Hong Kong-listed First Pacific Company Limited (First Pacific, 00142) has released the unaudited first-quarter 2026 results of its 25.57%-owned associate, PLDT Inc., as filed with the Philippine Stock Exchange and the New York Stock Exchange on 14 May 2026. All figures are in Philippine pesos.

Revenue and Profitability • Total revenue from contracts with customers rose 2.23% year on year to PHP56.51 billion, driven by a 2.77% increase in service revenues to PHP54.90 billion, partly offset by a 13.38% decline in non-service revenues to PHP1.61 billion. • Net income slipped 1.61% to PHP8.92 billion, reflecting higher interconnection costs and depreciation charges. • Basic and diluted earnings per share decreased to PHP40.98 from PHP41.71 a year earlier. • Income before tax fell 4.63% to PHP11.26 billion, while the tax provision contracted 14.64% to PHP2.34 billion, moderating the impact on bottom-line profit.

Cost Structure • General operating costs fell 3.07% to PHP18.20 billion. • Depreciation and amortisation expanded 9.24% to PHP14.28 billion. • Interconnection costs jumped 34.29% to PHP6.00 billion, representing the most significant expense rise in the quarter. • Aggregate expenses increased 5.44% to PHP42.75 billion.

Balance-Sheet Highlights (31 March 2026 vs 31 December 2025) • Total assets edged up 0.75% to PHP639.56 billion, supported by a PHP2.67 billion rise in cash and cash equivalents to PHP14.53 billion. • Total equity attributable to PLDT shareholders declined 0.76% to PHP125.92 billion due to lower retained earnings. • Non-current interest-bearing liabilities fell by PHP12.48 billion to PHP266.39 billion, while current portions rose by PHP12.89 billion to PHP29.07 billion, indicating a shift in debt maturity profile. • Current liabilities climbed 12.96% to PHP179.85 billion, driven by higher dividends payable and reclassified short-term debt.

Ownership Context First Pacific and its Philippine affiliates maintain a 25.57% attributable economic interest in PLDT. The results disclosed pertain solely to PLDT and do not consolidate First Pacific’s other businesses.

Source: First Pacific Company Limited announcement dated 14 May 2026; PLDT unaudited consolidated financial statements for the period ended 31 March 2026.