Globe reports 14% rise in mobile subs in 2010

14 Feb 2011

Filipino fixed and mobile operator Globe Telecom reported double-digit growth for cellular users in 2010, fuelled by the popularity of its ‘loyalty’ offers for pre- and post-paid tariff plans. As of 31 December 2010 the telco reported 26.5 million mobile subscribers, up 14% from 23.2-million at end-2009. Of these, Globe reported more than one million active contract customers, up 25% year-on-year, a record high for the operator with full-year net additions for post-paid users reaching 215,000. Globe said the strong performance ein this business segment by due in the main to the launch of a range of personalised post-paid plans – My Super Plan and My Fully Loaded Plan – which are proving a hit with subscribers. Meanwhile, in the pre-paid market segment, Globe ended the year with 25.4 million subscribers, up 13% y-o-y from 22.4-million a year earlier. Of these, 13.8 million were signed up to Globe Prepaid and 11.6 million were Globe TM users. The cellco said the expansion of the pay-as-you-go base was driven by the introduction of affordable unlimited inter- and intra-network call and text services, such as Super Unli, Super All Txt, AstigCombo and Unlicombo offers.

Meanwhile, the company says it has secured a PHP7 billion (USD160 million) loan from Banco de Oro Unibank (BDO) to fund its CAPEX programme and debt repayments in 2011. The latest funding comes on top of the PHP4 billion five-year loan it concluded with the Metropolitan Bank and Trust Co. in November 2010. Commenting on the BDO funding, Globe Telecom’s chief financial officer Albert de Larrazabal said: ‘We intend to use the BDO facility to fund our capital expenditure requirements this year and pre-pay up to PHP3 billion in loans that originally mature in 2012. The current low interest rate environment allows us to replace these loans with cheaper debt, generating savings for the company.’

Philippines, Globe Telecom (incl. Innove)