Globe’s net income up 14% in 2006

6 Feb 2007

Filipino telecoms operator Globe Telecom posted a 14% rise in net income to PHP11.8 billion (USD242.9 million) in 2006, on the back of sustained subscriber growth across its operations. The company, which is backed by Singapore Telecommunications (SingTel) and the Ayala Group, reported consolidated service revenues of PHP57 billion, up four percentage points on the previous year. Globe added that EBITDA in 2006 was PHP37.2 billion and EBIT stood at PHP20.1 billion. The EBITDA margin was 65%, despite the company incurring a rise in marketing spend in the run-up to Christmas.

Globe reported 1.2 million net additions in its mobile base in the fourth quarter of 2006 to end the year with 15.7 million customers, up from 12.4 million at the end of December 2005. The company plans to expand the coverage and quality of its 2G network in 2007, and ramp up both its 3G and broadband rollout programmes. With 5,884 cell sites at the end of 2006, Globe currently serves 98% of the population with a 94% geographic reach.

Philippines, Globe Telecom (incl. Innove)