Globe Telecom, which has over 91 million customers, has revealed its Capex touched ₱74.4 billion or $1.3 billion (+14 percent) in the first nine months of 2022.
FY22 represents peak Capex and will trend lower in 2023 with target to decline to $1 billion level by 2024, Globe Telecom said.
Globe Telecom has retained FY22 Capex guidance of $1.7 billion.
Globe Telecom did not reveal its Capex for building 5G networks. But Globe Telecom said 84 percent of its spending was for data related requirements to enhance the customer data experience. These data requirements include additional LTE upgrades, new 5G sites, more tower builds, and Fiber to the Home (FTTH) rollout.
Globe Telecom said close to 1.4 million FTTH lines were deployed as of end-September of 2022, versus over one million lines from a year ago.
Globe built 1,064 new cell sites, upgraded over 10.6 thousand mobile sites to LTE, and installed 1,887 new 5G sites nationwide to address the growing connectivity needs of the Filipinos amid greater digitalization. Globe’s network rollout momentum continues and remains on track to surpass last year’s builds of 1,407.
Globe’s 5G outdoor coverage has reached 97.1 percent of the National Capital Region and 87.7 percent of key cities in Visayas and Mindanao. As of end-September 2022, Globe logged over 3 million devices in its 5G network.
Globe Group’s service revenue for the nine-months ended September 30, 2022 rose 3 percent to ₱118 billion, led by corporate data and mobile services, supplemented by the sustained growth from non-telco services.
Total data revenues as a percentage of total consolidated service revenues grew to 81 percent from 79 percent last year. Mobile data revenues grew 8 percent to ₱62.5 billion in the first nine months of the year from ₱57.9 billion in the same period of 2021. Mobile data now accounts for 78 percent of mobile revenues versus 74 percent last year.
Globe’s postpaid fiber subscribers and revenues posted 64 percent and 108 percent growth year-on-year. However, the increasing fiber adoption among its customers drove the continued migration of HPW subscribers to fiber.
“Our decision to pivot and expand our growth opportunities through non-telco services has paved the way for us to remain relevant and competitive. We will stay committed to our promise to improve our network and come up with new products and services to meet the changing needs of the market and support Filipinos’ digital enablement,” Ernest L. Cu, President and CEO of Globe Telecom, said.
