Globe has announced a record-breaking financial performance for 2023, achieving a consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) of PHP81.4 billion, marking a 3% increase from the previous year’s PHP79.1 billion.
This growth was driven by a 3% rise in consolidated service revenue, reaching PHP162.3 billion, up from PHP158.0 billion in 2022, and was attributed to the company’s focus on mobile, corporate data, and expanding non-telco services.
Ernest Cu, Globe Group’s President and CEO, highlighted the achievement as a testament to Globe’s strong financial condition and its ability to grow profitably amid intense market competition.
Data revenues, constituting 83% of total service revenues, underscored the increasing importance of digital services in the Philippines.
The mobile segment particularly shone with an all-time high revenue of PHP112.4 billion, fueled by demand for mobile data which now accounts for 81% of mobile revenues.
Corporate data revenues also hit a record PHP18.3 billion, a 7% increase from the previous year, reflecting Globe’s significant role in the digital transformation of Filipino enterprises.
Additionally, non-telco revenues grew by 18%, contributing 3% to the total consolidated service revenues, despite the deconsolidation of ECPay following its sale.
Globe is set to continue its growth trajectory, focusing on customer-centric digital solutions, network excellence, and strategic investments in 5G and fiber technologies, positioning itself as a leader in the Philippines’ digital transformation. – PhilippinesToday.ph