PLDT Inc., the largest integrated telecommunications company in the country, said Friday its capital expenditure this year will be lower compared to last year’s budget of between P80 billion and P85 billion.
The 2023 budget was down from the P96.8 billion capital expenditure in 2022.
“We confirm the statement of the chairman (Manuel V. Pangilinan) that PLDT is eyeing a lower capex number for 2024. This is consistent with previous statements where the company indicated that it aims to sequentially reduce both the capex headline number and capex intensity, that is, capex as a percentage of service revenues,” the company said.
“We will announce both the 2023 final capex amount and the 2024 capex guidance when we release our full year 2023 results in March,” PLDT said.
PLDT also said that the search for the replacement of Al Panlilio as PLDT president and chief executive officer is still ongoing.
