PT&T joins 5G bandwagon
Philippine Telegraph and Telephone Corp. (PT&T) is joining the 5th generationn (5G) bandwagon, the telco announced during its Virtual Annual Stockholders Meeting held last Friday (September 25, 2020).
Already, the National Telecommunications Commission (NTC) allocated 200 MHZ of High Band Spectrum to the telco. Now, PT&T will undergo Proof of Concept on 5G Fixed Wireless Access use cases to be a provider of 5G broadband services.
Following a 22 percent increase in its broadband connections, PT&T also reported a 23 percent revenue growth year-on-year during the first half of the year, grossing ₱207 million.
Its core EBITDA likewise grew by 209 per cent compared to the same period last year.
For 2019, the telco grossed ₱396-million revenues versus the preceding year's ₱129.6 million. It has almost halved its losses from ₱88 million to ₱49.5 million in the comparative period.
“We are now benefiting from having spent the past two years transforming both PT&T’s operations and product offerings to be relevant in the digital age," affirmed James Velasquez, President and Chief Executive.
"This makes us even more resilient during these times as the requirement for high-speed-Internet and digital services become a priority,” he pointed out.
PT&T registered a continuous upturn in performance for the past three years and more so this year, as the need for connectivity heightened during the quarantine period. The telco forged partnerships like the one with Go Philippines, a community-driven social enterprise, to offer critical Broadband Internet solutions for the academe.
It fosters a diverse and inclusive culture, with shareholders electing a female board member during its Annual Stockholders Meeting and increasing its number of Directors from seven to nine to increase its Independent Directors to four.
Currently, PT&T has a network reach of 13,500 fiber kilometers in high-growth areas and covering almost 40 percent of the total Philippine population.
In 2019, the company forayed into the IT services space, offering accessible, enterprise grade solutions to complement its connectivity portfolio.
PT&T, a Publicly Listed Company, holds a 25-year franchise which allows it to establish, maintain, and operate both wired and wireless telecommunications systems for domestic and international communications.