The Philippines' third operator DITO Telecommunity stated ambitions to turn a profit in 2028, as it continues to invest in coverage expansion to fulfil regulatory coverage targets.
The Manila Times reported, the operator’s parent company, DITO CME Holdings’ president Eric Alberto expressed confidence in breaking even on EBITDA in 2025 and seeing an increase in 2028.
Alberto said in a shareholders meeting: "Given such progress and based on the business plan of DITO Telecommunity, the telco is looking for EBITDA breakeven by 2025, and it continues to endeavour onwards to achieve net profitability by [the] end of 2028.”
The operator has a fourth annual technical audit by regulator the National Telecommunications Commission this month, Alberto expressed confidence it will pass.
To pass the audit, Dito needs to prove it deployed coverage to 80% of the population and delivered minimum download speeds of 55Mbps over 4G.
Alberto claimed DITO has a presence in 810 cities and municipalities in the Philippines with a subscriber base of 17 million since commercial launch in March 2021. The operator achieved 12 million subscribers in November 2022.
DITO CME booked a net loss of PHP11.24 billion in 2022, growing from a loss of PHP9.67 billion in 2021 due to the expensive deployment of its operator unit.