GLOBE Telecom, Inc. has set its capital expenditure (capex) steering for 2022 at P89 billion, a 17% improve from the P76 billion the corporate had set for 2021.

The corporate’s capex steering for 2022, nonetheless, is decrease than the P92.8 billion it spent final yr.

“For 2022, the corporate is committing capex of P89 billion to proceed its aggressive community growth,” the corporate stated in a disclosure to the inventory change on Wednesday.

Globe’s growth plans embrace the development of recent cell websites, improve of current websites to 4G (fourth technology)/LTE (long-term evolution), accelerated rollout of 5G connectivity, and the speedy “fiberization” of properties nationwide.

“Whole capex for 2021 represented 61% of gross service revenues and 124% of EBITDA (earnings earlier than curiosity, tax, depreciation and amortization),” the corporate stated.

“About 86% of the capex went to data-related necessities with a purpose to serve the rising calls for of Filipinos customers who entry the web to hold on with their each day actions, keep enterprise operations and ship crucial companies,” it added.

Globe noticed its core web earnings for 2021 develop by 9% to P21.2 billion from P19.5 billion in 2020.

Its full-year consolidated service revenues grew by 4% to P151.5 billion from the P146.4 billion reported in 2020.

The corporate attributed its progress to the “sustained excellent efficiency of residence broadband in addition to company knowledge.”

Damaged down, cellular income for the yr barely elevated to P104.4 billion from P103.7 billion in 2020, whereas residence broadband income grew by 10% to P29.4 billion from P26.8 billion beforehand.

Company knowledge income elevated by 12% to P14.2 billion in 2021 from P12.6 billion in 2020, whereas income from fixed-line voice fell by 13% to P2.3 billion from P2.6 billion a yr earlier.

“The numerous progress in knowledge income, which accounts for 80% of complete service revenues primarily fueled this yr’s efficiency, given the rising demand for high-speed, dependable and inexpensive web connectivity for work, enterprise, schooling, leisure, telehealth and different on-line companies,” the corporate stated.

Globe additionally stated its complete working bills and subsidy as of end-December 2021 amounted to P76.6 billion from P72.9 billion in 2020, or up by 5% “due primarily to the will increase coming from a number of expense line objects apart from subsidy, lease and provisions.”

The corporate ended 2021 with complete prices and bills of P117.7 billion, or 9% greater than P108.3 billion in 2020.

“Larger bills for the yr have been primarily to help administration methods, enterprise, and data-network growth and in addition the restoration efforts as a result of Storm Odette’s onslaught,” it stated.

The corporate additionally stated it closed 2021 with a complete subscriber base of 86.8 million, up 13% from 2020.

“Globe constructed 1,407 new cell websites nationwide in 2021 together with each 4G LTE and 5G, upgraded over 22,300 cellular websites, and put in over 2,000 5G outside websites and in-building options as of end-December of 2021. Whereas on the fastened line entrance, Globe put in over 1.4 million fiber-to-the-home strains.”

Globe Telecom shares closed 0.72% decrease at P3,032 apiece on Wednesday. — Arjay L. Balinbin

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