GLOBE MAINTAINS STRONG FINANCIAL RESULTS: FULL YEAR
TARGETS REMAIN ON TRACK
RECORD SERVICE REVENUES AT ₱124.0 BILLION, UP 2% YoY;
RECORD EBITDA AT ₱64.9 BILLION, UP 7% YoY;
EBITDA MARGIN AT 52%, TRACKING ABOVE GUIDANCE;
NORMALIZED NIAT AT ₱17.8 BILLION, UP 20% YoY;
CORE NIAT AT ₱17.6 BILLION, UP 19% YoY;
MYNT'S IMPRESSIVE GROWTH DRIVES GLOBE'S NET INCOME BEFORE
TAX, CONTRIBUTING A SIGNIFICANT 14%
RECORD MOBILE BUSINESS REVENUES AT ₱87.7 BILLION, UP 5% YoY, LED
BY RECORD MOBILE DATA REVENUES OF ₱72.9 BILLION, UP 9% YOY;
RECORD CORPORATE DATA REVENUES AT ₱15.5 BILLION, UP 14% YOY;
GLOBE'S STRATEGIC SHIFT TO PREPAID FIBER PAYS OFF
WITH STRONG CUSTOMER ENGAGEMENT;
GLOBE SPENT CASH CAPEX OF ₱41.0 BILLION, DOWN 24% YoY, IN LINE
WITH STRATEGY TO OPTIMIZE CAPITAL UTILIZATION AND ACHIEVE
POSITIVE FREE CASH FLOW BY 2025;
GLOBE ATTAINS MSCI ESG “AA” RATING FOR TWO YEARS IN A ROW AND
THREE-PEAT FIVE GOLDEN ARROW AWARD FROM THE INSTITUTE OF
CORPORATE DIRECTORS
- Service Revenues: ₱124.0B, up 2% YoY.
- EBITDA: ₱64.9B, up 7% YoY; EBITDA margin at 52%, above guidance.
- Normalized Net Income: ₱17.8B, up 20% YoY.
- Core Net Income: ₱17.6B, up 19% YoY.
- Mobile Business: Revenues hit ₱87.7B, up 5% YoY, with mobile data reaching ₱72.9B, up 9%.
- Corporate Data: Revenues up 14% YoY to ₱15.5B.
- Home Broadband: Revenue decreased by 6%, but fiber services showed growth.
Capital Expenditures: ₱41.0B, down 24% YoY, as Globe focuses on optimizing existing network investments.
Mynt (GCash): Contributed 14% to pre-tax net income, up from 6% in 2023, with strong growth in digital financial services.
Sustainability & Infrastructure:
- Globe continues to improve its 5G coverage and expand fiber infrastructure.
- Globe's network now covers 98.5% of the National Capital Region with 5G, and 106 towns enjoy 5G coverage.
Recent Developments:
- Tower Sale & Leaseback: Globe completed sales of 6,653 towers, generating ₱85.5B in proceeds.
- Typhoon Kristine: Globe restored service quickly, offering free connectivity to affected customers and supporting relief efforts.
Data Center Updates:
- Construction of new data centers is on track, with the STT Fairview and STT Cavite 2 projects expected to increase IT capacity significantly by 2026.
Globe's Q3 & 9-Month Highlights (:
- Strong Mobile Growth: Mobile data traffic up 8% YoY, hitting 4,843 petabytes.
- Fiber Expansion: GFiber Prepaid subscribers grew 52x.
- Corporate Data: 14% increase in corporate data revenue.
- Home Broadband Decline: 6% decrease due to fiber shift.
- Non-Telco Revenue: Down 56% YoY due to ECPay deconsolidation.
- EBITDA: Up 7% from higher revenues and lower costs.
- Mynt’s Contribution: Helped boost Globe’s profits, contributing 14% to pre-tax income.
- Investments: ₱41 billion spent on network upgrades, including new 5G sites and fiber lines.
- Tower Sale: Globe raised ₱85.5 billion from tower sales.
- Typhoon Response: Free services provided in affected areas.
- Updated GFiber Plans: New pricing starts at ₱1,499/month for 300 Mbps.
- Data Centers: Globe expanding capacity to 52 MW by 2026.
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