Globe Telecom today said it will invest $850 million towards capital expenditures (Capex) in 2015.
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Out of $850 million, $200 million will be from Capex allocated for 2014. This means, the actual Capex for 2015 will be $650 million.
“With the $200 million Capex, which was initially estimated in 2014, expected to slide into the early parts of 2015, total cash Capex for 2015 would be approximately $850 million,” said Globe Telecom in a statement.
Globe Telecom will be investing nearly 75 percent of Capex in data, including spend for deployments of LTE mobile and LTE @Home, capacity and coverage of the 3G, HSPA+ and DSL network, as well as requirements for domestic transmission and international cable capacities.
The balance Capex will be earmarked for business support systems in line with product innovations, and other corporate Capex.
Globe Telecom revenue
Globe Telecom today said its service revenues grew to P99.0 billion in 2014 from P90.5 billion in 2013.
Growth in 2014 net profit was 25 percent to P14.5 billion, driven by performance of its mobile, broadband, and fixed line data businesses.
Data connectivity across the mobile, broadband and fixed line data businesses, improved 7 percent, 22 percent and 17 percent, respectively.
Globe President & CEO Ernest Cu said: “Reaping the benefits of our modernized network, with 100 percent 3G and 4G coverage, we have seen a steady and healthy growth in both our mobile and broadband businesses, surpassing all of our expectations.”
Mobile service revenues, which contributed 79 percent of consolidated revenues, grew 7 percent to P78.1 billion in 2014.
Globe’s broadband business achieved 22 percent growth in revenues and 37 percent growth in customer base in 2014.
Globe has nearly 2.8 million broadband subscribers, with fixed broadband growing at 16 percent, wireless broadband at 42 percent and LTE at 377 percent.
Baburajan K
editor@telecomlead.com
