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Globe to spend PHP 89 billion in 2022 to continue aggressive network rollout

Globe Telecom is investing PHP 89 billion this year to further improve its network quality and coverage in the country.
Globe to spend PHP 89 billion in 2022 to continue aggressive network rollout
File photo: Globe tower

Globe continues massive network investment

After spending an all-time high PHP 92.8 billion in capital expenditure (capex) in 2021, the telco giant is allotting multibillion-peso anew to support the rising demands of Filipino consumers.

According to Globe, the massive capex earmarked for this year will finance new cell site builds, upgrade more existing sites to 4G/LTE, accelerate the rollout of 5G connectivity, and fast-track the fiberization of Filipino homes nationwide.
A screengrab from Globe's briefing
A screengrab from Globe's briefing

In 2021, Globe said it built 1,407 new cell sites nationwide, including both 4G LTE and 5G, upgraded over 22,300 mobile sites, and installed over 2,000 5G outdoor sites and in-building solutions.

Meanwhile, on fixed-line business, the company installed over 1.4 million FTTH lines, even surpassing its revised target for the year.

As a result, our financial performance remained stable and posted healthy growth, enabling us to reinvest back into our network as customer data demands grow larger each year. We invested PHP 92.8 billion in capex for 2021 and have earmarked PHP 89 billion for 2022, to give Filipinos better, more meaningful digital experiences, Ernest L. Cu, President and CEO of Globe Telecom Inc., said.

The telco reported that the company's core net income increased by 9 percent to PHP 21.2 billion.

Its consolidated service revenues also went up by 4 percent to PHP 151.5 billion—surpassing the group's pre-pandemic level by 2 percent.

Globe showed admirable resilience in 2021 despite the pandemic and the devastation of Typhoon Odette in the country. We have emerged to be an outstanding digital services enabler by rapidly adapting our strategies to address both the challenges and the opportunities created by the global health crisis and natural disasters, Cu said.

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