BusinessNews.ph

Tag: Globe

  • Globe’s Revenue Hits P41.1bn in Q1, Mobile Business Drives Growth

    Globe’s Revenue Hits P41.1bn in Q1, Mobile Business Drives Growth

    Globe Telecom Inc. announced its financial and operating results for the first quarter of 2024, highlighting robust performance across key metrics.

    Revenues reached P41.1 billion, a 3% increase year-on-year (YoY). The company achieved a record EBITDA of P21.4 billion, up 4% YoY, with an EBITDA margin of 52%.

    Normalized and core net income after tax (NIAT) both rose by 13% YoY to P5.8 billion. Globe’s fintech arm, Mynt, now contributes 11% to the company’s net income before tax.

    The mobile business reported revenues of P29.1 billion, an 8% YoY increase, driven by mobile data revenues of P23.8 billion, up 10% YoY.

    Corporate data revenues also hit a record P5.0 billion, marking a 10% YoY growth. However, capital expenditures for Q1 2024 stood at P13.7 billion, down 22% YoY.

    Despite economic challenges, Globe’s mobile business continued to grow, with revenues increasing to P29.1 billion as of March 2024. The company’s customer base reached 58.8 million mobile subscribers.

    Mobile data revenues saw a 10% increase to P23.8 billion, fueled by rising smartphone usage and data-intensive applications. Mobile data traffic rose to 1,610 petabytes from 1,352 petabytes YoY.

    The corporate data business grew by 10% YoY to P5.0 billion, driven by core data services and ICT solutions.

    Home broadband revenues declined by 6% to P6.1 billion, though postpaid fiber exhibited positive growth. Globe’s fixed wireless revenues are stabilizing post-pandemic as demand shifts to wired connectivity.

    Non-telco revenues dropped 60% YoY due to the deconsolidation of ECPay. Operating expenses rose to P19.8 billion in Q1 2024 from P19.5 billion YoY.

    Consolidated EBITDA increased by 4% to P21.4 billion, with an EBITDA margin rising to 52%.

    Globe’s balance sheet remains strong, with total debt improving to P246.7 billion. The company’s capex for Q1 2024 was P13.7 billion, reflecting a 22% decrease YoY, as Globe focuses on optimizing capital deployment and achieving positive free cash flow by 2025.

    BusinessNews.ph

  • Globe is largest PH publicly-listed telco, transforms into a digital solutions group

    Globe is largest PH publicly-listed telco, transforms into a digital solutions group

    Globe is now the largest telecommunications company in the Philippines in terms of market capitalization. Globe, with trading symbol GLO at the Philippine Stock Exchange, now has a market value of over P363 billion as of end-August trade.

    Globe’s high market capitalization shows investors’ confidence in the company’s prospects, including its strategy to invest and diversify into adjacent sectors.

    Once a telco business only, the Globe Group of Companies has expanded into various digital solutions businesses, leveraging its substantial customer base, distribution capabilities, deep market knowledge, and synergies with its strategic partners.

    Globe has successfully transformed its telco business into a technology-based solutions provider with a footprint in fintech, healthcare, entertainment, adtech, e-commerce, manpower, IT services, and venture capital.

    Likewise, Globe’s dividend payments are consistent, given its healthy operating results and cash flows. The company returns to its shareholders dividends equivalent to 60%-75% of its prior year’s core net income. Service revenue was at P37.6 billion in the second quarter, while EBITDA was at P19.1 billion. Net income and Core net income for the April to June period came in at P5.7 billion and P5.8 billion, respectively.

    “Over the years, Globe has shown remarkable growth as a result of its exemplary performance and sound management decisions. This, in turn, earned the trust of our stakeholders whose support allows us to continuously expand our businesses, offer quality products and services, and reach more customers,” said Ernest Cu, Globe President and CEO.

    To further secure its position as an industry leader, Globe continues to look for new ventures that are ready to scale. Its wholly owned corporate incubator company 917Ventures is expanding aggressively into new areas that would address various consumer pain points.

    Its recent success with the GCash e-wallet service is proof that gains from diversification can manifold at the right time.

    Thus, beyond serving the communications and connectivity requirements of its over 85 million mobile and broadband customers, Globe’s digital solutions are enabling a robust digital ecosystem for the Filipino.

    Affiliates and subsidiaries of Globe include Kickstart Ventures, Asticom Technology, Yondu, and 917Ventures which operates Mynt, KonsultaMD, HealthNow, AdSpark among others. Its other notable brands include Globe Studios, Globe Live, GOMO and TM.

  • Globe welcomes UK-based Internet Watch Foundation (IWF) in roster of partners for child protection advocacy

    Globe welcomes UK-based Internet Watch Foundation (IWF) in roster of partners for child protection advocacy

    Committed to its advocacy against online sexual abuse and exploitation of children (OSAEC), Globe further strengthens its anti-OSAEC initiatives by partnering with globally-recognized Internet Watch Foundation. This comes immediately after Globe sealed a partnership with the Canadian Centre for Child Protection (C3P) in June.

    IWF is a UK-based child protection body that employs cutting-edge technology to find, remove, disrupt and prevent child sexual abuse imagery on the internet. The non-profit organization works closely with international law enforcement agencies, governments and other non-government organizations (NGO). Each report on an exploitative image or video received is examined by a pool of expert analysts, who proactively scours the internet for OSAEC content.

    This partnership brings together the power of national government, legal authorities and civil society to eradicate the incidence of OSAEC. Globe recognizes that proper reporting, analysis and continuous reduction of materials that promote child abuse and sexual exploitation will allow future generations to thrive in a more positive and progressive society.

    “Globe has always been an ally of child rights and child protection initiatives. Partnering with international monitoring groups such as IWF is a mindful step to further our mission in eliminating OSAEC in the country. Through this, we not only advocate responsible online behavior and wellness but help protect the future generation from OSAEC,” said Atty. Froilan Castelo, Globe General Counsel.

    Susie Hargreaves OBE, Chief Executive of the Internet Watch Foundation (IWF) said: “In the international battle against child sexual abuse material and the criminals who spread it online, it is good to see more and more companies taking a strong stand and joining us to eradicate this harmful content from the internet. Knowing videos and images of their sexual abuse are still being circulated among online predators haunts victims, making the abuse something that can seem to never go away. The work of our analysts to find and remove this content for good protects victims and helps make the internet a safer place where criminals have no place to hide.”

    As a champion for the rights of children, Globe recently served as a panel speaker at the Children’s Rights and Business Principles (CRBP) Online Training Seminar organized by the Ateneo Human Rights Center (AHRC) last May, which aimed to build the capacity of top management on CRBP and deepen their knowledge on its relevance to their sector’s operations, and the use of online digital business platforms.

    At the session, Globe discussed its various programs and initiatives to make information technology safe (#MakeITSafePH) for children, parents and caregivers who were impacted by changes in workplace policies during the pandemic, and its best practices to successfully adjust and pivot.

    The company also joined the UNICEF-led SaferKidsPH initiative and Safer Internet Day which both raise awareness on pressing and emerging online sexual abuse and exploitation of children (OSAEC) cases. The 18th edition of Safer Internet Day called upon all stakeholders to join hands in making the internet a safer and better place for all, especially for children.

    To provide assistance to both children and parents or guardians, Globe opened up “lifelines” for Filipinos to help cope with OSAEC-related mental and physical health concerns. Individuals and families can seek assistance by calling HOPELINE, the 24/7 suicide prevention and crisis support desk of New Good Feelings (NGF) Mindstrong. The non-profit organization is one of the country’s pioneer independent foundations recognized by the International Association on Suicide Prevention. The access to the HOPELINE is free to all Globe and TM customers.

    HOPELINE can also be accessed through the HealthNow App, downloadable through the Play Store for Android and App Store for iOS. It is a mobile application that helps patients to conveniently consult with a doctor, and schedule clinic appointments and even purchase medicine for delivery, without leaving their homes. HealthNow is a portfolio company of 917Ventures, a corporate venture builder wholly-owned by Globe, and AC Health, the healthcare arm of Ayala Corporation.

  • Globe Installs 39 New Towers in Underserved Areas

    Globe Installs 39 New Towers in Underserved Areas

    METRO MANILA – Globe Telecom announced that it has successfully installed 39 new cell towers in previously underserved areas in Mindanao, Northern Luzon, South Luzon, and Visayas.

    These newly-installed cell towers in 23 provinces and one city will further improve the call, SMS, and data experience of more than 100,000 current Globe and future customers, as demand for connectivity continues to rise especially in areas where so many households depend on the internet for work from home and distance learning requirements.

    In Mindanao, Globe was able to build at least one cell tower in Jabonga, Agusan Del Norte; Don Carlos and Manolo Fortich in Bukidnon; Paquibato in Davao City; Governor Generoso, Davao Oriental; Sultan Kudarat, Maguindanao; and Veruela, Agusan del Sur.

    Palawan topped the provinces with the most builds in South Luzon with seven cell towers in Busuanga, Coron and Puerto Princesa. At least one tower was installed in Paracale, Camarines Norte; Calabanga, Camarines Sur; Mogpog and Sta. Cruz in Marinduque; Lubang, Occidental, Mindoro; Roxas, Oriental Mindoro; and San Narciso, Quezon.

    Globe has also expanded its network in Abuyog, Javier, Kananga and Palompon in Leyte; Butuan and Carmen in Bohol; Caurtero, Capiz; Camotes Island, Cebu; Bonbon, Cebu City; Buenavista in Guimaras; and Calatrava, Negros Occidental.

    In North Luzon, recent installations were made in Dipaculao, Aurora; Sanchez Mitra, Cagayan; Delfin Albano, Isabela; and Bangar, La Union.

    More installations are underway as Globe is targeting to build at least 2,000 new cell towers this year.




    “This is just the start because Globe recognizes the value of connectivity as the rest of the country continues to cope with the demands of the new normal. Our aggressive network builds and investments in areas that matter to us, where our customers need the service they deserve, will continue in 2021,” said Joel Agustin, Globe Senior Vice President for Program Delivery, Network Technical Group.

    The new builds and upgrades have begun to improve the overall experience of customers. Ookla®’s quarterly data showed that Globe’s overall mobile Consistency Score™ in Q4 2020 improved to 60.82% from Q3’s 56.83%.

    Globe’s regional mobile Consistency Scores also improved from the previous quarter in 16 out of 17 regions, registering increases as high as 10 PPTs (percentage points), with Consistency Scores ranging from 39% and 65% in Q4 2020. – BusinessNews.ph