Globe continues to optimize its capital investments with a sustained reduction in capital expenditures (capex) in 2025 to under US$1 billion with the objective of achieving positive free cash flow, reinforcing its commitment to financial discipline and long-term sustainability.
“We are pleased with our performance in 2024, which underscores the strength and resilience of our financial position,” said Ernest Cu, Globe President and CEO. “Our focused approach to capex, coupled with the ongoing optimization of our network, has enabled us to achieve strong income growth and improved free cash flow. We are excited to continue building on this momentum in 2025.”
Globe’s capex for the year amounted to Php56.2 billion, a 20% decrease compared to the previous year, and remained within its full-year guidance.
Notably, 90% of the capex was directed towards data-related investments, ensuring that Globe’s network infrastructure continues to meet growing demand for digital services.
Likewise, the capex-to-revenue ratio decreased from 44% in 2023 to 34% in 2024, reflecting Globe’s prudent capital allocation strategy.
Meanwhile, Globe’s total debt slightly decreased from Php250 billion in 2023 to Php249.5 billion in 2024. The key gearing ratios for this period include a gross debt to EBITDA of 2.66x, net debt to EBITDA of 2.43x, and a debt service coverage ratio of 3.42x.
Globe remains confident in its ability to achieve its financial objectives, with a disciplined approach to investments and a strong focus on operational efficiencies.
