Globe Telecom Inc. said Wednesday it signed a 10-year, P7-billion term loan with Land Bank of the Philippines to partly finance capital expenditures this year.
Globe programmed up to $750 million in capital expendture for 2016, with the majority of the amount to be invested in data-related projects, including long-term evolution for mobile and home capacity.
The company plans to finance the coverage augmentation of 3G and high speed packet access plus and modernization of fixed line data infrastructure for transmission requirements.
Globe last year spent P32.1 billion in capital expenditures to support the growing subscriber base and the demand for data.
Globe to date has 28,336 base stations, with over 18,300 for 4G1, to support the service requirements of customers.
Globe posted a net income of P16.5 billion in 2015, up 24 percent from P13.4 billion it booked in 2014.
The growth in profit was supported by one-time gains from the sale of a 51-percent equity stake in Yondu Inc. and the acquisition of a 98.6-percent stake in Bayan Telecommunications Inc.
Globe’s core net income, which excludes the impact of non-recurring charges, including one-time gains and accelerated depreciation charges, foreign exchange and mark-to-market charges, also rose 4 percent to P15.1 billion from P14.5 billion in 2014.
Excluding Bayan’s results, Globe’s net income and core net income jumped 22 percent and 5 percent, respectively, from 2014, the company said.
Globe said it recorded consolidated service revenues of P113.7 billion last year, or 15 percent higher than the previous record of P99 billion in 2014.
Globe’s mobile revenues rose 9 percent to P85.1 billion in 2015 from P78.1 billion reported a year ago, driven by strong revenues across all mobile brands.
Globe’s mobile subscriber base reached 52.9 million as of end-2015, up 20 percent from 44 million subscribers reported in 2014.
Mobile data service revenues surged 55 percent in 2015 to P22.1 billion in 2015 from P14.3 billion in 2014, while broadband business, which now includes Bayan, sustained the growth momentum, increasing both in revenues and subscriber base by 38 percent and 55 percent, respectively.
Total broadband service revenues reached P17.5 billion in 2015, with total subscriber base now at 4.3 million.
Globe’s fixed-line data business improved 40 percent to P7.7 billion in 2015 from P5.5 billion posted in 2014.