DITO eyes 'profitability' by year 5 of commercial operations

ABS-CBN News

Posted at Mar 12 2021 12:14 PM

MANILA - DITO Telecommunity expects to pay off liabilities and see profitability on its 5th year of operations, DITO CME Holdings Corp, which indirectly holds stakes in the telco, said Friday.

DITO's EBITDA will be positive by its 3rd year and by the 5th year, "DITO Tel would have paid off loans and achieved profitability," DITO CME said in a disclosure to the stock exchange.

The telco, operated by Dennis Uy and China Telecom, is building its network to challenge the duopoly of Globe and PLDT. It rolled out its services in Visayas and Mindanao on March 8.

Services will be available in Metro Manila by May or June, chief administrative officer Adel Tamano said.

DITO's "end goal" is to capture 30 percent of the market share, currently dominated by Globe Telecom and PLDT Inc. 

The telco plans to introduce fixed broadband services in the next 2 years, it said.

During its commercial debut, some 22,748 people signed up, 6,597 of which have compatible phones and are within the coverage areas.

FROM OUR ARCHIVES:

Watch more on iWantTFC