PLDT, Inc. · PSE:TEL

PLDT — H1 2019 Earnings Presentation

64 slides from PLDT's earnings presentation, August 2019

  1. Slide 1: 2019 First Half Financial and Operating Results

    2019 FIRST HALF FINANCIAL AND OPERATING RESULTS 1

  2. Slide 2: PLDT Group: 1H 2019 Financial Highlights

    PLDT Group: 1H 2019 Financial Highlights (in Php) 1H 2019 vs 1H 2018* Service Revenues 7% (net of interconnection costs) 76.7bn +4.8bn Individual 34.4bn 20% 45% +5.8bn Home 18.3bn +2% 24% +0.4bn 49% Enterprise 19.4bn +6% 25% +1.2bn Total Individual, 72.1bn 11% Home and Enterprise 94% +7.3bn Internat

  3. Slide 3: PLDT Group: Capital Management

    PLDT Group: Capital Management Interim Record Date: Payment Date: Cash Dividend Declared: P36/share 27 August 2019 10 September 2019 8 August 2019  In line with PLDT’s dividend policy: 60% of 2019 telco core earnings of P13.2bn Core EPS P61 Dividends per share P36 Interim Dividend (2019) Dividend P

  4. Slide 4: Consolidated Service Revenues

    Consolidated Service Revenues (Php in bn) Acceleration from FY18: 2% yoy growth 7% 2% +4.8 +1.3 Y-o-Y 73.8 76.6 71.6 71.8 4.4 -36% 70.5 4.9 8.2 7.8 6.9 18.3 +2% 18.2 15.8 17.2 18.0 19.4 +6% 19.1 17.1 17.7 18.2 34.4 +20% 29.3 29.0 28.6 31.6 1H17 2H17 1H18 2H18 1H19 142.1 145.6 International Home Ente

  5. Slide 5: Historical Service Revenues

    Historical Service Revenues (Php in bn) 77.8 77.1 76.1 76.6 75.7 76.3 75.5 76.6 73.9 71.3 71.7 71.9 2.4 10.3 9.3 8.7 6.8 5.9 70.6 2.9 9.7 7.4 5.2 4.0 3.4 4.5 71.1 74.3 67.5 67.9 67.6 68.1 69.3 69.7 67.8 68.5 65.9 66.1 66.0 1H13 2H13 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 153.4 153.5

  6. Slide 6: Consolidated Service Revenues

    Consolidated Service Revenues (Php in bn) Acceleration from FY18: 2% yoy growth 1H19: 76.6 7% 7% 3% +3% gross of 1H18: 71.8 +4.8 2% interconnect +2.4 +1.0 Y-o-Y 37.6 37.9 38.7 35.7 35.9 35.5 36.3 36.2 2.3 -34% 35.5 35.2 35.2 2.2 2.1 3.7 3.5 2.7 4.8 4.2 4.0 4.1 3.5 9.1 9.1 9.2 +1% 9.1 9.1 7.8 8.0 8.5

  7. Slide 7: 1H2019 Service Revenues: Data now 65% of total revenues

    1H2019 Service Revenues: Data now 65% of total revenues (Php in bn) 1H19 vs 1H18 (1) P76.7bn 149.4bn 7% +4.8 Data and broadband Domestic voice SMS International voice (fixed and mobile) (fixed and mobile) 149.4bn 19% 149.4bn 7% 149.4bn 14% 149.4bn 29% 49.6bn (2) 20.2bn 4.5bn 2.4bn +8.0 -1.4 -0.7 -1.

  8. Slide 8: Consolidated EBITDA (ex-MRP): Sustained double digit growth

    Consolidated EBITDA (ex-MRP): Sustained double digit growth (Php in billions) 15% FY18: Lower by 1% y-o-y +5.2 Higher Higher Lower Subsidies cost Reduction Higher Cash & of in rent svc Opex Prov services expense rev* +4.8 +1.3 -0.4 -0.5 40.0 (3.1) 34.7 36.8 PFRS16 impact 1H18 1H19 1H19 (ex-Voyager)

  9. Slide 9: PLDT Group: Consolidated EBITDA (ex-MRP)

    PLDT Group: Consolidated EBITDA (ex-MRP) (Php in bn) 15% 149.4bn 15% FY18: Lower by 1% y-o-y 1H19: 40.0 15% +2.5 1H18: 34.7 +5.2 1% +22% 20.1 19.9 -2% -4% +3.6 -0.2 17.4 17.4 -0.3 17.1 -0.7 16.4 1.5 1.6 Impact of PFRS16 Y-o-Y -2% 18.6 18.3 +5% 17.4 17.4 17.1 16.4 -0.3 +0.9 1Q18 2Q18 3Q18 4Q18 1Q19 2

  10. Slide 10: Telco Core Income: On track to meet P26.4bn guidance

    Telco Core Income: On track to meet P26.4bn guidance (Php in bn) (stable) Higher Higher Non-Cash Higher Higher EBITDA Exp Fin. Cost, Prov. for +5.2 -4.1 net Inc. Tax -0.7 -0.4 13.2 13.2 1H18 1H19 Telco Core Telco Core (ex-Voyager)  Impact to telco core income from adoption of PFRS16 effective 1 Jan

  11. Slide 11: PLDT Group: Telco Core Income

    PLDT Group: Telco Core Income (Php in bn) FY18 YoY : 2% higher (stable) 22% 13.2 13.2 -18% 10.8 +2.4 -2.4 1H18 2H18 1H19 24.0bn  Telco core income of P13.2bn in 1H19 is stable year-on-year and 22% higher vis-à-vis 2H18 11

  12. Slide 12: PLDT Group: Debt Profile

    PLDT Group: Debt Profile Net debt Net debt-to- Maturities well spread out EBITDA US$2,754mn 69% due after 2021 2.0x Debt Balance Debt Maturities (gross) US$3,381mn (US$ in billions) (US$ in millions, 30 June 2019) 1,273 3.5 2.8 3.4 3.4 2.4 2.8 497 386 438 312 1.0 0.6 225 250 0.7 2017 2018 1H2019 201

  13. Slide 13: Capex: Unparalleled fixed and wireless networks fuel growth

    Capex: Unparalleled fixed and wireless networks fuel growth In P bns +P20bn 78.4 1H2019 Capex  Network/IT capex at level similar to 2018 P32.7bn* 58.5 (P48bn) (1H18: P21.8bn)  Includes expansion of fiber/transport network to support fiber home broadband * P24.9bn is tech capex  “Revenue/customer

  14. Slide 14: Fixed Fiber and Wireless Network: Selected Highlights

    Fixed Fiber and Wireless Network: Selected Highlights Accelerated Fixed Network Rollout TOTAL HOMES PASSED TOTAL CAPACITY TOTAL FIBER FOOTPRINT (Million Homes) (Million Ports) (Thousand Cable Kilometers Laid)  1.2mn fiber ports available at end June 2019 (1 port = 1 customer) +10% +16% +23% 6.3 6.9

  15. Slide 15: PLDT Chief Revenue Office

    PLDT CHIEF REVENUE OFFICE Va Smart

  16. Slide 16: Guiding Principles of New CRO

    CHIEF REVENUE OFFICE GUIDING PRINCIPLES OF NEW CRO CUSTOMER AS THE DRIVE STRUCTURAL & BUILD DIGITAL CENTERPIECE OPERATIONAL AGILITY FUTURE-READINESS 16

  17. Slide 17: Focused CRO Organization

    CHIEF REVENUE OFFICE FOCUSED CRO ORGANIZATION FOCUSED CRO ORGANIZATION 17

  18. Slide 18: 3-Point Imperatives

    CHIEF REVENUE OFFICE 3-POINT IMPERATIVES 3-POINT IMPERATIVES CX OPTIMIZATION SERVICE DELIVERY REVENUE GROWTH • Drive Connections • Drive Adoption of Video across platforms • Enable Both Network and IT – YOUTUBE, NBA, IWANT, IFLIX • Improve I&R Process for Fixed • Arrest Churn • Strengthen Mobile Gam

  19. Slide 19: Key Thrusts for Consumer Business

    CHIEF REVENUE OFFICE KEY THRUSTS FOR CONSUMER BUSINESS KEY THRUSTS FOR CONSUMER BUSINESS 1 2 3 ZERO BACKLOG FIXED WIRELESS GO DIGITAL Serve Home Broadband Strengthen the digital and Launch the ZERO faster and cater to the needs app ecosystem for the BACKLOG Campaign of the prepaid market digital eco

  20. Slide 20: Key Thrusts for Enterprise Business

    CHIEF REVENUE OFFICE KEY THRUSTS FOR ENTERPRISE BUSINESS KEY THRUSTS FOR ENTERPRISE BUSINESS 1 2 3 FORTIFY LEADERSHIP GROW WIRELESS STRENGTHEN ICT IN FIXED DATA BEYOND POSTPAID CAPABILITIES Connected Mobile Secure Sustain Data Leadership across verticals in Aggressively grow wireless by pushing rele

  21. Slide 21: Consumer Individual

    PLDT A Smart CONSUMER INDIVIDUAL

  22. Slide 22: Individual accelerating further with +20% YoY growth in H1 2019

    Individual accelerating further with +20% YOY Growth in H1 2019 34.4 28.6 H1 ‘18 H1 ‘19 NET SERVICE REVENUES In Billions of PhP | PFRS 15 22

  23. Slide 23: 8.7 million more subscribers in H1'19

    TOTAL SUBSCRIBERS 8.7 Million more in Millions subscribers in H1’19 +8.7 +15% YoY 66.8 58.1 H1 ‘18 H1 ‘19 23

  24. Slide 24: Adoption of video drives growth in video users and data usage

    Adoption of Video Everyday continues to drive growth in video users and data usage across various video platforms 43% 113% 189% 244% JUN ’19 VS. NOV ’18 JUN ’19 VS. NOV ’18 JUN ’19 VS. NOV ’18 JUN ’19 VS. NOV ’18 +6% +12% +14% +27% +35% QoQ QoQ +90% +153% QoQ +170% QoQ QoQ QoQ QoQ QoQ NOV ‘18 MAR ‘1

  25. Slide 25: Big play in mobile gaming paying off

    Big play in mobile gaming paying off and fast becoming second pillar of data growth MOBILE LEGENDS DATA TRAFFIC Total Data Usage Unique Subs +16% +51% +119% +67% +222% QoQ QoQ +114 % QoQ Q3 Q1 Q2 Q4 ‘18 ‘18 ‘19 ‘19 25

  26. Slide 26: December 11, 2019 Philippine Arena

    December 11, 2019 Philippine Arena 26

  27. Slide 27: Consumer Home

    PLDT A Smart CONSUMER HOME

  28. Slide 28: PLDT Home grew modestly at 2% YoY in H1'19

    PLDT Home grew modestly at 2% YOY in H1’19 Home at 18.3B +363M vs.H1’18 18.0 18.3 H1 ‘18 H1 ‘19 NET SERVICE REVENUES In Billions of PhP | PFRS 15 28

  29. Slide 29: July installs at record high, setting up H2 plans

    July installs at record 90-year high, setting- up H2 plans of +48% new connects and upgrades TOTAL NEW CONNECTS & UPGRADES +44% vs Q2 ’19 Avg +27% -0.6% vs H2 ’18 Avg vs Q1 ’19 Avg -31% vs H1 ’18 Avg H1 ‘18 H2 ‘18 Q1 ’19 Q2 ’19 JUL’19 Avg Avg Avg Avg LE 29

  30. Slide 30: Key programs to improve Customer Experience for Fixed Wired

    Key programs to improve Customer Experience for Fixed Wired 1 2 3 NEW ZERO BACKLOG INCREASE INSTANT BROADBAND CAMPAIGN BROADBAND SPEED CONNECTION Campaign to bring zero out Free Speed Boost for Using fixed wireless for backlog our loyal subscribers immediate service delivery 30

  31. Slide 31: Launched Home Wifi CX enhancements with new app and Famload

    Launched Home Wifi CX enhancements with the new app and new Famload, boosting July fixed wireless activations to a new high CHECK USAGE BUY PROMOS GET HELP +67% vs Q2 Avg +11% vs Q1 Avg Q1’19 Q2’19 JUL ‘19 Avg Avg LE 2019 FIXED WIRELESS GROSS ACTIVATIONS 31

  32. Slide 32: Enterprise Business

    PLDT @ Smart Enterprise Business

  33. Slide 33: 1H 2019: Continued Growth Path

    1H 2019: Continued Growth Path 1H2019 Net Service Revenues Performance Highlights: (in Billions) 20.0 1. Fixed line continues to grow fueled by 8%, +1.5B 19.7 sustained demand for data. 19.5 6%, +1.2B 19.4 2. Wireless sustained its double digit 19.0 growth path and is growing beyond Postpaid. 18.5 1

  34. Slide 34: The Future of Work: Connected Mobile Secure

    The FUTURE of WORK Connected Mobile Secure 34

  35. Slide 35: Fixed: Fueled by Demand for Data

    Fixed: Fueled by Demand for Data Fixed Data - Net Service Revenues (in Billions) Performance Highlights: 10.5 9%, +0.9B 10.3 Domestic Networking 10.2 11% | +0.22B 6%, +0.6B 10.0 9.9 Global Enterprise 62% | +0.14B 9.6 9.4 US/Europe 12% 9.3 AsiaPac (HK/SG) 423% 9.0 1H2018 1H2019 1H2019 (IFRS16) 35

  36. Slide 36: The Future of Enterprise is Fiber

    The FUTURE of Enterprise is FIBER. 36

  37. Slide 37: Mobile: Growing Beyond Postpaid

    Mobile: Growing Beyond Postpaid 1H 2019 Net Service Revenues (in Millions) IoT/Solutions Portfolio 3.2 exhibiting Breakout Growth 3.1 12%, +0.3B 3.1 3.0 2.9 2.8 2.8 2.7 Postpaid +0.10B 2.6 1H2018 1H2019 Solutions/IoT 43% +0.23B 37

  38. Slide 38: Mobile: Smart 5G Alliance

    Mobile: Smart 5G Alliance A Fujir ; ql ie icrosoft 6 — ~~

  39. Slide 39: ICT: Rising >2X of Market Pace

    ICT: Rising >2X of Market Pace 1H 2019 Net Service Revenues Indisputable Leadership (in Billions) in the data center space 2.5 Rack capacity across 9K 10 data centers nationwide 1.2B 2.3 Data center revenues 20%, +0.4B 2.2 10%, +0.1B 2.1 Revenue Growth Diversification (Beyond Data centers) 1.9 1.8 1

  40. Slide 40: ICT: Why bother with the complexity?

    ICT: Why bother with the complexity? We take care of the Complexities of I.T. So customers can Focus on their Core Business. ePLDT Security Operations Center ePLDT Managed Operations Center ave. p o t ent ial seco nd s 30 M incid ent s p revent ed 54 ave. no t if icat io n t im e PROACTIVE MO NITO R

  41. Slide 41: Our B2B Strategy

    Our B2B Strategy BANKING & FI IT-BPM RETAIL GOVERNMENT MSME’s To be the Trusted End-to-End ICT Partner & Thought Leader of the Enterprise market. Fortify Leadership in Grow Wireless Beyond Aggressively Strengthen Fixed Data Connectivity Postpaid ICT Capabilities Sustain Data Leadership across indust

  42. Slide 42: PLDT Group: Guidance for 2019

    PLDT Group: Guidance for 2019 Telco Core Income: P26.4bn Capex: up to P78.4bn  To increase by up to P20bn from P58.5bn in 2018  To rise by P2.4bn from P24bn in 2018  Focus on:  Acceleration of revenue increases for the Consumer  Expansion of LTE/3G mobile coverage and Individual business fiber

  43. Slide 43: Other Details

    @PLOT Bsmart Other Details

  44. Slide 44: Individual: Another record quarter with 22% growth

    Individual: Another record quarter with a 22% year-on-year growth (Php in bn) 20% -2% yoy in 1H18 +5.8 +9% +10% +2.8 34.4 22% +18% yoy in 1Q19 +3.0 31.6 +3.2 28.6 +10% +2% +4% +1% +5% +0.3 +0.7 17.6 +1.5 16.9 +0.2 +0.7 16.5 14.4 15.1 14.2 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 1H18 2H18 1H19  Two-thirds (66

  45. Slide 45: Home: Modest growth in 2Q19 after three stable quarters

    Home: Modest growth in 2Q19 after three stable quarters (Php in bn) 2% +14% yoy in 1H18 +0.4 1% +0.3bn or 3% yoy in 1Q19 +1% +1% +0.1 +0.2 18.2 +0.2 18.3 18.0 +1% +3% -1% +0.1 -0.1 9.1 9.2 +0.3 9.1 9.1 9.1 8.8 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 1H18 2H18 1H19  Data/broadband account for over 76% of reve

  46. Slide 46: Enterprise: Rise in revenues continue

    Enterprise: Rise in revenues continue (Php in bn) 3% +9% yoy in 1Q19 6% +6% or +1.1bn +0.3 +1.2 yoy in 1H18 7% +0.7 +5% +1% +0.9 19.1 +0.2 19.4 * PFRS16 18.2 +3% +1% +5% +1% Impact +0.2 +0.1 +0.4 0.3 9.3 9.8 9.8 +0.1 9.9 9.6 9.0 9.2 1Q 2Q 3Q 4Q 1Q 2Q 2Q 1H18 2H18 1H19 2018 2019 (after PFRS15 impact)

  47. Slide 47: International/Carrier: Declines moderating

    International/Carrier: Declines moderating (Php in bn) 34% 36% -39% or -1.3bn in 1Q19 -15% or -1.3bn -1.2 in 1H18 -2.5 -21% -21% 3.5 3.5 -2% +8% -29% -0.7 2.7 -0.6 6.9 -2.0 4.9 -10% --- 4.4 2.2 2.1 +0.2 2.3 -0.5 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 1H18 2H18 1H19  Stable quarterly revenues after the reduc

  48. Slide 48: Appendix

    @PLOT Bsmart Appendix

  49. Slide 49: Subscriber Base: Mobile

    Subscriber Base: Mobile Mobile Subscribers (1) by Category: Net Adds (Reductions) 19-Jun Mar-19 Dec-18 Sept-18 Jun-18 2Q19 vs 2Q18 2Q19 vs YE18 1Q19 vs YE18 2Q19 vs 1Q19 (1) Mobile Subscriber Base Prepaid 65,151,418 61,585,197 58,178,978 55,627,968 56,081,230 9,070,188 16% 6,972,440 12% 3,406,219 6%

  50. Slide 50: Subscriber Base: Fixed Line and Broadband

    Subscriber Base: Fixed Line and Broadband Fixed Line Subscribers Net Adds (Reductions) Jun-19 Mar-19 Dec-18 Sept-18 Jun-18 2Q19 vs 2Q18 2Q19 vs YE18 1Q19 vs YE18 2Q19 vs 1Q19 Fixed Line Subscribers 2,711,411 2,707,077 2,710,972 2,778,274 2,756,865 (45,454) (2%) 439 - (3,895) - 4,334 - Broadband Subs

  51. Slide 51: ARPU

    ARPU Mobile ARPU, Net(1) : 2019 2018 1Q 2Q 1Q 2Q 3Q 4Q Smart Postpaid 796 813 809 813 810 843 Smart Prepaid 118 118 112 116 120 123 TNT 67 67 73 73 71 69 Sun Postpaid 423 418 382 403 406 414 Sun Prepaid 77 73 80 82 82 82 (1) Includes Mobile Broadband subscribers Broadband ARPU, Net : 2019 2018 1Q 2Q

  52. Slide 52: 1H2019: Consolidated Financial Highlights

    1H2019: Consolidated Financial Highlights 1H2019 Y-o-Y 1H2018 Wireless Fixed Line Others Consolidated % Change (Php in millions) Service Revenues (1) 43,435 43,384 - 80,410 76,361 5% (2) Cash Operating Expenses 15,653 23,451 10 35,426 38,732 (9%) Subsidies and Cost of Services 1,176 1,501 - 2,674 1,

  53. Slide 53: Consolidated Service Revenues (normalized)

    Consolidated Service Revenues (normalized) 2019 2018 % Change 1H19 vs 2Q19 vs 1Q 2Q 1H 1Q 2Q 1H 3Q 4Q 2H FY (Php in millions) 1H18 2Q18 Fixed Line 19,014 19,194 38,208 17,592 18,243 35,835 18,307 18,716 37,023 72,858 7% 5% (1) LEC 3,698 3,648 7,346 3,803 3,761 7,564 3,898 3,733 7,631 15,195 (3%) (3%

  54. Slide 54: Consolidated Service Revenues (normalized)

    Consolidated Service Revenues (normalized) 2019 2018 % Change 1H19 vs 2Q19 vs 1Q 2Q 1H 1Q 2Q 1H 3Q 4Q 2H FY (Php in millions) 1H18 2Q18 Data and Broadband 24,423 25,281 49,704 20,238 21,471 41,709 21,754 23,593 45,347 87,056 19% 18% Home Broadband 6,855 6,994 13,849 6,474 6,779 13,253 6,608 6,772 13

  55. Slide 55: Wireless Service Revenues (normalized)

    Wireless Service Revenues (normalized) 2019 2018 % Change 1H19 vs 2Q19 vs 1Q 2Q 1H 1Q 2Q 1H 3Q 4Q 2H FY (Php in millions) 1H18 2Q18 Data/Broadband 11,670 12,603 24,273 8,497 9,220 17,717 9,685 11,103 20,788 38,505 37% 37% (1) Mobile Data 11,643 12,580 24,223 8,449 9,181 17,630 9,648 11,072 20,720 38

  56. Slide 56: Fixed Line Service Revenues (normalized)

    Fixed Line Service Revenues (normalized) 2019 2018 % Change 1H19 vs 2Q19 vs 1Q 2Q 1H 1Q 2Q 1H 3Q 4Q 2H FY (Php in millions) 1H18 2Q18 Data/Broadband 14,677 14,702 29,379 13,211 13,259 26,470 13,970 14,330 28,300 54,770 11% 11% (1) Home Broadband 6,875 7,007 13,882 6,491 6,807 13,298 6,636 6,799 13,4

  57. Slide 57: Expenses

    Expenses 1H2019 Y-o-Y 1H2018 (Php in millions) Wireless Fixed Line Others Consolidated % Change Operating Expenses Compensation and Employee Benefits 3,548 8,062 - 11,600 11,074 5% Repairs and Maintenance 4,726 3,436 - 7,747 6,712 15% Selling and Promotions 1,670 1,004 - 2,673 3,042 (12%) Rent 125 2

  58. Slide 58: Other Income (expenses)

    Other Income (expenses) 1H2019 Y-o-Y 1H2018 Wireless Fixed Line Others Consolidated % Change ( Php in millions) Equity Share in Net Earnings (Losses) of Associates and Joint Ventures Multisys - - 59 59 - 100% Vega - - 42 42 (8) 625% Voyager - - (946) (946) - (100%) Others - 139 - 139 184 (24%) Total

  59. Slide 59: Earnings Per Share (EPS)

    Earnings Per Share (EPS) 1H2019 1H2018 (Php in millions except EPS (in Php) and Shares (in mn)) Basic Diluted Basic Diluted Net Income Attributable to Equity Holders of PLDT 12,207 12,207 11,762 11,762 Dividends on Preferred Shares (29) (29) (29) (29) Net Income for the Period Attributable to Common

  60. Slide 60: Balance Sheet

    Balance Sheet Consolidated (Php in millions) June 30, 2019 December 31, 2018 Total Assets 501,787 482,750 Nominal Value of Total Long-Term Debt 173,228 176,694 in US$ $3,381 $3,362 Less: Unamortized Debt Discount 385 418 Total Long-Term Debt 172,843 176,276 Cash and Short-Term Investments 32,129 52,

  61. Slide 61: Debt Profile

    Debt Profile (US$ in millions) 2016 2017 2018 1H2019 Debt Balance 3,730 3,466 3,362 3,381 Cash and Short-Term Investments 833 668 1,005 627 Net Debt 2,897 2,798 2,357 2,754 Interest-Bearing liabilities December 31, June 30, 2019 2018 Unamortized Debt Change Carrying Discount/Debt Face Value Face Val

  62. Slide 62: Foreign Exchange Risk

    Foreign Exchange Risk Forex Impact on Core Income Forex Impact of B/S Revaluation Forex sensitivity for every P1 change Forex sensitivity for every P1 change on B/S (in US$ millions) Conso - net of Elim Conso Revaluation (in US$ millions) US$ Revenues* 240.2 Debt (net of LT hedges & ST Forwards/opti

  63. Slide 63: Forward-looking statements

    Except for historical financial and operating data and other information in respect of historical matters, the statements contained herein are “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchang

  64. Slide 64: A PLDT ASmart

    A PLDT ASmart

PLDT — H1 2019 Earnings Presentation on 6ix