GLOBE’S consolidated gross services revenues recorded an all-time high of P165 billion, or a 2% increase year-on-year from 2024 setting a strong financial performance and sustaining a continued growth momentum for 2025.
The company maintained its lead in mobile with 60.9 million subscribers and the growth is expected to continue, along with corporate data services, which contributed to its high service revenues.
Globe also attained a P86.8-B in earnings before interest, taxes, depreciation, and amortization (EBITDA) with a 7% increase year-on year and at 53% margin, the highest in the company’s history.
Core net income rose at 14% to P21.5-B, driven by the EBITDA record and higher equity share in affiliates, compared to the P18.5B in 2023.
In 2024, Globe installed 1,212 new cell sites (including in-building sites), 4,613 upgraded mobile sites, and 587 5G sites built with 106 towns with 5G connectivity. The 587 new sites aimed to increase the outdoor coverage to 98.69% of the National Capital Region and 96.95% of key cities in Visayas and Mindanao.
“We’re not just expanding network infrastructure. More importantly, we are improving service to customers. We have modernized sites, enhanced our core capacity, and reduced service interruptions. These all reflect our commitment to reliable connectivity,” Globe president and CEO Carl Raymond Cruz said during the annual stockholder’s meeting on Apr 22.
The Philippines is the second user-per-cell site density in Asia with 4,473 SIMs per tower with Nepal ranking first at 4,664 SIMs per year and Bangladesh at third with 3,689 SIMs per year.
