Globe takes out P22 billion in loans | ABS-CBN
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Globe takes out P22 billion in loans
Globe takes out P22 billion in loans
ABS-CBN News
Published Aug 15, 2024 01:14 PM PHT
MANILA -- Globe Telecom has taken out loans from three banks totaling P22 billion to help finance its capital expenditure (capex) and refinance debt.
MANILA -- Globe Telecom has taken out loans from three banks totaling P22 billion to help finance its capital expenditure (capex) and refinance debt.
The telco giant borrowed P10 billion from China Bank, P5 billion from Landbank, and P7 billion from Metrobank.
The telco giant borrowed P10 billion from China Bank, P5 billion from Landbank, and P7 billion from Metrobank.
Globe invested P23.8 billion in capex in the first 6 months of the year, 25 percent lower than what it spent in the same period last year.
Globe invested P23.8 billion in capex in the first 6 months of the year, 25 percent lower than what it spent in the same period last year.
The company said this is aligned with its goals to optimize capital allocation and achieve positive free cash
flows by next year.
The company said this is aligned with its goals to optimize capital allocation and achieve positive free cash flows by next year.
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Globe said about 91 percent of this amount was used for data infrastructure to
guarantee that customers have uninterrupted access to their services.
Globe said about 91 percent of this amount was used for data infrastructure to guarantee that customers have uninterrupted access to their services.
The Ayala-led telco said its core net income hit P11.7 billion in the first half of the year, up 18 percent compared to the same period last year.
The Ayala-led telco said its core net income hit P11.7 billion in the first half of the year, up 18 percent compared to the same period last year.
Net income posted a modest year-on-year growth of 1 percent at P14.5 billion from P14.4 billion the preceding year.
Net income posted a modest year-on-year growth of 1 percent at P14.5 billion from P14.4 billion the preceding year.
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