GLOBE’S INFRA ROLLOUT TO SET NEW RECORD THIS YEAR

Globe Telecom is on track with network rollout and targets for the year as it ramps up its infrastructure in a bid to expand coverage area and serve more consumers.

In a statement on Friday, the Ayala-led telecommunications player said it had installed 572 new cell towers and upgraded around 6,800 mobile sites to 4G LTE in the first half.

Globe eyes to have about 1,700 new cell sites by the end of the year, exceeding last year’s 1,407 builds.

“Our network rollout momentum continues and it is faster. We accomplished about 70 percent more than in the same period last year,” said Joel Agustin, head of network planUnited and engineering at Globe.

Agustin said they were “very positive that we can set a new build record this 2022.”

Globe has spent more than half or P50.5 billion of its P89-billion programmed capital expenditure for the year as of end-June.

“All our efforts are not only aimed to elevate the standard of connectivity within the Philippines, but equally important, this continued drive will deliver a consistent level of quality,” Augustin added.

In the first half, its net income attributable to equity holders of the parent firm surged by 49 percent to P19.65 billion from last year’s P13.04 billion, supported by consolprove idated service revenue which grew by 4 percent to P78.9 billion.

The Ayala-led telco player recently announced the sale of its over 7,000 towers, proceeds of which are allocated for capital expenditures and debt servicing requirements.

It has signed two agreements for 5,709 towers amounting to a total of P71 billion this month. It is in “advanced discussion” with a tower company for the sale of the remaining 1,350 towers.

Fitch Group unit CreditSights pegged the sale for the remaining towers at P17 billion, based on the P12-million-perunit average price of the sold towers.