Globe Telecom Inc., the Philippines’ largest publicly-listed telco, transforms into a digital solutions group.
In terms of market value, Globe which trades under the symbol GLO on the Philippine Stock Exchange is currently the largest telecommunications firm in the Philippines. The telco currently has a market capitalization of more than P363 billion as of the end of August trade.
Globe’s large market capitalization demonstrates investors’ faith in the company’s prospects, particularly its strategy to invest and diversify into related industries. Formerly a telecom company, the Globe Group of Companies has evolved into a variety of digital solutions companies.
Moreover, they are also using its large customer base, distribution skills, in-depth industry expertise, and synergies with strategic partners.
Globe has successfully transitioned its telecommunications company into a technology-based solutions provider with a footprint in fintech. As well as healthcare, entertainment, ad tech, e-commerce, manpower, IT services, and venture capital.
Similarly, Globe’s dividend payments are constant, owing to the company’s strong operational results and cash flows. The firm pays dividends to its stockholders equal to 60 percent to 75 percent of its preceding year’s core net income.
In the second quarter, service revenue totaled P37.6 billion, while EBITDA became P19.1 billion. Net income and Core net income reached P5.7 billion and P5.8 billion, respectively, during the April to June period.
“Over the years, Globe has shown remarkable growth as a result of its exemplary performance and sound management decisions. This, in turn, earned the trust of our stakeholders whose support allows us to continuously expand our businesses, offer quality products and services, and reach more customers,” said Ernest Cu, Globe President, and CEO.
Globe is still looking for new enterprises that are ready to expand. 917Ventures, its completely owned corporate incubator, is currently growing into new sectors to address customer pain points.
As we can see from the recent success of their GCash e-wallet service, it proves that diversification benefits at the proper time.
Globe’s digital solutions are creating a healthy digital ecosystem for the Filipino. This is to meet the communications and connectivity needs of its over 85 million mobile and broadband users,
Globe’s affiliates and subsidiaries include Kickstart Ventures, Asticom Technology, Yondu, and 917Ventures, which operates Mynt, KonsultaMD, HealthNow, and AdSpark, among others. Globe Studios, Globe Live, GOMO, and TM are some of its other well-known brands.
Source: Globe Telecom Inc.