Message from the President and CEO

To Our Valued Stakeholders,

In a year defined by both extraordinary challenges and significant milestones, Globe has remained steadfast in its mission to uplift the lives of Filipinos. By providing enhanced value, elevating customer experience, and deepening our commitment to safeguard the planet, we aim to create a lasting positive impact for our customers and communities to thrive. Reflecting on this journey, we are profoundly grateful for your unwavering trust and support, all essential in fulfilling our goal towards building a digitally empowered Philippines.

Our dedicated corps of talents has consistently performed their roles to enhance our standing as a leader in the telecommunications industry.

Showcasing Performance 

Globe closed the year 2024 with solid financial results owing to a strong commitment to market repair and fiscal responsibility. We achieved Net Income After Tax (NIAT) of ₱24.3 billion. Accordingly, Core NIAT reached ₱21.5 billion, reflecting a solid 14% surge and marking the second-highest in Globe’s storied history. Our EBITDA grew ₱86.8 billion, a 7% increase year-on-year, further punctuating our drive for profitability and operational efficiency.

We maintained our status as a revenue market leader, with mobile and corporate data segments playing pivotal roles. Mobile revenues climbed to a record-breaking ₱116.7 billion, surpassing 2023’s ₱112.4 billion, accounting for 71% of consolidated service revenues. Mobile data revenues also reached an all-time high of ₱97.4 billion, growing by 7%, driven by the evolving digital habits of Filipinos reliant on mobile applications for their diverse needs. Similarly, our corporate data business posted a record ₱20.4 billion in revenues, impressively growing by 11%, buoyed by strong demand for ICT and core data services.

Still a strong third player in Broadband, we realized a 2% increase in Fiber Broadband revenues with a 16% uptick in subscriber count, reflecting the growing adoption of GFiber Prepaid (GFP). GFP achieved a 74% quarter-on-quarter subscriber growth, underlining the effectiveness of our strategy to make data-driven services more affordable and accessible to mass markets. These milestones reinforce Globe’s position as a leader in connectivity and digital solutions, even as we strengthen the digital ecosystem of our country.

Uplifting Lives 

This inclusive play requires a robust and reliable network infrastructure. In 2024, we built 1,212 new cell sites, including in-building sites, upgraded 4,613 sites with LTE, deployed 67,456 FTTH lines, and added 587 5G sites. These efforts brought near-universal coverage to key regions, reaching 98.69% in the National Capital Region and 96.95% in key cities of Visayas and Mindanao. We connected over 9 million devices to our 5G network for the month of December alone, up by 55% from 2023 of the same month.

We are thrilled to be recognized by an international party, Ookla, for our reliable connectivity. Globe was named the Most Consistent Network in the Philippines from 2022 to 2024. Ultimately, the consistency of our high-performing network is the heartbeat of our business. By making customer centricity our core strength and key differentiator, we built a strong foundation, found in the Globe Way culture to always put customers first.

Elevating Customer Experience 

With consistent network performance, our Net Promoter Score grew steadily, reaching 43.3 in 2024.

The GlobeOne application is the centerpiece of our customer experience transformation efforts. This super app is a comprehensive, user-centric tool designed to streamline service management, making it easier for our customers to transact with us.

• Efficiency and Accessibility: The implementation of instant eSIM activation and easy fiber application has significantly reduced customer friction, eliminating the need for physical store visits and expediting service acquisition.
• Financial Empowerment: The integration of AI-driven personalized spending insights and flexible data management options, such as GPlan Plus, has empowered customers to optimize their expenditure and derive maximum value from our services. Furthermore, the enablement of prepaid users as digital entrepreneurs has created tangible economic opportunities.
• Enhanced User Engagement: The gamified rewards and savings system, coupled with the advance booking of roaming promos, has enhanced user engagement and extended value for money for every customer transaction.

Our goal is to ensure that every interaction with Globe is characterized by efficiency, value, and seamlessly digital.

Moving forward, our priority will focus on customer experience to ensure that any technological advancement will translate into tangible benefits for our customers.

Empowering Each Ka-Globe 

Globe champions its people-first philosophy by fostering a high-performing organization rooted in empowerment, collaboration, and innovation. At the heart of this culture is a purpose-driven workforce, where every Ka-Globe is equipped with the tools, support, and opportunities needed to thrive in today’s digital and technology-driven environment.

Diversity, Equity, and Inclusion and Belonging (DEIB) 

Globe maintains a gender-balanced workforce, with 44% of our team being female. Demonstrating our commitment to inclusivity, the company debuted its disability sensitivity training, aimed at equipping teams to better engage with persons with disabilities (PWDs). This initiative ensures that new PWD employees experience a seamless onboarding and immersion within their teams. Strategic partnership with organizations such as Project Inclusion Network (PIN) and the Philippine Business Diversity Network (PBDN) further enhances Globe’s robust DEIB agenda.

Additionally, your company became the first telco in the region to align with the global Working With Cancer pledge, joining over 1,700 organizations worldwide committed to supporting employees battling cancer.

#AlagangGlobe – Care in Action 

Through our #AlagangGlobe initiative, we advocate authenticity, genuine care, and compassion.

By putting its people first, Globe empowers each Ka-Globe to deliver impactful results while fostering a workplace and community where innovation, respect, and inclusion flourish.

Beyond the borders of the company, we concluded the Hapag Movement, a program dedicated to combating involuntary hunger through feeding initiatives, livelihood training, and education. We successfully met our four-year target of assisting 100,000 vulnerable families one year ahead of schedule.

By the end of 2024, the Hapag Movement provided support to 120,455 families, backed by ₱53 million in donations from corporate partners and Globe customers. Efforts to sustain and expand the program will continue in 2025, with particular focus on livelihood enrichment and alleviating child stunting to help nurture the next generation of healthy Filipinos.

Embedding Sustainability Into Operations 

Your company’s resolve to create a Globe of Good has never been stronger, embedding sustainability into every aspect of our operations and ensuring that our growth contributes to a healthier planet and a more equitable society.

Environmental Stewardship

• Decarbonization Journey: Our dedication to mitigating climate change began in 2014, predating the validation of our net-zero targets by the Science-Based Targets initiative in 2024. We have since deployed over 38,000 green solutions, demonstrating our tangible commitment to reducing our environmental footprint.
• Renewable Energy Transition: As the first telecommunications company in the Philippines to achieve ISO 50001 certification for Energy Management Systems, we have established a robust framework for energy efficiency. In 2024, 29 high-energy utilization sites are powered by renewable energy, contributing to 24% of our total electricity consumption being sourced from renewable sources.

Digital Integrity and Safety

• Cybersecurity and Data Privacy: One of the unintended consequences of digitalization is the rise of cyber threats. Globe has made online safety one of our key priorities. In 2024, we blocked 978,106,959 spam and scam messages and 417,640 domains and URLs containing child sexual abuse and exploitation materials. We also pioneered the blocking of non-photographic imagery (NPI) of child sexual abuse, including AI-generated content, further enhancing our efforts to safeguard children online.
• Campaigns: Our #PlayItRight campaign combats digital piracy, educating the public on the importance of consuming content from legitimate sources. The #MakeITSafePH campaign provides practical cybersecurity education, empowering Filipinos to protect themselves from online threats.

Supply Chain Sustainability

• Vendor Empowerment: Recognizing the importance of collective action, we have launched the Sustainability Academy for Supply Chain, providing our vendors with the knowledge and tools to integrate sustainable practices into their operations. In 2024, we engaged with over 56 vendors through webinars focused on GHG emissions and sustainable supply chain management.

Global Collaboration

• GSMA Membership: As an active member of the GSMA’s Sustainability Network Group, Climate Action Taskforce, and AI for Impact Taskforce, we contributed to industry-wide discussions and the development of best practices in sustainability. The GSMA’s ESG Metrics for Mobile has been instrumental in shaping our sustainability strategy.

All these efforts have been acknowledged by Filipino consumers, who awarded Globe the Most Sustainable Brand in the 2024 Consumer Choice Awards Philippines: Mobile Network Survey by Standard Insights.

We will continue to leverage technology and our resources to create a positive impact, giving priority to initiatives that promote environmental stewardship, digital integrity, and sustainable supply chain practices. We will remain mindful and true to the practice so that our growth contributes to a more sustainable and responsible future.

Maraming Salamat, Globe 

2024 marked my sixteenth and final year as your President and CEO—a truly incredible chapter in my life and in Globe’s remarkable story. It is often said that all good things must come to an end, and my tenure has reached its sunset. Steering Globe has been akin to navigating a vast ocean - sometimes weathering unexpected storms, other times sailing through calm waters illuminated by unending horizons of opportunities. Through it all, we have kept our course steady - customer-centric innovation to grow the business, uplift lives, and steer communities towards progress.

When I first joined, Globe held about 33% of the mobile market—a distant second at the time, caught between a strong incumbent and an aggressive third player. Yet, through your steadfast support and our shared commitment to innovation, we achieved what we thought was impossible—a digitally-empowered Philippines and overall mobile leadership. We transformed our network and aggressively shifted our strategy to deliver reliable internet access to millions of Filipinos nationwide. By making customer centricity our core strength and key differentiator, we have built a strong foundation, found in the Globe Way culture to always put customers first.

Having transformed ourselves from a traditional telco company into a leading digital solutions provider, we created a US$5 billion unicorn in GCash and advanced financial inclusion in our country. We have expanded our digital platforms and businesses through 917Ventures. We have also funded more advanced digital ecosystems through Kickstart Ventures. Through these initiatives, Globe has spearheaded groundbreaking solutions in fintech, adtech, e-commerce, and more, furthering its commitment to nation-building through digital transformation. We also thank our strategic partners who have bravely collaborated with us and helped steer the company to success.

Together, we have redefined what it means to be a purpose-driven company, continuously breaking barriers, enriching lives, and elevating experiences. This milestone is not the close of a chapter, but the beginning of new opportunities, with Globe continuing to thrive and expand its horizons.

As I pass on the helmship to Carl Raymond Cruz, I do so with confidence that under his stewardship, the Circle of Happiness we have nurtured will continue to spin, touching lives and inspiring countless others. Carl’s wealth of experience, especially in consumer markets, will guide Globe into an even brighter future and continued service to the Filipino people.

With deep gratitude and immense hope, I am excited to witness the next chapter unfold.

Thank you for the years of trust and confidence.