PLDT cuts capex, aims for positive cash flow by '26

PLDT Inc. announced on Thursday it will reduce its capital spending program this year, aiming to achieve positive free cash flow by 2026.

The company plans to spend between P68 billion and P73 billion in 2025, down from the P78.2 billion allocated last year and P85.1 billion in 2023.

PLDT's capex will focus on network upgrades, AI investments, data center modernization, and submarine cable infrastructure while maintaining its current infrastructure efficiently.

In 2024, PLDT reported a net income of P32.555 billion with revenues rising to P216.833 billion, marking an increase from the previous year.

Maya Innovations, PLDT's fintech unit, achieved its first profitable month in December 2024, while Maya Bank has been profitable since September.

PLDT CEO Manuel Pangilinan emphasized the company’s commitment to shaping the future through technology and improving Filipinos' lives.