Globe trims capex, expands 5G and GCash footprint

Globe Telecom Inc. cut its capital expenditures to PHP 31.4 billion as of end-September 2025, marking a 23% decline from PHP 41.0 billion in the same period last year.

The trimmed spending aligns with its full-year guidance of staying below USD 1 billion in capex as it emphasizes strategic capital management while prioritizing digital infrastructure and essential network upgrades.

The reduced capex represented 26% of the company’s topline, reflecting an improved cash capex-to-revenue ratio from 33% a year ago.

The capex-to-EBITDA ratio also narrowed to 49% from 63%, further bolstering Globe’s free cash flow position and its flexibility to pursue targeted network initiatives.

Globe said around 89% of the total capex was allocated to data-related projects, reinforcing its long-term digital roadmap.

“To empower more Filipinos in a digitally connected economy, Globe is channeling investments based on customer demand and technological advancement,” the company said in a statement.

By end-September 2025, Globe had built 1,375 new cell sites and upgraded 8,699 existing ones, aiming to enhance mobile reliability and service quality.

The company also rolled out 60,193 fiber-to-the-home (FTTH) lines to address the growing demand for fast and stable internet.

Globe further widened its 5G network with 877 new sites installed in strategic locations nationwide.

Its 5G outdoor coverage reached 98.71% in Metro Manila and 98.31% in key cities in Visayas and Mindanao.

Internationally, Globe maintained 168 inbound and 183 outbound 5G roaming agreements across 99 countries, allowing seamless service for Filipino travelers.

“These investments expand coverage, enhance service quality, and open greater access to education, commerce, and communication,” Globe said.

The company added that these efforts align with the United Nations’ Sustainable Development Goal No. 9, focusing on industry, innovation, and infrastructure.

In the financial technology front, Globe Fintech Innovations Inc. (Mynt), a partnership among Globe, Ayala Corp., and Singapore-based Ant International, continued to expand the reach of its flagship product, GCash.

GCash remained the country’s top finance super app as of September 30, 2025, based on data from analytics firm data.ai.

Its payment services allow users to send and receive money, purchase prepaid load, pay bills, and shop from partner merchants and social sellers.

GCash has also expanded overseas, now enabling payments in over 200 countries and territories via the GCash Visa Card and Global Pay through its partnership with Alipay+.

As of end-September, GCash served Filipinos in 145 countries through GCash Overseas, which allows use of the app with international mobile numbers for services like sending money, paying bills, and buying load.

GCash also broadened access to financial services with its CreditTech and WealthTech offerings.

Through proprietary credit scoring system GScore and operated by Fuse Lending, it provides GCredit, GLoan, GGives, and micro-credit options like Sakto Loan and Borrow Load, benefiting primarily low-income users.

The platform also offers wealth management services including savings via GSave; investments through GFunds, GStocks, GCrypto, and the newly launched GBonds; and insurance products under GInsure.

Its sustainability initiative, GForest, allows users to accumulate green energy points and plant trees.

“As of September 30, 2025, more than 4.2 million trees have been planted, enabling GCash users to build a greener tomorrow,” Globe said.

Meanwhile, Globe’s data center arm, ST Telemedia Global Data Centres Philippines (STT GDC Philippines), opened its first data hall in STT Fairview 1 during the third quarter.

The site is now operational with a key 1MW customer deployment, and its Level 2 fit-out is underway.

STT Cavite 2 has also been energized, with testing and commissioning currently in progress.

STT GDC Philippines, a joint venture among Globe, ST Telemedia Global Data Centres, and Ayala Corporation, said it will continue advocating for industry development and sustainability through events, business engagements, and sales campaigns.