Globe upgrades sites to 4G, builds 220 new cell towers
Globus Telecom Inc. said on Thursday that it had built 220 new cell towers, upgraded more than 3,000 mobile sites to 4G, and deployed about 118,000 fiber-to-the-home (FTTH) lines in the first quarter.
This feat, according to Globe President Ernest Koo, will help the company “meet the dynamic and changing needs of its customers.”
However, Koo noted that the company will focus on “operational efficiency and sustainability of generating free cash flow.”
Globe has cut capital spending this year to $1.3 billion from $1.9 billion in 2022.
In the first quarter, the telecommunications company spent 17.6 billion pesos from its spending program, down 16% from a year earlier.
“Our goal this year is to ensure that the quality of service, reliability and consistency of our network is maintained. In addition to this, we use automation to reduce our operating costs. We have also optimized our on-site infrastructure to reduce capital investment, while we remain committed to continually improving our services,” Koo said.
For her part, Globe’s Chief Account Officer and Head of Strategic Operations Rebecca Eclipse said: “Continuing technology development to improve service performance and network efficiency allows Globe to continue to focus on improving nationwide connectivity, service availability and customers. experience.”
According to Ookla, Globe became the most reliable and stable network in the first quarter, maintaining its status as the “Most Trusted Mobile Network in the Philippines” for the fourth consecutive quarter. In addition, in the first quarter, the company achieved the highest overall technology alignment score of 83.39%.
The Globe expects its core business growth to be “mid-single digits” this year, “despite the severe macroeconomic headwinds” it forecasts in 2023.
In the first quarter, Globe’s net income fell 47% to 7.3 billion pesos from 13.7 billion pesos, largely due to a one-off profit the company posted a year earlier from the sale of its data center.
The company’s core net income remained unchanged at 5.1 billion pesos.