11 Apr PT&T Delivers Strong Profitability; Ushers in New Phase of Leadership
The Board of Directors of PT&T Corp. (PSE: PTT) (“PT&T” or the “Company”) has approved the Company’s Audited Financial Statements for the fiscal year ended December 31, 2024, highlighting another year of strong operational and financial performance.
Strong Financial Performance
PT&T delivered solid results in 2024, with earnings before tax (EBT) rising by 163% year-on-year, reinforcing its strengthened financial footing and focus on sustainable profitability. This marks the second consecutive year of positive financial results, positioning the Company for long-term value creation.
The Company recorded revenue growth, driven by a robust 49% expansion in its IT Services segment. Despite a more competitive landscape, PT&T sustained healthy margins and streamlined its cost structures. Through strategic cost control initiatives, the Company achieved a more than 35% reduction in general and administrative expenses, significantly enhancing operational efficiency.
Net income more than doubled year-on-year, increasing by more than 130%, further strengthening PT&T’s financial foundation and equity position.
These results underscore PT&T’s successful shift to a leaner, more agile operating model—well-positioned for sustainable growth as it expands into digital infrastructure and cybersecurity.
Strategic Leadership Transition
In support of its evolving strategy—particularly in digital infrastructure and cybersecurity—PT&T is entering a new phase of leadership. With the successful launch of SecureLink Networks Incorporated (“SecureLink Networks”) in March 2025, the Board has elected Mr. James G. Velasquez as Chairman of the Board, following a deliberate transition plan that aligns with the Company’s future direction.
Mr. Velasquez, who played a pivotal role in PT&T’s transformation over recent years, steps down from his post as President and Chief Executive Officer to focus on growing SecureLink Networks—the Group’s flagship venture in high-growth digital verticals. His continued presence as Chairman ensures strategic continuity at the Board level.
Mr. Roberto B. Ortiz, whom Mr. Velasquez succeeds, remains an Independent Director and continues to serve in his leadership roles within key governance committees, including the Executive Committee, Audit Committee, Risk Oversight Committee, and Corporate Governance Committee. Mr. Ortiz’s continued presence on the Board reinforces institutional stability and strategic oversight.
To support the transition, the Board has appointed Mr. Angel S. Mercado—currently Senior Vice President and Chief Revenue Officer—as Acting President of PT&T. Mr. Mercado has been instrumental in driving PT&T’s commercial direction since joining in 2024, and his assumption of the acting role reflects the Company’s deep leadership bench. He will serve in both capacities as the Board undertakes its selection of a permanent CEO.
In addition, the Board confirmed the appointments of Ms. Kristine Bitanga-Cuenca as Treasurer and Ms. Jhonna P. Cañeja as Assistant Vice President – Investor Relations and Corporate Communications Head, both effective April 11, 2025.
Continued Operational Stability
These leadership changes reflect PT&T’s long-term strategic planning and underscore its commitment to innovation-led growth and governance excellence. Operations remain stable and uninterrupted during this transition, with a seasoned management team in place to ensure continuity in service delivery and business execution.
As PT&T sharpens its focus on future-ready solutions, the Company remains committed to delivering sustainable value to customers, investors, and stakeholders.
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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.