Globe Telecom (GLO) investor relations material

Executive summary

• Gross service revenues reached PHP 42 billion in Q1 2026, up 5% year-on-year, driven by resilient data demand, mobile data, fiber broadband, and higher equity affiliate contributions, but declined sequentially from Q4 2025.

• EBITDA rose 7% year-on-year to PHP 22.2 billion, with margins at 53%, exceeding guidance but declined 5% quarter-on-quarter due to seasonality.

• Core net income increased 9% year-on-year to PHP 4.9 billion, supported by improved affiliate earnings and higher EBITDA.

• Net income after tax was PHP 5.6 billion, down 20% year-on-year due to higher non-operating charges and absence of prior year one-off gains.

• Mynt contributed 30% of pre-tax income, highlighting the growing impact of non-telco affiliates.

Financial highlights

• Data-related services contributed 91% of revenues; mobile data revenues grew 11% year-on-year to PHP 26.8 billion.

• Mobile subscriber base reached 67 million (+8% year-on-year); mobile data users at 39 million (+6%).

• Broadband revenues rose 6% year-on-year to PHP 6.2 billion, with fiber making up 93% of segment revenues.

• Corporate data revenues up 6% year-on-year to PHP 5.1 billion, led by ICT services.

• Non-telco revenues declined 36% year-on-year due to Yondu Group deconsolidation.

Outlook and guidance

• Targeting low to mid-single digit revenue growth for 2026, with performance likely at the lower end due to Middle East crisis risks and inflationary pressures.

• EBITDA margin guidance maintained at around 50%.

• CapEx to remain below $1 billion for the year, focusing on network and digital platform expansion.

• Dividend policy updated to 60–90% of prior year core net income, providing flexibility for future payouts.

• Free cash flow improvement remains a top priority.