Globe Telecom, the telecommunications arm of the Ayala Group, aims to become the “largest, most profitable, most admired” telco in the country.
“Our ambition is to be the largest, most profitable, most admired, and highly engaged telecom company in the country. Backed by purpose, technology,
and people, we are building a progressive and inclusive digital nation,” said Carl Raymond Cruz formally stepped into his role as Globe’s new President and Chief Executive Officer.
At the “Go Forward Together” media briefing, Cruz presented a clear roadmap for the company, with low to mid single digit growth, 50 percent EBITDA, capital expenditures of US$1 billion, and a positive free cash flow through 2025.
As the fastest digital economy in Southeast Asia, with the second highest user-per cell site density in Asia, close to 9-hour daily consumption per person, and young population, Cruz said they are in the best position to capture the upsides with continued network investment, expansion, and best in class customer experience in its network.
Cruz said that while Globe aims a low to mid single digit growth guidance in service revenues this year, this growth should accelerate as the economy improves and maintains its ranking as fastest growing digital economy in Southeast Asia over a five year period.
He said the largest growth would come from its B to B enterprise segment of its business in a couple of years.
“With the Philippines entering a phase of economic normalization and a large digital-native customer base driving long-term demand, Globe is well-positioned to lead the country’s digital progress,” Cruz said. “We are focused on inclusive growth by widening access to technology and financial tools that make everyday life better.”
Globe’s strength lies in the synergy of its dual growth engines. With connectivity from Globe and financial inclusion via GCash, the company serves everyday needs across the digital lifestyle spectrum, making Cruz’s vision of digital inclusion more attainable.
The telco leader boasts a strong mobile and fiber footprint, while GCash serves 8 out of 10 Filipinos and connects over 6 million merchants and social sellers through e-commerce, payments, lending, insurance, and investments.
“Our ambition is to be the largest, most profitable, most admired, and highly engaged telecom company in the country. Backed by purpose, technology, and people, we are building a progressive and inclusive digital nation,” Cruz added.
Globe’s solid performance in 2024 demonstrates that it is advancing in step with the industry. The company reported an all-time high PHP165 billion in gross service revenues, a 2 percent increase year-on-year, while maintaining its lead in mobile with 60.9 million subscribers.
At the same time, GFiber Prepaid reached 260,000 subscribers, which combined with postpaid fiber, delivered the first sequential broadband revenue hike in 13 quarters since 3Q 2021. Core services under the Corporate Data segment also rose by 9 percent, underscoring the relevance of its connectivity solutions.
High user demand signals market strength but also highlights the need for continued expansion. To address congestion and deliver better service, Globe optimizes network investments, especially on mobile, while shifting fiber strategy toward port utilization.
As in previous years, the majority of capital expenditure was allocated to data-related requirements, ensuring customers can access reliable, high-quality digital connectivity.
In 2024, Globe deployed 1,212 new cell towers, including in-building installations, and upgraded 4,613 mobile sites. It also fired up 587 new 5G installations, bringing 5G outdoor coverage to 98.69% of the National Capital Region and 96.95% of key cities in Visayas and Mindanao, reaching approximately 106 towns.
Globe’s digital inclusion efforts also include the rollout of over 600 cell sites in geographically isolated and disadvantaged areas (GIDAs) and online safety initiatives such as #MakeITSafePH, Senior Digizen, and the Digital Thumbprint Program.
