MANILA – DITO Telecommunity hopes to break even in 2025, the president of DITO CME Holdings Corp said Wednesday.

DITO CME President Ernesto Alberto made the statement at the company's annual stockholders’ meeting when asked about when the country's third major telco will turn a profit.

“Given that DITO is coming into its 4th year of technical audit as mentioned earlier, by the regulator NTC, we are encouraged to say that DITO is successful in passing the three prior annual technical audits with flying colors and we are confident that they would be able to meet this coming fourth one scheduled this month,” Alberto said.

“Given such progress and based on the business plan of DITO Tel, the telco is looking at seeing the break-even by 2025 and it continues to endeavor onwards to achieve net profitability by end of 2028,” he added.

Last April, Dito CME said it is looking at fund-raising activities, capital infusions as well as various cost-cutting measures this year as its losses piled up to P11.4 billion in 2022.

• DITO CME eyes fund-raising, cost-cutting in 2023

In May, Dito Telecommunity also renewed its $1.175 billion loan provided by the Bank of China and the China Minsheng Banking Corp.

• DITO Telecommunity renews $1.175 billion loan with Chinese banks

In the same meeting, Dito CME Chief Operating Officer Donald Lim also said the company is also looking to diversify its revenue stream.

Aside from DITO Telecommunity, Dito CME also owns data analytics firm Unalytics, and media company Acuity Global.

Alberto said DITO Telecommunity is now present in 810 cities and municipalities nationwide, and now has 17 million subscribers.

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