Globe Telecom H1 revenues reach ‘all-time high’ as profits climb to PHP8.7bn

4 Aug 2015

Globe Telecom of the Philippines reported ‘all-time high’ consolidated service revenues of PHP53.8 billion (USD1.12 billion) for the six months ended 30 June 2015, 13% higher than the PHP47.7 billion figure booked in the same period last year, driven by strong performances of its mobile, broadband and fixed line business segments. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at PHP22.7 billion, a 19% improvement on an annualised basis, and net income in 1H15 reached PHP8.7 billion, up 27% year-on-year, and another record high for the operator. Globe spent around PHP11.4 billion in capital expenditures as of the first half of the year to support its subscriber base and its demand for data.

The telco said that its sustained growth was aided by strong subscriber growth in both the mobile and broadband segments, with Globe reporting a record-breaking quarter for gross acquisitions, bringing the total mobile subscriber base to 48.4 million as of end-June 2015, up 13% y-o-y. Revenue derived from mobile services climbed 11% to PHP44.1 billion from PHP39.6 billion, of which service revenues contributed PHP41.6 billion, up 10% y-o-y. Fixed line and broadband sales generated PHP13.1 billion to the overall total, up an impressive 25%, of which PHP12.3 billion was service revenue (+24%). Globe closed out June with a total of 3.474 million broadband subscribers, up 55% from 2.248 million at 30 June 2014, of which 3.005 million were wireless broadband (up 64%) and 468,649 were fixed broadband (up 14%).

Philippines, Globe Telecom (incl. Innove)