16 Apr PT&T Sustains Profitability for Second Year, Sharpens Strategic Focus on Digital Infrastructure and Scalable Growth
Key Highlights of FY2024 Performance
- Earnings before tax (EBT) soared by 163% year-on-year, signaling robust core business momentum and enhanced operational execution.
- Revenue from IT Services climbed by 49%, emerging as a key growth engine amid accelerating demand for digital solutions.
- Core EBITDA maintained a healthy 15.37% margin, driven by sustained broadband performance and the rebound of IT Services.
- Net income more than doubled year-on-year, increasing by 130%—marking PT&T’s second consecutive year of profitability and signaling sustained earnings strength.
- PT&T closed the year with positive equity, reinforcing its financial resilience and long-term viability.
PT&T Corp. (PSE: PTT) (“PT&T” or the “Company”) reported another year of strong financial performance for the fiscal year ending December 31, 2024, marking its second consecutive year of profitability. This milestone reinforces the Company’s transformation journey, underpinned by disciplined execution, operational efficiency, and its expanding footprint in digital infrastructure and enterprise services.
Financial Resilience and Strategic Focus Pay Off
PT&T’s 2024 results reflect a decisive shift from recovery to sustained growth and consistent profitability.
Earnings before tax (EBT) surged by 163% year-on-year, fueled by improved core earnings and effective cost controls. The Company recorded a net income of ₱27.4 million, more than tripling its 2023 figure of ₱7.9 million—solidifying the Company’s financial turnaround and continued transformation.
The Company maintained a core EBITDA margin of 15.37%, supported by stable performance in its Fixed Broadband segment and a strong rebound in IT Services. Notably, IT Services revenue grew by 49% year-on-year, helping offset softness in the Fixed Broadband segment and aligning with broader market demand for managed digital and enterprise solutions.
In parallel, PT&T’s continued focus on cost discipline led to a more than 35% reduction in general and administrative expenses, significantly boosting operating leverage and strengthening bottom-line performance.
A Strategic Shift Toward Digital Infrastructure
In 2024, PT&T intensified its pivot toward future-ready technologies, expanding its focus to include cloud, cybersecurity, and satellite-based solutions. Central to this strategy is SecureLink Networks Inc., PT&T’s joint venture with Netlinkz Australia, which was formally launched in March 2025.
This partnership is poised to become a key pillar of PT&T’s long-term growth strategy, enabling the Company to gain a strong foothold in the rapidly evolving digital infrastructure space. It opens new revenue streams through secure connectivity and managed digital services tailored for enterprise, government, and mission-critical applications nationwide.
SecureLink’s offerings—including Virtual Secure Network Plus (VSN+) and SD-WAN solutions—equip PT&T to meet the growing demands of both urban and underserved communities. These initiatives are aligned with national priorities to promote inclusive digital access and bridge connectivity gaps across the Philippines.
Leadership Aligned with Strategic Vision
To support the next phase of growth, PT&T executed a strategic leadership transition designed to sustain momentum and deepen its focus on digital infrastructure.
James G. Velasquez, who successfully led the Company’s transformation over the past five years, has been appointed Chairman of the Board. In this new capacity, he will continue to guide PT&T’s long-term direction, with a particular focus on scaling high-growth initiatives such as SecureLink Networks, the Company’s digital infrastructure joint venture.
Angel S. Mercado now serves as Acting President, while continuing in his role as Chief Revenue Officer. With more than 30 years of leadership experience in telco and fintech, Mr. Mercado is well-positioned to sustain PT&T’s commercial momentum. Since joining in 2024, he has played a key role in refining the Company’s go-to-market strategy and revenue streams. His appointment reflects the strength of PT&T’s leadership bench and provides continuity as the Board undertakes its search for a permanent CEO.
His dual-role assignment ensures consistent execution, backed by a seasoned management team, as PT&T continues to drive shareholder value, scale operations, and expand its presence across both national and enterprise markets.
Outlook: Expanding Access, Enabling Innovation
Looking ahead, PT&T is committed to expanding its infrastructure and delivering secure, reliable, and cost-effective digital solutions to businesses, institutions, and communities across the country.
The Company is actively pursuing new partnerships, platform innovations, and strategic network investments to accelerate its evolution from a traditional telco into a full-suite digital enabler—with services extending beyond connectivity to include cloud, cybersecurity, and enterprise IT solutions.
Backed by a 25-year legislative franchise and an expansive fiber footprint, PT&T remains dedicated to bridging the digital divide, empowering digital transformation, and contributing to inclusive, innovation-led growth nationwide.
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Disclaimer on Forward-looking Statements and Information:
This disclosure contains forward-looking statements and forward-looking information in accordance with applicable laws in the Philippines. These statements and information are based on the current expectations, estimates, and assumptions of our management regarding future events. They are subject to certain risk factors and uncertainties, including those beyond our control, which may cause the actual results, financial situation, or performance to differ materially from the estimates or developments implied in these forward-looking statements. We undertake no obligation to update these forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting such statements, as required by Philippine laws and regulations.
About PT&T Corp. (PSE:PTT)
Incorporated in 1962, PT&T Corp. (previously known as Philippine Telegraph & Telephone Corporation) is a diversified telecommunications and information technology services provider. The Company caters to corporate, small/medium business, and residential segments across the Philippines. PT&T continues to specialize in adapting its services to the needs of enterprise and institutional end users. At present, PT&T’s business activities are categorized into two major businesses: Connectivity and IT Services.
Currently, PT&T has a network reach of 29,588 fiber kilometers in high-growth areas, covering almost 40% of the total Philippine population. The Company holds a 25-year National Legislative Franchise which allows it to establish, maintain, and operate both wired and wireless telecommunications systems for domestic and international communication. PT&T is a publicly listed company in the Philippine Stock Exchange.
For media inquiries or further information, please contact:
PT&T’s Investor Relations at [email protected] or visit https://www.ptt.com.ph or check @PTTFiberInternet on Facebook or LinkedIn.