors at the Annual Meeting shall be submitted to the Board of Directors through the President or Corporate Secretary at the Company’s principal place of business at least sixty (60) working days before the meeting or by March 12, 2020.

 

The notice, agenda and other materials required to be distributed to the stockholders in connection with the Annual Meeting will be submitted to the Securities and Exchange Commission and the Philippine Stock Exchange in accordance with the applicable rules.

 

2.

The Board declared the following cash dividends out of the unrestricted retained earnings of the Company as at December 31, 2019, which are sufficient to cover the total amount of dividends declared:

 

 

a.

Final regular dividend of ₱39.00 per outstanding share of the Company’s Common Stock, payable on April 3, 2020 to the holders of record on March 19, 2020.

 

 

b.

2,437,500.00 on all of the outstanding shares of the Company’s Voting Preferred Stock for the quarter ending April 15, 2020, payable on April 15, 2020, to the holder of record on March 25, 2020

 

 

 

 

                                                                           Page 5 of 6

 

 

 

 

 

 


 

 

 

 

 

 

 

 

Pursuant to the requirements of the Securities Regulation Code, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

PLDT INC.

 

By:

 

/s/ Florentino D. Mabasa, Jr.

FLORENTINO D. MABASA, JR.

Assistant Corporate Secretary

 

March 5, 2020

 

 

 

 

 

 

 

                                   Page 6 of 6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

Signatures

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

 

 

PLDT Inc.

 

 

 

By

:

/s/ Florentino D. Mabasa, Jr.

Name

:

FLORENTINO D. MABASA, JR.

Title

:

Assistant Corporate Secretary

 

Date:  March 5, 2020