Globe posts record 2025 revenues on data, digital growth

Globe Telecom Inc. reported record consolidated gross service revenues of PHP 165.1 billion for full-year 2025, extending its growth trajectory and surpassing record levels achieved in 2024 despite persistent inflation and the compounded impact of severe natural calamities during the year.

Globe said the disruptions affected connectivity and consumer activity in several regions, particularly in the fourth quarter, but demand for data and digital services remained robust.

Consolidated gross service revenues for the fourth quarter reached a record PHP 43.4 billion, up 5% quarter on quarter, which the company said was supported by increased traffic and mobile data usage, resilient broadband demand, and strong operational execution.

Globe said data-related services spanning mobile data, home broadband, and enterprise connectivity accounted for 88% of total consolidated service revenues in 2025, up from 86% in 2024, highlighting the company’s push to grow beyond traditional telco offerings.

The company’s mobile business posted record service revenues of PHP 116.9 billion in 2025, slightly higher than PHP 116.7 billion in 2024, even as it described the macroeconomic environment as challenging.

Mobile service revenues rose 5% sequentially to PHP 30.7 billion in the fourth quarter, which Globe attributed to customer preference and sustained data usage across prepaid and postpaid.

Globe said its total mobile subscriber base increased to 65.8 million by end-2025, up 8% from 60.9 million in 2024, supported by deeper data habituation, accelerating 5G adoption, and more personalized offers.

Within mobile, Globe reported record mobile data revenues of PHP 101.2 billion in 2025, up 4% from PHP 97.4 billion in the prior year, which it linked to continued 5G expansion and rising engagement in digital content, streaming, and cashless platforms.

Total mobile data traffic reached 6,614 petabytes by end-2025, up 4% year on year, as Globe said it continued to monetize higher usage per customer.

Globe said mobile top-up activity stayed steady across its prepaid brands during the year, with a seasonal uplift in the fourth quarter.

The company reported its mobile data user base expanded to 39.2 million by end-2025, up 5% from 37.4 million, reflecting sustained adoption despite a softer macroeconomic backdrop.

Mobile data accounted for 87% of total mobile service revenues in 2025, up from 83% in 2024, as Globe said customers increasingly prioritize data-centric experiences while voice and SMS continue their gradual decline.

Globe At Home broadband generated PHP 24.0 billion in revenues in 2025, up 1% from PHP 23.8 billion in 2024, as fiber growth offset declines in legacy fixed wireless services.

Fourth-quarter home broadband revenues were steady quarter on quarter at PHP 6.1 billion, with Globe citing an uptick in fiber subscribers and improving customer engagement.

Fiber services grew with revenues rising 6% year on year, as Globe said its total fiber subscriber base increased 43% and lifted broadband subscribers to 2.1 million in 2025 from 1.7 million in 2024.

Fiber accounted for 91% of total home broadband revenues in 2025, up from 87% in 2024, which Globe said validates its fiber-led strategy.

GFiber Prepaid surpassed 820,000 subscribers by end-2025, which Globe said cements its position as the country’s leading mass-market fiber service and as the country’s No. 1, fastest-growing prepaid fiber service.

To address demand for portable, high-speed connectivity, Globe said it broadened its home broadband portfolio with the Globe At Home 5G WiFi loop, which it launched in September 2025 and described as a pioneering device designed to deliver fiber-like speeds and unlimited internet access at home and on the go.

Globe said the 5G WiFi loop has recorded encouraging initial uptake and is offered exclusively in select Globe stores, with an easy plug-and-play setup intended for always-on households.

The company described the device as a “world first” integrating a WiFi router with an Android touchscreen interface, high-quality speakers, and long-lasting batteries, and said it continues to enhance the experience based on customer feedback.

Globe’s corporate data business posted record revenues of PHP 20.7 billion for full-year 2025, up 1% from PHP 20.4 billion in 2024, which the company described as a sign of stabilizing enterprise spending.

Corporate data revenues rose 6% quarter on quarter to PHP 5.7 billion in the fourth quarter from PHP 5.4 billion in the third quarter, which Globe attributed to sustained demand for ICT-related services.

Globe said performance was driven by ICT solutions including cybersecurity, cloud solutions, and Business Application Solutions, partly offset by declines in core data services as enterprises remained cautious.

Business Application Solutions grew 31% quarter on quarter, as Globe said it is advancing its enterprise portfolio through AI integration and investments in digital infrastructure such as subsea cables and data centers.

Outside its core businesses, Globe said its non-telco portfolio generated PHP 2.3 billion in revenues for 2025, down 12% year on year, as softer advertising results from AdSpark and lower Asticom revenues outweighed improvements from Yondu.

Globe reported total operating expenses and subsidy of PHP 77.5 billion for full-year 2025, down 1% from the previous year, driven largely by lower marketing and subsidy costs that declined 25% year on year.

The company also reported reductions in provisions (down 9%), services and other costs (down 3%), and staff costs (down 1%), while utilities and administrative expenses eased 2% to PHP 11.5 billion.

Globe said these savings were partly offset by higher interconnect costs (up 18%), lease expenses (up 10%), and repairs and maintenance (up 10%).

On a sequential basis, Globe said total operating expenses and subsidy increased 3% in the fourth quarter due largely to higher marketing and subsidy spending and increased repairs and maintenance, partly mitigated by quarter-on-quarter declines in staff costs, utilities and other administrative expenses, lease expenses, and provisions.

Full-year 2025 EBITDA reached PHP 87.6 billion, up 1% from the previous year, while fourth-quarter EBITDA rose 6% quarter on quarter to PHP 23.4 billion.

Globe said its EBITDA margin held at 53.1%, which it said surpassed guidance and underscored its ability to maintain profitability while continuing to invest in network quality and customer experience.

Mynt, the parent company of GCash, delivered an equity share to Globe of PHP 6.1 billion for the full year ended December 2025, contributing around 22% of Globe’s pre-tax income.

Globe said Mynt’s fourth-quarter equity share was affected by a change in accounting policy for loan processing fee revenue recognition, a regulatory change on licensed online gaming, and seasonally higher spending in the fourth quarter.

The company said Mynt’s full-year performance remained strong, supported by growth in its CreditTech business and its core payments and transfers business.

For full-year 2025, Globe reported net income after tax of PHP 23.3 billion, slightly lower than PHP 24.3 billion in 2024, which it attributed to elevated depreciation and interest expenses.

Globe said the total included non-recurring items such as gains from the deemed disposal of Mynt shares related to MUFG’s equity investment earlier in the year, as well as gains from a tower sale and leaseback deal.

Excluding these one-off items, Globe said normalized net income ended at PHP 20.8 billion, down 4% year on year.

Core net income after tax, which Globe said removes the impact of non-recurring items such as asset sales, foreign exchange movements, and mark-to-market adjustments, amounted to PHP 20.9 billion, compared with PHP 21.5 billion in the previous year.

As of end-December 2025, Globe reported total debt of PHP 256.3 billion, up 3% from PHP 249.5 billion at end-2024, which it said reflected prudent funding to support capital investments.

Globe reported leverage ratios of Gross Debt to EBITDA at 2.63x, Net Debt to EBITDA at 2.38x, and a Debt Service Coverage Ratio of 3.20x, which it said remained within covenant thresholds.

The company said capex was streamlined by 18% year on year to PHP 46.2 billion in 2025, enabling Globe to enter positive free cash flow within guidance.

“Our fourth-quarter results marked another resilient year for Globe,” said Carl Raymond R. Cruz, President and CEO of Globe Telecom Inc.

“Coming off a record 2024, we gathered momentum in the last three quarters following a soft start and delivered a record performance in 2025, reaffirming the strength, and adaptability of our core business,” Cruz said.

“The sustained pace across mobile, broadband, and corporate data, coupled with disciplined cost management, enabled us to achieve positive free cash flow while continuing to invest in network quality and customer experience,” he said.

“This performance reflects the commitment and malasakit of our teams, who never lose sight of what matters most — serving our customers better amid a rapidly changing and challenging business environment,” Cruz said.

Globe said it will focus in 2026 on expanding its 5G footprint, broadening GFiber Prepaid’s reach, and scaling digital ventures such as GCash and enterprise solutions to meet shifting consumer demand.

“Our 2025 results provide a solid springboard for 2026, as we deepen our focus on creating everyday impact for our customers,” Mr. Cruz added.

“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,” he said.

“As digital becomes part of daily life, Globe’s mission remains clear: to anticipate our customers needs and deliver meaningful innovation that improves lives, empowers communities, and supports the country’s broader push toward digitalization and inclusive growth,” Mr. Cruz said.

Globe also highlighted third-party network recognition, saying Ookla hailed the company as the Philippines’ “most consistent” in both mobile and fixed network.

The company said it extended network leadership with Starlink Direct to Cell satellite connectivity, which it described as the first in Southeast Asia.

Globe said it earned its first-ever Great Place to Work certification and was recognized by CDP as a climate leader, citing a rating upgrade of A- for climate.