ABS-CBNnews.com | 02/05/2013 4:06 PM
MANILA, Philippines - Lopez-led Bayan Telecommunications Inc. (Bayan) posted P5.22 billion in core revenues in 2012, 8% higher than the previous year.
Bayan attributed the strong 2012 performance to the substantial growth in its data and voice services.
Data service revenues jumped 11% to P3.56 billion, driven by the increasing demand for data connectivity and internet connection.
DSL revenues went up 13% to P1.7 billion in 2012, on the increased use of social media applications and the adoption of internet for education purposes. The number of Bayan’s DSL subscribers also grew 12% to 132,000 subscribers.
Voice revenues reached P1.61 billion, 4% higher than the previous year. This was attributed to Bayan's product bundling programs, expansion in select areas and innovative voice products for the corporate market.
Bayan Chief Operating Officer Rafael T. Aguado gave credit to the company's employees for its good performance.
"Beyond our products and services, it was our core strength – the people of Bayan, and their winning attitude that helped us achieve our targets," he said in a statement.
Bayan’s business segment rose 11% to P2.44 billion due to the continuing demand for data connectivity and the success of "Business Made Personal," Bayan’s branding for its topnotch quality of accounts management.
On the other hand, Bayan’s consumer segment grew 6% to P2.19 billion, with growth coming from increased demand for DSL broadband and bundled packages.
Bayan’s core EBITDA (Earnings before interest, taxes, depreciation and amortization) totaled P1.72 billion, or 13% higher than 2011.
Meanwhile, Bayan welcomed the successful tender offer bid of Globe Telecom to acquire its outstanding debts from its creditors.
Aguado said Bayan sees this as a positive development that will help strengthen the company’s operations and enable it to become more competitive, help accelerate the completion of its rehabilitation, and one that will ultimately benefit its customers.
Last December, Globe confirmed that the tender offer to purchase Bayan’s debt has been a success with a 96.17% acceptance rate. Globe now becomes Bayan’s single biggest creditor under a court administered rehabilitation plan that the company entered into in 2004.