| THE AYALA WAY

Vol 6 No 47

"Notwithstanding our first-quarter results, we remain steadfast in driving our strategic agenda forward and unlocking greater operational efficiency across the business. [...] With a customer-first mindset, a strong sense of purpose, and a drive for operational excellence, we are confident in our ability to create long-term value and lead in this dynamic digital landscape."

CARL RAYMOND CRUZ
Globe President and CEO

INSPIRE EXCELLENCE

Globe Sustains Profitability in 1Q 2025

Globe delivered P39.9 billion in consolidated gross service revenues for the first three months of 2025, reflecting a 3 percent decline year on year amid a challenging market environment. Despite the soft topline, the company’s digital services remained a strong pillar of growth, with combined mobile and corporate data revenues rising to 83.2 percent of total consolidated gross service revenues, a slight improvement from 82.8 percent in the same period last year. This strengthened digital contribution underscores Globe’s continued success in addressing the evolving needs of consumers and businesses, solidifying its leadership in the rapidly expanding digital economy.

Further reinforcing this trend, total data revenues, which include mobile data, broadband, and corporate data, rose to 87 percent of total gross service revenues, up from 85 percent in 2024.

Non-telco revenues held steady at P567 million in the first quarter of 2025. The flat performance reflects strong growth from Asticom and a solid uptick from Yondu, which together helped counterbalance the decline in AdSpark’s contribution.

Globe reported a net income of P7.0 billion as of end-March of 2025, a 3 percent increase from P6.8 billion in he same period of 2024. Excluding nonrecurring items such as the one-time gain on the deemed disposal of Mynt and gain on sale and leaseback of towers, as well as foreign exchange and mark-to-market adjustments, Globe’s core net income reached P4.5 billion, 22 percent lower than the P5.8 billion recorded in the first quarter last year.

Globe maintained a strong and stable balance sheet, comfortably meeting all bank covenants. Total debt declined by 3 percent, from P249.5 billion as of end-December 2024 to P242.0 billion as of end-March 2025. The company’s key gearing ratios held strong, with gross debt to EBITDA at 2.54x, net debt to EBITDA at 2.34x, and a debt service coverage ratio of 3.11x, affirming Globe’s solid financial position and sound financial strategy.

Read the full disclosure and press statement on the company website or PSE Edge