Globe not bothered by expected decline in number of subscribers

The drop in subscriber base following the SIM (subscriber identity module) card registration is not expected to impact the financial performance of Globe Telecom Inc., which is projecting a revenue growth this year on the back of increasing demand for its services.

Taking cue from the growing mobile, broadband and corporate data businesses, Globe chief finance officer, treasurer and chief risk officer Rizza Maniego-Eala, in a virtual briefing on Thursday, said they had set a mid-single digit growth guidance for the company’s top line figures.

She shrugged off the potential decline in subscribers, saying it would be “better for them” as the company would have “better visibility” on their active subscribers. Globe currently has around 88 million subscribers.

It was previously reported that mobile subscribers could go down due to the mandatory enlistment—which eliminates user anonymity—as cybercriminals are expected to be discouraged from using the SIM cards for fraudulent activities.

“In terms of top line, we don’t see any negative impact,” Maniego-Eala stressed.

More than 11.3 million Globe SIM cards have already been registered as of end-January.

Globe saw its net income grow by 46 percent to P34.6 billion last year from P23.72 billion in 2021, driven by robust mobile and corporate data segments. Service revenues were up 4 percent to a record-high P157.98 billion.

It recently approved a P25 dividend per share for the first quarter, saying it was “committed to a sustainable dividend policy in line with earnings and cash flow generation.”