DITO TEL sees top line surging by 50% in 2024
DITO Telecommunity (DITO Tel) is projecting a revenue growth of 50 percent to 51 percent this year as more consumers tap their services, mostly because of their 5G connectivity that enables faster mobile internet.
Eric Alberto, DITO Tel CEO, told reporters last week they would have 14 million subscribers by the end of this year, a significant rise from nine million in 2023.
“To us, it’s a modest achievement coming from just three years of commercial operations,” Alberto said.
The parent company of DITO Tel, DITO CME Holdings Corp., said its total revenues jump by 54 percent to P11.24 billion last year.
As of end-September, it already surpassed 2023 total revenues after raking in P11.89 billion, showing 47-percent growth from last year in the same period.
While the country’s third telco previously projected a more optimistic number—16 million subscribers by year-end—Alberto acknowledged how competitive the industry is.
Article continues after this advertisement
“We were trying to be ambitious. The reality is, you know, healthy competition is in play,” he said.
Article continues after this advertisement
As of latest reporting, Smart Communications Inc. has 60.3 million subscribers while Globe Telecom Inc. has 60.2 million users.
Moving forward, Alberto said they were targeting to have at least a 30-percent share of the market.
“We are challenged to get our fair share of the market. If you look at it, [a] fair share of the market is about 30 million. In a 100 million market, you should get [30 percent] at least,” he said.
According to a study by First Metro Securities Brokerage Corp. and DBS, DITO Tel will grow its mobile subscriber market share from 7 percent last year to 16 percent by 2026.
PLDT Inc.’s share, as a result, is seen to drop from 49 percent to 44 percent while Globe Telecom Inc. is projected to shed 4 percentage points to 40 percent within the same forecast period.
DITO Tel currently has 2,000 cell sites that offer 5G connection across the country. INQ