Globe Telecom ( (GTMEF) ) has released its Q4 earnings. Here is a breakdown of the information Globe Telecom presented to its investors.
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Globe Telecom, Inc., a leading telecommunications company in the Philippines, specializes in mobile, broadband, and corporate data services, driving digital and financial innovation through its vast network and subsidiaries.
Globe Telecom showcased a robust financial performance in 2024, achieving record service revenues and EBITDA, driven by strong growth in mobile and corporate data segments despite challenges such as inflation and natural disasters.
The company’s consolidated gross service revenues reached ₱165.0 billion, marking a 2% year-on-year increase, while EBITDA grew by 7% to ₱86.8 billion, exceeding expectations with a margin of 52.6%. The mobile segment notably contributed, with revenues of ₱116.7 billion, up 4% from the previous year, bolstered by consumer preference for data applications. Corporate data also marked a significant 11% increase, underpinned by advances in ICT and cybersecurity services.
In a strategic move to optimize capital and align with free cash flow objectives, Globe cut its capital expenditures by 20% to ₱56.2 billion, focusing on data-driven investments. The company also saw gains from its fintech arm, Mynt, which contributed significantly to pre-tax net income.
Looking ahead, Globe Telecom aims to continue leveraging its network enhancements and digital innovations to expand its market presence in 2025, maintaining its commitment to driving digital transformation in the Philippines and delivering sustainable value to its stakeholders.
