Globe profit dips on rising costs

Ayala-backed Globe Telecom Inc. posted a net income of P23.3 billion for full-year 2025, down 4.1 percent from P24.3 billion in 2024, as elevated depreciation and interest expenses weighed on earnings.

In a stock exchange report on Wednesday, the company said the total includes non-recurring gains from the deemed disposal of Mynt shares and the company’s tower sale and leaseback deal. Excluding these one-off items, normalized net income fell 4 percent to P20.8 billion.

Core net income, which removes the impact of asset sales, foreign exchange movements, and mark-to-market adjustments, stood at P20.9 billion, down from P21.5 billion a year earlier.

“Our 2025 results provide a solid springboard for 2026, as we deepen our focus on creating everyday impact for our customers. We will further enhance our 5G footprint, broaden GFiber Prepaid’s reach, and scale our digital ventures such as GCash and enterprise solutions to meet the consumer’s evolving demands,” Carl Raymond R. Cruz, President and CEO of Globe Telecom Inc., said.

Globe posted record consolidated gross service revenues of P165.1 billion, driven largely by mobile and data growth. Mobile service revenues reached P116.9 billion, with mobile data alone hitting P101.2 billion, fueled by rising 5G adoption and deeper data usage.

Total mobile subscribers grew 8 percent to 65.8 million, while mobile data users increased 5 percent to 39.2 million, underscoring the company’s expanding digital footprint.

Broadband also contributed to Globe’s growth, with revenues rising 1 percent to P24.0 billion. Fiber adoption surged, with subscribers jumping 43 percent to 2.1 million and now accounting for 91 percent of total home broadband revenues.

The GFiber Prepaid segment expanded to over 820,000 users, reinforcing Globe’s fiber-led strategy. Corporate data revenues similarly rose 1 percent to P20.7 billion, supported by ICT solutions such as cybersecurity, cloud services, and Business Application Solutions.

Digital financial services further bolstered Globe’s performance. Its equity share in Mynt contributed P6.1 billion to pre-tax income, roughly 22 percent of the company’s earnings, supporting nationwide services like GCash.

Meanwhile, disciplined cost management helped total operating expenses fall 1 percent to P77.5 billion, enabling full-year EBITDA to rise 1 percent to P87.6 billion, with a strong 53.1 percent margin.

Globe continued to invest heavily in network expansion and digital initiatives, with cash capital expenditures totaling P46.2 billion.

The company added 115,082 new fiber-to-the-home lines and 1,549 new 5G sites, extending 5G coverage to over 98 percent in key cities and 80 percent in 151 additional towns.

Despite total debt rising 3 percent to P256.3 billion, Globe maintained robust leverage ratios and financial flexibility, positioning itself for continued growth.