Globe Group Optimistic on Growth Despite Economic Challenges

Sunday, August 20, 2023

lobe is now officially running their business into more of a Tech-co rather than a pure telecommunications company. In recent announcements from the group, there has been strong growth on data and non telco revenues in recent months (first half of 2023) compared to last year. This brings their non telco revenues to 52% year on year amounting to 2.8 Billion pesos. Aside from that, they are optimistic about the impact of the new ST Telemedia Global Data Centres Philippines that broke ground plus Mynt's earnings on GCASH. Growth is also seen on the mobile business, reaching pre-pandemic numbers during the second quarter of 2023 despite extended macroeconomic pressures in PH business conditions and lower voice and text usage in the country.  

Globe also announced their succesful SIM registration efforts getting 99% of their revenue generating base. That's over 53.7 Million registrants since the government implemented it. This is 62 percent of their total number of subscribers, which is already high than their expected turnout and last ditch efforts last month.

Their Fiber business for home got 12.8 Billion Pesos in revenue, but is expecting to have 10% decline on fixed wireless lines. Globe also launched the GFiber Prepaid lines to cushion this impact, and will service a lot of Filipinos with the no tie up and unlimited data use promotions they are implementing for it. They also have a buy now pay later option (on GCash) to make sure it reaches an even wider demographic to serviceable areas in the country. All of these are being managed through the Globe One App, which proved convenient for me (used as a backup).

They are also ramping up corporate data services and are already seeing a 9.1 Billion Peso Data Revenue during the first half of 2023. This includes cloud, business apps, cybersecurity, data center and IOT services that they also offer.   

This event was attended by Ernest Cu the CEO of Globe, Globe's Chief Commercial Officer Issa Guevarra-Cabrera, Globe's Chief Transformation and Customer Experience Officer Rebecca Eclipse, Head of Consumer Mobile Officer Darius Delgado, Globe Group General Counsel Atty. Froilan Castelo, the VP Corporate Finance Carlo Uno, their Head of Network Technical Group Joel Agustin, VP Broadband Business Raymond Policarpio, President of Mynt - GCash Ms. Martha Sazon, CFO of Mynt Tek Olanio, Managing Director of 917Ventures Vince Gamat, CEO and President of ST Telemedia Global Data Centres (STT GDC) Philippines Carlo Malana.

Globe is continuing their commitment in delivering the best and reliable connectivity to all their customers, whether wireless or fixed lines. They remain optimistic in spite of expected slow down in the economy this year, and in 2024.


No comments: