Globe announces full year 2018 results

Globe spent P43.3 billion or about $821 million capital expenditures (capex) in 2018 to address the robust data traffic growth and support its increasing customer base with the ramped-up LTE rollout. About 77% of the total capex for 2018 was for data-related services, all geared to meet the customer demand for more bandwidth-intensive content. In line with the Company’s continued expansion and enhancement of its data network, full year 2019 cash capex is expected to reach P63.0 billion or approximately $1.2 billion.

Mobile subscriber base totaled 74.1 million as of end-December 2018, which will now become the new baseline given the impact of the regulatory requirement which extends prepaid load1 validity to one (1) year regardless of amount.

Total home broadband subscriber base grew 24% from last year and now stands at over 1.6 million, of which around 61% are home wireless subscribers.

On a post-PFRS basis, Globe ended the year with consolidated service

revenues of P132.9 billion. Excluding the impact of the PFRS 15 adjustments, total consolidated service revenues posted P140.2 billion, up 10% year-on-year. The continued strong revenue performance was once again driven by data-related services across all business segments. This was likewise supported by Globe’s pervasive 4G/LTE network, and the wide array of content offerings, through its partnerships with industry leaders and global content brands.

As of end-December of 2018, mobile revenues grew to P99.5 billion on a post-PFRS basis, while pre-PFRS revenues registered at P106.9 billion, up 9% from a year ago. From a product perspective, mobile data revenues reached P50.8 billion in 2018 on a post-PFRS basis, while pre-PFRS mobile data revenues were higher by 28% versus the P43.1 billion reported in 2017. Mobile data continued to be the top contributor to the Company’s mobile business, and now accounts for 51% of gross mobile service revenues from 44% a year ago. This was propelled by the sustained higher prepaid top-ups, with more consumer spending on mobile data, thus driving the mobile data traffic growth from 600 petabytes last year to 956 petabytes in 2018. Meanwhile, mobile voice and mobile SMS revenues on a post-PFRS basis as of end-December 2018, stood at P28.5 billion and P20.2 bil-