MANILA, Philippines - Substantial growth in data and voice services pushed core revenues of Bayan Telecommunications, Inc. to hit P5.22 billion in 2012, 8 percent more than what it posted in 2011, the firm announced on Tuesday.
The telecommunication firm's data service revenues rose by 11 percent or P256 million to P3.56 billion on the back of growing demand for data connectivity and Internet connection, it said.
Meanwhile, digital subscriber line (DSL) revenues increased by 13 percent to P1.7 billion year-on-year to P1.7 billion due to increased usage of social media applications and the use of Internet for education purposes, Bayan noted. Bayan DSL subscribers similarly went up by 12 percent to 132,000 subscribers.
Voice revenues, on the other hand, rose by 4 percent to P1.61 billion from its 184,000 subscriber base. The company attributed the growth to effective product bundling programs, expansion in select areas and offering of voice products for the corporate market.
“Last year was a banner year for us because all of our market groups posted positive growth as compared to 2011,†the company said in a statement.
The firm's business segment grew by 11 percent to P2.44 billion on a year-on-year basis due to a combination of continuing demand for data connectivity and the success of Business Made Personal, Bayan’s branding for its topnotch quality of accounts management, it said.
Its consumer segment similarly increased by 6 percent to P2.19 billion on the back of an increased demand for DSL broadband and bundled packages.
Bayan’s core EBITDA (Earnings before interest, taxes, depreciation and amortization) reached P1.72 billion, or 13 percent higher than in 2011.
Meanwhile, Bayan said it welcomed the recent successful tender offer bid of Globe Telecom to acquire its outstanding debts from its creditors.
In a disclosure to the Philippine Stock Exchange last Dec. 26, 2012, Globe confirmed that the tender offer to purchase Bayan’s debt has been a success with a 96.17 percent acceptance rate.
"With this, Globe now becomes Bayan’s single biggest creditor under a court administered rehabilitation plan that the company entered into in 2004," it said.