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Globe Is Largest PH Publicly-Listed Telco, Transforms into a Digital Solutions Group
Globe is now the largest telecommunications company in the Philippines in terms of market capitalization. Globe, with trading symbol GLO at the Philippine Stock Exchange, now has a market value of over P363 billion as of end-August trade.
Globe’s high market capitalization shows investors' confidence in the company’s prospects, including its strategy to invest and diversify into adjacent sectors. Once a telco business only, the Globe Group of Companies has expanded into various digital solutions businesses, leveraging its substantial customer base, distribution capabilities, deep market knowledge, and synergies with its strategic partners. Globe has successfully transformed its telco business into a technology-based solutions provider with a footprint in fintech, healthcare, entertainment, adtech, e-commerce, manpower, IT services, and venture capital.
Likewise, Globe's dividend payments are consistent, given its healthy operating results and cash flows. The company returns to its shareholders' dividends equivalent to 60%-75% of its prior year's core net income. Service revenue was at P37.6 billion in the second quarter, while EBITDA was at P19.1 billion. Net income and Core net income for the April to June period came in at P5.7 billion and P5.8 billion, respectively.
“Over the years, Globe has shown remarkable growth as a result of its exemplary performance and sound management decisions. This, in turn, earned the trust of our stakeholders whose support allows us to continuously expand our businesses, offer quality products and services, and reach more customers,” said Ernest Cu, Globe President, and CEO.
To further secure its position as an industry leader, Globe continues to look for new ventures that are ready to scale. Its wholly-owned corporate incubator company 917Ventures is expanding aggressively into new areas that would address various consumer pain points.
Its recent success with the GCash e-wallet service is proof that gains from diversification can manifold at the right time.
Thus, beyond serving the communications and connectivity requirements of its over 85 million mobile and broadband customers, Globe's digital solutions are enabling a robust digital ecosystem for the Filipino.
Affiliates and subsidiaries of Globe include Kickstart Ventures, Asticom Technology, Yondu, and 917Ventures which operates Mynt, KonsultaMD, HealthNow, AdSpark, among others. Its other notable brands include Globe Studios, Globe Live, GOMO, and TM.
Globe supports the United Nations Sustainable Development Goals, specifically UN SDG No. 9, emphasizing the importance of infrastructure and innovation as significant drivers of economic growth and development. Globe is committed to upholding the United Nations Global Compact principles and contributing to 10 UN SDGs.
To learn more about Globe, visit www.globe.com.ph.