MANILA, Philippines — Globe achieved positive free cash flow status in the first half of the year and posted a quarter-on-quarter topline recovery.
Focusing on financial discipline, optimizing capital deployment, and strong operational momentum, Globe’s gross service revenues grew one percent from the previous quarter, driven by improving mobility and stronger digital engagement across segments.
“We’re very pleased with our performance in the second quarter. If one takes a look at a quarter-on-quarter perspective, gross service revenue is now back in the growth area,” Globe President and CEO Carl Cruz said.
The turnaround would indicate stability and solid footing for the company, with which it can build upon for better growth in the second half of the year, Cruz added.
Emphasizing operational efficiency and capital optimization, Globe chief finance officer Carlo Puno said the company has been ensuring that it has the right amount of capital for all its initiatives.
“This is part of our broader effort to diversify funding sources and optimize our capital structure, so we can manage the cost of funding while supporting strategic programs,” Puno said.
The company’s chief commercial officer, Darius Delgado, said that consumer demand also showed resilience in the second quarter, especially in mobile data usage and fiber broadband adoption.
“The Q2 results indicated momentum after two consecutive quarters of decline. Our sharpened pricing strategies, segmented offers, and consistent network experience helped offset spending fatigue, particularly among prepaid users,” Delgado said.
While its mobile business remained the largest contributor to topline, its Home Broadband has posted a one percent quarter-on-quarter growth in service revenues amid increasing demand for fiber, the company said.
During the period, Globe sustained its network expansion with 937 new cell sites, 4,512 LTE upgrades, and over 35,800 new fiber-to-the-home (FTTH) lines.
It also rolled out 444 new 5G sites, extending outdoor coverage to 98.71 percent in Metro Manila and 98.19 percent in key cities in the Visayas and Mindanao.
While it continued migrating over 600 towns to full fiber, fully phasing out legacy copper lines, Globe likewise optimized its infrastructure assets to support long-term operational and financial resilience alongside its network expansion.
Having turned over 6,945 towers to date, and generating approximately ₱89.3 billion in proceeds including the latest transaction in July involving 96 towers sold to two companies for over ₱1.3-billion, Globe said it is approaching the final phase of its tower sale and leaseback program.
Globe vowed to remain focused on achieving sustainable growth while preparing the business for long-term value creation which includes disciplined capex planning, monetization of non-core assets, and improved efficiencies across network and commercial operations.
“We are optimistic that in the next quarters or balance of the year, this momentum shall continue,” Delgado said.
