Globe Telecom Inc. said net income in 2015 jumped 23 percent from a year ago, bolstered by record revenues and one-time gains.
The Ayala-led telco said net income hit P16.5 billion last year, up from P13.4 billion it booked in 2014.
The growth in profit was supported by one-time gains coming from the sale of a 51-percent equity stake in Yondu Inc. and the acquisition of a 98.6-percent stake in Bayan Telecommunications Inc.
Globe’s core net income, which excludes the impact of non-recurring charges, including one-time gains and accelerated depreciation charges, foreign exchange and mark-to-market charges, also grew 4 percent to P15.1 billion from P14.5 billion in 2014.
Excluding Bayan’s results, Globe’s net income and core net income jumped 22 percent and 5 percent, respectively from 2014, the company said.
Globe said it recorded consolidated service revenues of P113.7 billion last year, or 15 percent higher than the previous record of P99 billion in 2014.
“We made history again in 2015 as Globe delivered a banner year, closing 2015 with record revenues, Ebitda [earnings before income, tax, depreciation and amortization] and net income. We have proven year after year our strong commitment to create and deliver value for our customers and shareholders. Our latest achievements continue to motivate us to be more efficient, focused and ready to take on new challenges in the years ahead,” said Globe president and chief executive Ernest Cu.
“As we foresee an increasingly challenging competitive landscape moving forward, we will continue to strengthen our leadership in the digital space, gearing all our efforts toward uplifting the state of Internet services in the country and fortifying the Globe brand as a whole to be the customer’s first choice for all their data needs,” Cu said.
Globe’s mobile revenues grew 9 percent to P85.1 billion in 2015 from P78.1 billion reported a year ago, driven by strong revenues across all mobile brands.
Globe’s mobile subscriber base reached 52.9 million as of end-2015, up by 20 percent from 44 million subscribers reported in 2014.
Mobile data service revenues surged 55 percent in 2015 to P22.1 billion in 2015 from P14.3 billion in 2014 while broadband business, which now includes Bayan, also sustained its growth momentum, increasing both in revenues and subscriber base by 38 percent and 55 percent, respectively.
Total broadband service revenues reached P17.5 billion in 2015, with total subscriber base now at 4.3 million.
Globe’s fixed-line data business improved 40 percent to P7.7 billion in 2015 from P5.5 billion posted in 2014.
Globe spent around P32.1 billion in capital expenditures last year to support the growing subscriber base and rising demand for data.