CR02381-2015

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-A, AS AMENDED

ANNUAL REPORT PURSUANT TO SECTION 17
OF THE SECURITIES REGULATION CODE AND SECTION 141
OF THE CORPORATION CODE OF THE PHILIPPINES

1. For the fiscal year ended
Dec 31, 2014
2. SEC Identification Number
1177
3. BIR Tax Identification No.
000-768-480
4. Exact name of issuer as specified in its charter
GLOBE TELECOM INC.
5. Province, country or other jurisdiction of incorporation or organization
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
27TH FLOOR, THE GLOBE TOWER 32ND STREET CORNER 7TH AVENUE, BONIFACIO GLOBAL CITY, TAGUIG CITY Postal Code 1634
8. Issuer's telephone number, including area code
(632) 797-2000
9. Former name or former address, and former fiscal year, if changed since last report
NA
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON STOCK (P50.00 PAR VALUE) 132,733,090
VOTING PREFERRED STOCK (P5.00 PAR VALUE) 158,515,021
NON VOTING PREFERRED STOCK (P500.00 PAR VALUE) 20,000,000
11. Are any or all of registrant's securities listed on a Stock Exchange?
Yes
No
If yes, state the name of such stock exchange and the classes of securities listed therein:
PHILIPPINE STOCK EXCHANGE, COMMON STOCK, VOTING PREFERRED STOCK, NON VOTING PREFERRED STOCK
12. Check whether the issuer:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes
No
(b) has been subject to such filing requirements for the past ninety (90) days
Yes
No

13. State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by non-affiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form

P51.0 billion
APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS

14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission.

Yes
No
DOCUMENTS INCORPORATED BY REFERENCE
15. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17-A into which the document is incorporated:
(a) Any annual report to security holders
NA
(b) Any information statement filed pursuant to SRC Rule 20
20-IS FOR 2015 GLOBE ASM HELD LAST APRIL 8, 2015
(c) Any prospectus filed pursuant to SRC Rule 8.1
NA

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Globe Telecom, Inc.GLO

PSE Disclosure Form 17-1 - Annual Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the fiscal year ended Dec 31, 2014
Currency (indicate units, if applicable) IN THOUSAND PESOS
Balance Sheet
Year Ending Previous Year Ending
Dec 31, 2014 Dec 31, 2013
Current Assets 46,742,063 35,631,202
Total Assets 179,506,952 159,078,933
Current Liabilities 60,349,714 54,989,331
Total Liabilities 124,969,286 117,439,682
Retained
Earnings/(Deficit)
10,852,478 7,715,286
Stockholders' Equity 54,537,666 41,639,251
Stockholders' Equity - Parent 54,542,300 41,639,251
Book Value per Share 330.03 308.05
Income Statement
Year Ending Previous Year Ending
Dec 31, 2014 Dec 31, 2013
Operating Revenue 99,024,604 90,500,137
Other Revenue 4,211,109 4,640,848
Gross Revenue 103,235,713 95,140,985
Operating Expense 85,107,811 89,504,040
Other Expense 0 0
Gross Expense 85,107,811 89,504,040
Net Income/(Loss) Before Tax 19,382,706 6,864,773
Income Tax Expense 6,010,514 1,904,528
Net Income/(Loss) After Tax 13,372,192 4,960,245
Net Income/(Loss) Attributable to Parent Equity Holder 13,376,381 4,960,245
Earnings/(Loss) Per Share (Basic) 100.6 37.25
Earnings/(Loss) Per Share (Diluted) 100.36 37.22
Financial Ratios
Formula Fiscal Year Ended Previous Fiscal Year
Dec 31, 2014 Dec 31, 2013
Liquidity Analysis Ratios:
Current Ratio or
Working Capital Ratio
Current Assets / Current Liabilities 0.77 0.65
Quick Ratio (Current Assets - Inventory - Prepayments) / Current Liabilities 0.57 0.41
Solvency Ratio Total Assets / Total Liabilities 1.44 1.35
Financial Leverage Ratios
Debt Ratio Total Debt/Total Assets 0.7 0.44
Debt-to-Equity Ratio Total Debt/Total Stockholders' Equity 1.2 1.66
Interest Coverage Earnings Before Interest and Taxes (EBIT) / Interest Charges 13.22 12.54
Asset to Equity Ratio Total Assets / Total Stockholders' Equity 3.29 3.82
Profitability Ratios
Gross Profit Margin Sales - Cost of Goods Sold or Cost of Service / Sales 0.4 0.4
Net Profit Margin Net Profit / Sales 0.13 0.05
Return on Assets Net Income / Total Assets 0.07 0.03
Return on Equity Net Income / Total Stockholders' Equity 0.28 0.12
Price/Earnings Ratio Price Per Share / Earnings Per Common Share 17.2 44.02
Other Relevant Information

17-A, INCLUDING AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2014

Filed on behalf by:
Name Jose Mari Fajardo
Designation Director