Our commitment to innovation, sustainability, and inclusive growth has driven us to new heights, as we continued to expand our digital infrastructure, and introduced groundbreaking solutions that catered to the evolving needs of our customers and communities. 

Showcasing Performance

Your company's focus on creating collective value helped achieve significant business milestones, despite multifaceted challenges. 

Our Net Income After Tax (NIAT) reached ₱24.578 billion, complemented by an impressive Earnings before interest, taxes, depreciation, and amortization (EBITDA) of ₱81.427 billion.

Our pursuit of diversification beyond traditional telco services yielded positive results, with non-telco revenues growing 18% this year. This growth is a testament to our agility and responsiveness to market demands, ensuring that your company remains at the forefront of innovation.

The mobile business, a cornerstone of our operations, reached a historic high with service revenues of ₱112.4 billion, surpassing the previous record of ₱107.5 billion in 2022. This success solidified Globe’s leadership in the market, with mobile revenues accounting for 69% of our consolidated service revenues. Our commitment to providing unparalleled mobile experiences has resulted in a thriving mobile customer base of 57 million post-SIM registration, with increased gross mobile average revenue per user or (ARPU) across all brands. Mobile data revenues now comprise 81% of total mobile service revenues from 78% last year. 

In the realm of business connectivity and information and communication technology (ICT), your company achieved steady progress, with corporate data revenues reaching ₱18.3 billion or 7% better than last year, marking a 14% annual increase and setting a new record. This growth underscores the expanding role of Globe's ICT solutions and services in the digital transformation of businesses across the Philippines.

Home Broadband business softened by 7% against the ₱27.1 billion revenues from 2022 mainly due to the ongoing normalization in fixed wireless, but this was partially mitigated by sustained growth in postpaid fiber. We have seen encouraging developments, particularly with the launch of GFiber Prepaid for the mass market in the second half of 2023. Our focus on acquiring quality subscribers has been met with positive feedback from customers, evidenced by GFiber Prepaid users having the highest reload rate and loader Average Revenue Per User (ARPU) among Globe brands.

In bridging the digital divide, your company achieved significant milestones that  helped improve the connectivity experience across the country. We participated in the Philippine Domestic Submarine Cable Network (PDSCN) project, laying 2,500 kilometers of submarine fiber optic cable, representing a landmark accomplishment in our effort to boost mobile and broadband connectivity, especially in underserved areas. 

Moreover, our expansion of 5G outdoor coverage, reaching 97.90% in the National Capital Region and 92.36% in key cities of Visayas and Mindanao, alongside connecting over 5.8 million devices to our 5G network in December 2023 alone, highlights our efforts to provide cutting-edge technology to our customers.

Reaping the benefits from our IT modernization to deliver frictionless customer experience, Globe’s Net Promoter Score reached 43, which is above the Asia-Pacific telco benchmark. 

Uplifting Filipinos as One Globe

Your company’s purpose to uplift the lives of Filipinos through technology has never been stronger. Through our diverse initiatives, we have not only connected people but also empowered communities, fostering a digital nation that is accessible and equitable for all.

At the forefront of our achievements is the transformation brought about by GCash, the country’s undisputed number one finance superapp with the most extensive cashless digital ecosystem. GCash continues to drive financial inclusion among Filipinos, with over ₱118B loans disbursed life to date (LTD), 9.5M GSave registered users, 5.8M GFund users, and ₱16.3M insurance policies sold LTD. As online threats remain pervasive, GCash prioritizes its security capabilities to protect its customers. This includes the implementation of advanced security measures such as GCash Double Safe, expanded customer education initiatives, and strategic collaborations with government agencies to actively combat cybercrimes. 

On healthcare, we improved the KonsultaMD SuperApp to offer comprehensive services from 24/7 consultations to at-home diagnostics, KonsultaMD has become essential to over 2.5 million Filipinos' lives. Our expansive network of over 1,500 healthcare providers across more than 50 specializations and more than 2,000 pharmacy deals, combined with our ability to serve using various local dialects, allow us to provide personalized and accessible care for everyone. With daily average transactions increasing 17-fold compared to the pre-pandemic period, we have proven ourselves as a vital one-stop healthcare provider for Filipinos.

To seize the vast opportunities in serving hyperscalers, we established seven (7) data centers, with two currently under construction: STT Fairview, which will add 124 MW to our capacity, and STT Cavite 2 , contributing an extra 6 MW.  These efforts are part of STT GDC Philippines' strategy, positioning the country as a rising data hub in the region. Our data centers are now operating at 83% rack utilization, with a current IT capacity of 22 MW and plans to scale up to over 150 MW. 

Asticom, our tech-enabled outsourcing and shared services company, leverages on latest technologies such as Artificial Intelligence (AI) and Robotic Process Automation to provide innovative outsourcing solutions, streamlining business operations and enhancing efficiency across various sectors.

We are pushing the boundaries of what is possible in digital marketing and data services, using our vast networks and insights to drive success. Brave Connective Holdings, Inc. (BCHI) offers a comprehensive adtech and data ecosystem that empowers businesses to forge stronger connections with their customers. Adspark, currently the number two digital agency in the Philippines in terms of revenue, has managed approximately 5,000 digital campaigns. M360, our messaging venture, boasts over 700 mobile operator partners worldwide, reaching 114 million mobile users and 48 million over-the-top (OTT) users, averaging 1 billion monthly traffic. Inquiro, our data analytics platform, holds 94 million unique profiles over 600 data points, showcasing our depth in consumer insights. DeepSea, our programmatic advertising venture, contributes with 29 million mobile advertising IDs (MAIDs), further enhancing our advertising precision and reach.

Our partnership with Gogoro Philippines, aimed at offering  innovative Smartscooter® and battery-swapping systems locally, underscores our commitment to sustainable transportation solutions. This initiative not only advances our sustainability goals but also paves the way for a greener, more efficient future for urban mobility.

Kickstart's remarkable growth, with over 65 investments, includes 5 exits and 2 unicorns. By propelling these companies toward success, we contribute to economic growth and innovation, reinforcing our role in the digital sector.

Contributions to Sustainable Development

Championing Diversity, Equity, Inclusion, and Belonging (DEIB) is at the heart of our culture. Our policies and commitments reflect our dedication to building a workforce that celebrates diversity and fosters an environment of respect and understanding. Our initiatives, from gender-balanced workforce representation to inclusive facilities and DEIB training, are designed to cultivate a culture that values every individual's contribution.

Cybersecurity and information security has been equally robust, encompassing a wide range of programs and activities designed to protect our customers and employees. We have taken significant steps to block countless spam and scam messages, promote SIM registration to further secure mobile communications, and launch a MakeITSafe education and awareness campaign, all aimed at safeguarding the digital integrity of our stakeholders. Our internal trainings on data privacy and information security emphasize our commitment to adhering to the best practices and principles that protect against threats. Also, our pioneering effort through the Memorandum of Agreement with the Intellectual Property Office of the Philippines (IPOPHL) and four other leading Internet Service Providers (ISPs) in the country to establish a site-blocking mechanism against pirated sites, is a significant step towards protecting intellectual property rights and setting industry-wide standards.

In our efforts to enhance our supply chain's sustainability, we launched an internal Sustainability Academy, in partnership with the Makati Business Club, specifically for our supply chain partners, focusing particularly on empowering MSMEs with foundational Environmental, Social, and Governance (ESG) principles and practices. 

For environmental stewardship, we are proud to be recognized as the Most Sustainability-Driven Mobile Network Operator and one of Asia Pacific’s Climate Leaders, by Financial Times and Statista. We were the first publicly-listed company in the Philippines to have our Net Zero targets validated by the Science Based Targets initiative (SBTi), underscoring our commitment to a sustainable future. Currently, we operate 27 renewable energy sites, with 18% of our total electricity consumption being powered by renewable energy. Additionally, we have deployed over 12,100 green network solutions that utilize cleaner fuel with lower emissions, reaffirming our dedication to environmental responsibility and our role in the global fight against climate change.

Outlook

Our roadmap for the coming years is ambitious and reflective of our role to steer digital transformation. We are poised to further harness the power of digital technology, expanding our reach and enhancing our services to meet and exceed the evolving needs of our customers. 

In our quest to create a more connected and digitally empowered nation, we are expanding our suite of digital services. From fintech and e-commerce to digital healthcare and education, our goal is to make essential services more accessible to all Filipinos. By breaking down barriers, we are opening up a world of opportunities for individuals and businesses alike.

Our vision for Globe is one of continued leadership to enable the Filipino throughout their digital journey. We aim to keep apace with global advancements whilst fulfilling our role in the country’s sustainable development.

Together, we are shaping a brighter, more connected, and empowered future for the Philippines.