Just got word that the net income PLDT, or the Philippine Long Distance Compny (TEL), for its consolidated services was pulled down 4% as of end of 2008.
This amounted to a consolidated net profit of P34.6 B, diving down fromthe previous year's P36 B total. Majority of the decline is being attributed to a drain in cash flow for investments made in SPI Technologies and largely to the P1.6 B foreign exchange losses. SPI Technologies is now the knowledge-processing arm of PLDT and was able to generate total revenues for 2008 amounting to P5.6 B.
Consolidated services revenues were actually up 5% mainly because of the increased demand in wireless services, data and ePLDT services. Consolidated EBITDA (Earnings Before Income Taxes Depreciation and Amortization) improved to P87.6 B while its margin remained at 61%.
Smart was reported to have increased subscriber base by 560,000 in 2008, while Talk N Text subscribers swelled by 4.6 million. They now have a total of 20.9 and 14.3 million subscribers respectively.
PLDT's consolidated liquid cash flow for the previous year remained robust at P47.9 B while consolidated CAPEX (Capital Expenditures) remained at P25.2 B, just a little under the P27 B guidance provided in early 2008. The P1.8 B difference is mainly attributable to the maintenance projects of its Fixed Line business and is expected to be brought forward to 2009.
The consolidated Net Debt vs EBITDA was 0.4 while the Net Debt to Free Cash Flow ratio was logged as 0.8.
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