Globe Telecom Inc. said Friday it secured a P5-billion term loan from the Bank of Commerce to support its capital expenditures, refinance debt and meet other general corporate needs.
Globe’s capital expenditure guidance for 2025 is below $1 billion, which reflects the company’s continued investments to strengthen and future-proof its network, ensuring it remains responsive to the growing demand for digital services and emerging technologies.
The company invested about P18.9 billion in capex in the first half, or 33 percent lower compared to the same period in 2024.
Globe said that in line with its optimized capital deployment initiatives, the cash capex-to-revenue ratio improved to 24 percent from 34 percent, and the capex-to-EBITDA ratio decreased to 45 percent from 66 percent.
Around 91 percent of Globe’s cash capex was invested in data requirements, reinforcing its commitment to expanding digital infrastructure.
The company reported a net income of P12.4 billion in the first six months of the year, down by 14 percent from P14.5 billion in the same period last year.
This included a P2.6-billion gross gain booked last quarter from the deemed disposal of shares, following MUFG’s acquisition of an 8-percent stake in Mynt, alongside higher equity earnings from affiliates.
These gains helped temper the impact of higher depreciation, interest expense and non-operating charges, the company said.
Stripping out one-off items, normalized net income amounted to P10 billion, or 16 percent lower year-on-year.
