ERNEST L. CU

President and CEO


The year 2021 tested our resilience and tenacity as a business. Two years into the pandemic, COVID-19 persisted with new variants more transmissible than its original strain. This hampered efforts to full recovery as the economy was disrupted by granular lockdowns, soaring inflation, rising debt, security challenges and other uncertainties.


Behind these crises, Globe and the Globe Group banked on our core strengths:  innovation using digital technology, customer centricity and a strong culture of care in the way we do business. These made it possible for us in Globe to rise above adversity, allowing us to pursue our vision of enabling the Filipino digital life towards a better Philippines.


Despite the protracted journey towards economic recovery due to the continuing pandemic, your company still emerged with a solid financial performance. Consolidated service revenues were at a record-high P151.5 billion for the year, or 4% higher compared to 2020. The revenue performance was driven by growth in data services – spanning mobile, broadband and corporate data. Net Income After Tax exceeded last year’s by 27%, while our consolidated EBITDA stood at ₱74.9 billion and EBITDA margin remained healthy at 49%. 



Deliver the Best Possible Customer Experience


In response to the COVID-19 lockdown, increased reliance on digital technologies drove demand for our broadband business. We provided faster and better internet connectivity supported by our improved network infrastructure. With an all-time high capital spending of ₱92.8 billion, your company built 1,407 new cell sites in 2021 or 8% more than the previous year. We upgraded more than 22,000 sites to 4G/LTE, which resulted in an improved service consistency score of 79.45 from January to March 2022 compared to 70.43 in the same period last year.  This earned Globe a citation from Ookla® as the Philippines’ Most Consistent Mobile Network.  


As a result, our LTE download speed climbed to 23.7Mbps and LTE congestion rates improved to 5.1% in 2021 from 6.8% in 2020. Wired broadband rollout was also accelerated, deploying around 1.45 million high-speed broadband lines to cater to the growing demand for fast and reliable home connectivity solutions. This exceeded the original target of 1 million and even the revised target of 1.4 million. We also expanded our 5G footprint to cover more than 2,000 areas nationwide. Globe 5G outdoor service now covers 95% of NCR and 84% of key cities in Visayas and Mindanao. 



Serve the New Customer as One Globe Group


Individuals and businesses alike faced significant challenges due to the extended impact of COVID-19 as they embraced remote working and online transactions as the new normal. To cater to the growing demands of the Filipino digital life and data connectivity, your company expanded its ecosystem of technologies to provide life-enabling solutions covering sectors like education, healthcare, entertainment, adtech, e-commerce, manpower, IT services, and venture capital. 


Mobile wallet GCash continues to expand its reach and enhance its relevance, with the app being ubiquitous for Filipino consumers and entrepreneurs. GCash has become synonymous with convenient payments. Built on such relevance, Mynt achieved double unicorn status through a USD $300 million fresh equity deal from lead investors Warburg Pincus, Insight Partners and Bow Wave that boosted its valuation to over USD $2 billion. 


KonsultaMD, meanwhile, deepened its relevance,  emerging as an indispensable digital tool for healthcare amid continued surges in COVID-19 infections. We have effectively democratized 24/7 access to healthcare through licensed doctors via our teleconsult service available in a mobile app, the web, and a hotline. 


ECPay also quickly rose as a pervasive over-the-counter payment point for telco/e-commerce services, while rapidly increasing accessibility to prepaid load and rewards redemptions all the way to the sari-sari store level. 


PureGo forged robustly into the e-commerce space as more Filipinos latched on to this mode of shopping for essentials amid pandemic restrictions. Raising the bar on relevance and convenience, more than 50% of PureGo’s first-timers used the service again, drawn by service reliability as well as a wider assortment of products at competitive prices against other online players. 


AdSpark matured into a full-service digital media company in 2021, innovating extraordinary digital media campaigns for a growing client portfolio, products and services. 


Asticom broadened its services beyond being a general provider of manpower. It now has a more diverse business portfolio focusing on specialized IT-BPO services, engineering and construction, and on-demand corporate logistics. 


917Ventures holds and incubates our Globe Group altogether, and in 2021 did remarkable work in seeding and growing our next priority verticals. Our team moved aggressively and deliberately to Ideate–Launch–Accelerate–Scale ideas into corporate assets of tremendous potential. 


Kickstart Ventures continues to harness entrepreneurial momentum from early-stage startups globally, contributing to uplift our economy, leveraging investments in technology to shape a more efficient, productive, secure, and equitable future.



Enable the Resurgence of Business as One Globe Group


As our economy reels from the impact of the COVID-19 pandemic, micro, small and medium-sized enterprises (MSMEs) continue to feel the negative effects of localized lockdowns. To help our MSMEs, your company launched the Globe Business Upstart program that offered a built-for-MSME portfolio of digital tools and services to assist loyal MSME customers in achieving digital leadership, business enablement and exclusive partnerships. Globe also teamed up with Amazon Web Services to offer cloud-based solutions for MSMEs to keep their data on an online server, thereby enabling their employees to perform remote work. 



Drive Long-Term Impact for the Nation


As we endeavored to expand and uplift our business despite the pandemic pinch, your company never wavered on Alagang Globe. As of end-2021, 99% of the employee population has already been vaccinated and we continue to maintain our own GlobeLab to provide our employees easy access to RT-PCR testing facilities and hard-to-find medicines. For our employees who were infected by the COVID-19 virus, we provided home care packages, aside from KonsultaMD’s daily monitoring. We also invested in mental health and wellness by providing learning webinars, including access to psychological support for our recovering and grieving families. Throughout 2021, despite being unable to have enough face-to-face interactions across our teams, we have been able to hold on to the culture of malasakit and compassion in Globe. 


We also made sure to care for our fellow Filipinos. Typhoon Odette, which caused catastrophic damage in parts of the country, demonstrated the deep malasakit of our people, with our engineers going out into the field to restore our facilities, leaving their own families and, for some of those based in Visayas and Mindanao, their damaged homes at the height of the Christmas season.


Equally important, we looked after over 11,000 frontliners across all our contact centers and broadband installers/technicians, including Network Site Acquisition agents. Despite the lockdowns and new waves of infection, many of them braved the virus and went out in the field, our stores and other facilities.  As they continued to serve our customers, we supported them through more frequent check-ins, monitoring their welfare and sentiments via our Voice of Frontliners measure, while enabling them through year-round virtual training and engagement programs aptly called #AlagangGlobeFrontline.


Throughout 2021, Globe stood strong to serve and protect both the cyber world and the physical environment within our sphere of influence. In a determined advocacy for Internet safety, your company successfully blocked 1.15 billion scam and spam messages, ~7k mobile numbers linked to scammers, and ~2k unofficial social media accounts and phishing sites last year. Aiming to save our youth from sexual predators and abusers, your company compiled and blocked sites that were identified by law enforcement agencies, endorsed by the National Telecommunications Commission (NTC) for blocking, and marked by Globe’s Security Operations Center intelligence. So far, almost 11,000 websites have been blocked as a means to combat online child pornography.


Steadfast in its commitment to climate action, Globe is the first Philippine publicly-listed company to commit to set science-based targets aligned with limiting global warming to 1.5 degree celsius, which aims to achieve net zero GHG emissions by 2050. This is in line with your company’s support to the #RacetoZero global campaign spearheaded by the United Nations Framework Convention on Climate Change (UNFCCC) and COP26 Presidency and backed by the GSMA, the international mobile industry body.


Your company continues to invest in clean energy and as its contribution to the country’s participation in the Paris Agreement to reduce carbon emissions by 75% in 2030. Apart from adopting the latest green technologies and solutions for our infrastructure, it already has 13 key facilities running on renewable energy through Power Purchase Agreements (PPA), and more sites will be added in the coming years. Moreover, it is by purchasing renewable energy from Retail Electricity Suppliers (RES) that we encourage more investments towards clean energy.


In the same spirit to preserve our environment, we recently launched our new Eco-SIM card made from 100% recycled materials using refrigerator interiors, the first-of-its-kind to be commercially launched in Asia. 


As part of its balanced scorecard, your company continues to carry sustainability in its operations as it strengthens its commitment to the United Nations Sustainable Development Goals, with focused contributions to SDG 9 Industry, Innovation and Infrastructure, and SDG 13 Climate Action


The road ahead is certainly not without challenges. However, I am convinced more than ever, that the Globe Group is very strongly positioned for the future. The gains we have achieved so far should serve as an inspiring testament to how uplifting Filipino lives can directly translate to increasing returns to our shareholders. The Globe organization - your company, with its winning culture of Service and Care, and unwavering focus on the Customer and commitment to our Vision of a better Philippines, will continue to set itself apart in the industry.

A Message from
Jaime Augusto Zobel de Ayala


The Chairman is proud of the way the Globe leadership team and the entire organization handled the many challenges in 2021. It also proved to be an extraordinary time of learning and unity for the whole organization.

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