Globe Telecom closed 2025 with solid earnings despite heavier depreciation and financing costs, underscoring how scale, data-led growth and digital finance continue to anchor profitability even as margins faced pressure.
Net income for the year slipped to P23.3 billion from P24.3 billion in 2024, reflecting elevated depreciation and interest expenses tied to sustained network investments. Stripping out one-off gains, including proceeds from the Mynt share disposal linked to MUFG’s investment and tower sale-and-leaseback transactions, normalized net income stood at P20.8 billion, down 4 percent year on year. Core net income, which excludes asset sales, foreign exchange movements and mark-to-market adjustments, eased to P20.9 billion from P21.5 billion in the previous year, pointing to mild pressure on underlying profitability.
Operational performance, however, remained resilient. Full-year EBITDA rose 1 percent to P87.6 billion, while EBITDA margin improved to 53.1 percent, exceeding company guidance and highlighting Globe’s ability to maintain healthy profitability while continuing to invest in network quality and customer experience. On a sequential basis, fourth-quarter EBITDA increased 6 percent quarter on quarter to P23.4 billion.
Globe posted a record P165.1 billion in consolidated gross service revenues in 2025, surpassing levels achieved in 2024. Fourth-quarter revenues reached an all-time high of P43.4 billion, up 5 percent quarter on quarter, supported by higher mobile data traffic, resilient broadband demand and steady enterprise activity, even as severe natural calamities disrupted operations in some regions. Data-related services accounted for 88 percent of total revenues, up from 86 percent a year earlier, reinforcing the company’s digital-first trajectory.
The Ayala Group telecom arm ended 2025 with 65.8 million mobile subscribers, up 8 percent from the prior year, while mobile data users rose 5 percent to 39.2 million. Broadband subscribers climbed to 2.1 million, driven by a 43 percent surge in fiber customers, with fiber now contributing 91 percent of home broadband revenues.
Beyond connectivity, Mynt, the operator of GCash, remained a key earnings pillar. Globe’s equity share in Mynt reached P6.1 billion in 2025, contributing around 22 percent of pre-tax income and underscoring the growing role of digital finance in Globe’s earnings mix.
