Globe Telecom Inc. has revised its capital expenditure guidance for the year to P76 billion from P70 billion to finance network expansion that will further improve its broadband services.
“We estimate that P6 billion will get our cash capex this year, so that our guidance capex moved from P70 billion to P76 billion for 2021” said Rizza Maniego-Eala, Globe chief finance officer and chief risk officer.
In a briefing, Eala said Globe ‘s earnings before interest, taxes, depreciation and amortization guidance remains at 50 percent and service revenues at a low to single level this year.
Globe invested a record level capex of P43.3 billion in the first half of 2021 , beating last year’s spending by 107 percent.
Globe reported it has outperformed competition in mobile internet traffic which grew 59 percent to 1,761 petabytes in the first half of 2021.
