Foundever, a global leader in the customer experience (CX) industry, today announced it has launched its third location in Cebu and the first Foundever™ hub in the Philippines after the global rebrand. This opening further reinforces its continuous entrepreneurial journey of growth and transformation, first with the acquisition of Sitel in 2015 by Groupe Acticall and most recently with the acquisition of Sykes Enterprises, Inc. in 2021.

The global rebranding to Foundever underscores the company’s relentless commitment to innovation, dynamism, and top-notch customer experience delivery. It celebrates the expertise on which the company was founded, while maintaining the same level of innovation and agility with a strong human-centric element to its solutions.

"’Found’ represents our constant curiosity to innovate and create grounded solutions, and ‘ever’ signals our agility and drive to continuously adapt to the changing needs of the market and our clients," noted Cecile May-Moreno Venancio, Senior Marketing Director for APAC, Foundever™. “We know it’s a complex, fast-moving and changing world and this is especially true in our world of customer experience. So, at Foundever™, we recognize that it is our job to make CX simple and to deliver great experiences for customers by building a better experience for our people.”

Foundever has successfully grown from a small startup to become a global company that delivers over 9 million customer conversations and insights each day to help clients navigate their digital transformation journey. By combining scalability, award-winning culture, and innovative solutions, the company is able to stay ahead in the CX game for the world's leading brands. 

Since acquiring SYKES in 2021, Foundever has established its position as one of the top customer experience providers in the world. In the Philippines, this acquisition created a mutual employment advantage between the two companies and saw the number of Foundever associates across the country grow to over 40,000.

"Our team remains committed to learning, designing, and integrating solutions that meet the specific needs of clients. This includes taking time to know individual cultures, values, and operational models to address unique business challenges," Venancio concluded.

For more information, visit the company’s brand-new website at www.foundever.com.

About Foundever

Foundever is a global leader in the customer experience (CX) industry. With 170,000 associates across the globe, we’re the team behind the best experiences for +750 of the world’s leading and digital-first brands. Our innovative CX solutions, technology and expertise are designed to support operational needs for our clients and deliver a seamless experience to customers in the moments that matter.

Supporting +9 million customer conversations every day in +60 languages across 45 countries, Foundever™ combines global strength and scale with the agile, entrepreneurial approach of our founder-led culture, enabling companies of all sizes and industries to transform their CX.

Get to know us at www.foundever.com and connect with us on LinkedIn, Twitter, Facebook and Instagram.

March 2023, Manila Philippines - In a groundbreaking deal, Concentrix, a global leader in customer experience (CX) solutions and technology and the country’s largest private employer, confirms its plan to further expand in 2023 with a big move to Cebu Exchange.

This strategic partnership with ARTHALAND will see Concentrix bolster its leading local presence by adding Cebu Exchange, a PEZA-accredited office development on track to be the largest net zero carbon certified building in the Philippines. The expansion is expected to bring Concentrix’ site total in the country to 51, as the company remains committed to add more jobs as well as invest in superior and sustainable facilities for its growing staff.

Cebu City has become a popular location for businesses due to its highly skilled talent pool, superior regional accessibility, and more cost-effective alternative to Manila. In 2020, the city was named the 12TH most attractive BPO destination by the Tholons Global Innovation Index.

“Cebu has always been an exciting market for the office sector”, said Dom Fredrick Andaya, Senior Director of Office Services – Tenant Representation at Colliers. “Sixty percent all provincial office transactions that we recorded in 2022 happened in Cebu, and a bulk of these were office lease transactions cornered by IT-BPM firms. Aside from the abundance of highly skilled workers, the availability of higher-quality buildings with sustainability features provides extra incentive for occupiers to locate and expand in the city. We are very happy and thankful to have facilitated this landmark partnership between Concentrix and Arthaland.”

As part of the deal, Concentrix will take up a total gross leasable area of 16,686.73 sq.m spanning multiple floors of operations in Cebu Exchange later this year.  It is the largest commercial transaction and office take-up in Southern Philippines among comparable transactions of the same volume and requirements. 

The partnership also underscores Concentrix's strategic  Environmental, Social and Governance focus and Doing Right DNA, aligning  with ARTHALAND’s sustainability development goals, where the welfare of occupants is of  utmost importance.   The wellness features of Cebu Exchange is a testament to Concentrix being fanatical in caring for staff.

Cebu Exchange's reputation for sustainability, an important factor in Concentrix’ choice of facility, is also reinforced by ARTHALAND's sustainability projects outside its developments. ARTHALAND has an ongoing sustainable public school rehabilitation program in Cebu Island, which includes fixing roofs and adding solar panels, repainting public schools with low-VOC paints, providing low-energy LED lighting, and rehabilitation of toilet fixtures.

"At Concentrix, we design, build and run the future of customer experience (CX). And as we continue to grow, we also reimagine the future of workspace – what kind of facility is needed by our teams today and those joining our organization tomorrow. We are thrilled to partner with Cebu Exchange in giving our    teams the best sustainable and wellness-centered office space available in the market. Cebu Exchange’s energy-optimized facility not only supports our environment conservation goal, but also provides our people with flexible spaces to be creative and social.   It is critically important for us to prioritize the health, safety, and well-being of our staff while also being responsible for the health of our planet. As an industry leader, we proudly embrace the workspace of the future, today,” said Amit Jagga, SVP and Country Leader of Concentrix Philippines. 

"We are delighted to welcome Concentrix to the Cebu Exchange. The combination of Concentrix's expertise in customer engagement and business performance, and Cebu Exchange's commitment to sustainability and wellness, is a powerful collaboration that will bring benefits to all stakeholders. We look forward to a long and prosperous partnership.” said Oliver L. Chan, Senior Vice President of ARTHALAND.

Cebu Exchange has been pre-certified LEED Gold from the U.S. Green Building Council, achieved the highest 5-Star rating for its design from the Philippine Green Building Council, and the WELL Health-Safety Rating 2022 for Facility Operations and Management through the International WELL Building Institute. It is also registered and on track to receive (?) EDGE certification by the International Finance Corporation. 

Through the Net Zero Carbon Buildings Commitment of the World Green Building

Council, ARTHALAND has pledged to decarbonize 100% of its portfolio by 2030. ARTHALAND is the first real estate developer in Asia to do so and the first signatory from the Philippines. For more information, you may visit Cebu Exchange along Salinas Drive (in front of Cebu I.T. Park), Lahug, Cebu City, Philippines, email ask@arthaland.com, or visit www.arthaland.com.

Safe Harbor  Statement. This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, statements regarding the future growth and expansion of Concentrix, and statements that include words such as believe, expect, may, will, provide, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to general economic conditions; competitive conditions in the company’s industry; the demand for CX solutions and technology; variability in demand by the company’s clients or the early termination of the company’s client contracts; the level of business activity of the Company’s clients and the market acceptance and performance of their products and services; and other factors contained in the company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2022 filed with the Securities and Exchange Commission and subsequent SEC filings. The Company does not undertake a duty to update forward-looking statements, which speak only as of the date on which they are made.

About Concentrix

Concentrix (Nasdaq: CNXC) is a leading global provider of customer experience (CX) solutions and technology. We Reimagine everything CX to improve business performance for some of the world’s best brands, and the ones that are changing the world as we know it. Every day, we Design, Build and Run CX for over 130 Fortune Global 500 and 125 new economy clients. Whether it’s a specific solution or the whole end-to-end journey, we’ve got it covered. We’re the strategic thinkers who design brand-defining experiences. The tech geeks who build smarter solutions. And the operational experts who run it all and make it work seamlessly. Across 40 countries and 6 continents, we provide services across key industry verticals: technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Location: Virtually Everywhere. Visit www.concentrix.com to learn more.

Copyright 2023 Concentrix Corporation. All rights reserved. Concentrix, the Concentrix logo, and all other Concentrix company, product and services names and slogans are trademarks or registered trademarks of Concentrix Corporation and its subsidiaries. Concentrix and the Concentrix logo Reg. U.S. Pat. & Tm. Off. and applicable non-U.S. jurisdictions. Other names and marks are the property of their respective owners.

“Green” funds give users chance to invest in recovering market

Leading Philippine fintech company GCash and ATR Asset Management (ATRAM) are offering sustainable investment products under the GFunds portfolio, to give the e-wallet’s users an opportunity to maximize the recovering market while investing in companies that promote “green” practices and industries.

“In line with GCash’s sustainability goals, we want to provide a platform to democratize access to funds that promote green practices. Thanks to our partnership with ATRAM, we’re also able to allow our users to benefit from the market that has been recovering from a slump caused by worries over inflation and high interest rates,” said GCash president and CEO Martha Sazon.

GCash and ATRAM have already been solid partners in offering users several funds that can help them grow their hard-earned money. Through sustainable investment products under GFunds, customers can support companies that promote positive environmental or social change, invest in clean energy, transport, and infrastructure, as well as those who provide access to healthcare.

“We are fully committed to our partnership with GCash and are very excited to expand our global and local fund offerings in GFunds. This includes one of our flagship Philippine equity funds, the ATRAM Philippine Sustainable and Development and Growth Fund. This fund invests in Philippine companies that are committed to improving and integrating sustainability in their workforce, products, and practices,” said Phillip Hagedorn, President of ATRAM Trust Corporation and CEO of Asset and Wealth Management.

Hagedorn also shared that since the fund’s inception in Feb 17, 2021, it has outperformed the PSEi by 9.57% as of December 31, 2022.

“Sustainable investing is the way to make lives better for all. We are confident that companies that embrace these sustainable practices will be the future winners,” Hagedorn noted.

As seen in recent news headlines about floods and extreme weather conditions, the Philippines has been among the most vulnerable to the negative impact of climate change.

Based on GCash’s market research, investors and non-investors alike are shifting their focus to sustainable investments, with 85% of investors wanting to place their funds in investments that make a positive impact.

GCash has been partnering with trusted institutions like the ATRAM group in giving its customers more opportunities to grow their hard-earned money and reach their financial goals.

Through GFunds, ATRAM is offering access to various sustainable investment products namely the Global Health Care Feeder Fund, Philippine Sustainable Development and Growth Fund, Global Equity Opportunity Feeder Fund, and the Global Infra Equity Feeder Fund.

Protection for all that matters from one global brand

Inflation in December of last year was reported at 8.1%, nearly triple that of the same time in 2021 which was 3.1%, according to the Philippine Statistics Authority.  The economic crunch being felt across the world is a result of out-of-control fuel prices, which may never return to “normal,” as reported by a US edition of Forbes Magazine. Year after year, events and circumstances prove just how uncertain the future can be.

AXA Philippines is in Cebu! Go to https://www.axa.com.ph/contact-us to reach Cebu branches

The typhoon Odette wreaked havoc on much of the country including Cebu in January of 2022, causing an estimated P28.68 billion in damages . And that was just on the tail end of the Delta wave of the COVID-19 pandemic. The sad part is that things like these catch most Filipinos flatfooted. 

In the interest of making the process of getting protection for the things that matter more accessible for Filipinos, insurance giant AXA Philippines has completed a merger with its former general insurance subsidiary Charter Ping An Insurance Corporation (CPAIC). The latter was acquired by AXA in 2016 but non-life insurance continued to be sold under that CPAIC name. Now, all products under CPAIC will bear the AXA name. Filipinos need only remember AXA Philippines as the one name for their life and non-life insurance needs.

With this development, getting insured has become far more convenient than ever before, and if we add to that the digitalization that the pandemic has somehow expedited, Filipinos have responded. In 2021, the Philippines had the highest insurance penetration in our history  according to the Insurance Commission. The growth continued in 2022, with Filipinos spending 48.16% more on insurance than in 2021.  However, even these figures are far below the global standard, and even the already low regional standard.

A proponent of the digital transformation that has allowed many more Filipinos to protect what matters, AXA Philippines—born out of the joint venture partnership between the AXA Group from France and the local financial conglomerates Metrobank and GT Capital—has also made it more convenient for customers to take out an insurance since there is only one name to trust for all their insurance needs, be it for loved ones, their lifestyle, or their future.

Aside from life and health, far too many (even among the insured) overlook the importance of insuring their assets. Say for example, home insurance. What many don’t know is that home insurance does not apply only to physical property damage caused by accidents or calamities, but also covers injuries to people from accidents within the home.

With leisure travel back in full swing, most still don’t know that travel insurance covers not only medical needs while abroad, but also inconveniences such as flight delays or cancellations, lost luggage, and more. But in the era of the unknown, many are realizing that the unforeseen need not cause too much impact on one’s finances.

With AXA Philippines offering insurance solutions for life, health, property, cars, and travel, customers can get all the protection they need from a single global insurance leader. They can now enjoy the peace of mind that comes with being comprehensively insured by a trusted global brand of unquestionable stature, for both life and non-life insurance.

For more information on getting completely insured, visit www.axa.com.ph. You can also check https://www.axa.com.ph/contact-us to learn how to reach our Cebu branches.

GLOBE GROUP POSTS SOLID 4Q AND FULL YEAR RESULTS: 

RECORD REVENUES AT ₱158.0 BILLION, UP 4% YoY; 

RECORD EBITDAAT ₱79.1 BILLION, UP 6% YoY; 

NIAT AT ₱34.6 BILLION, UP 46% YoY; AND, 

NORMALIZED CORE NIAT AT ₱19.2 BILLION, UP 1% YoY

NON-TELCO REVENUES SUSTAIN GROWTH MOMENTUM AT 106% YOY; MOBILE BUSINESS REVENUES AT ₱107.5 BILLION, UP 3% YoY, DRIVEN BY RECORD MOBILE DATA REVENUES OF ₱83.8 BILLION, UP 8% Y OY; 

CORPORATE DATA REVENUES REACH RECORD ₱17.2 BILLION, UP 21% Y OY 

FULL YEAR 2022 CAPEX UP 9% YoY AT ₱101.4 BILLION (US$1.9 BILLION); CAPEX GUIDANCE OF US$1.3 BILLION IN 2023, 30% LOWER YoY VERSUS PEAK LEVEL, AND TARGETS US$1 BILLION BY 2024; 

FOCUS ON BRINGING THE COMPANY BACK TO MORE SUSTAINABLE FREE CASH FLOW LEVELS 

FIRST IN SEA: GLOBE PILOTS NEW LENS ANTENNA TECHNOLOGY 

FOR BETTER CUSTOMER EXPERIENCE 

GLOBE HAILED PH’S BEST MOBILE NETWORK INFRASTRUCTURE COMPANY AT GLOBAL BUSINESS OUTLOOK AWARDS 2022 

GLOBE RECEIVES PRESTIGIOUS 5 GOLDEN ARROW AWARD 

FOR CORPORATE GOVERNANCE AT THE 2022 GOLDEN ARROW AWARDS

Key Financial Highlights: Robust Topline Growth as Data Uphill Trend Continues 

The Globe Group closed the year with all-time high consolidated service revenues reaching ₱158.0 billion, up 4% year-on-year. Corporate data and mobile services, complemented by the continuous growth from non-telco services, mainly drove the topline expansion as more Filipinos adopt the digital lifestyle. Total data revenues as a percentage of total consolidated service revenues increased to 81% from 80% last year. 

The mobile business sustained its upward performance, ending the year with ₱107.5 billion compared to ₱104.4 billion reported the previous year and the second highest in company history. The revenue improvement came mostly from prepaid with greater public mobility and the resumption of face-to-face classes and work. Total mobile revenues comprised 68% of the total service revenues, with the total mobile customer base ending at 86.7 million in 2022. 

From a product perspective, mobile data revenues posted a record ₱83.8 billion for the full year of 2022 or 8% higher versus ₱77.8 billion in 2021. Mobile data traffic likewise soared to 4,658 petabytes as of end-December of 2022, surpassing the 3,733 petabytes reported in the preceding year. Mobile data now accounts for 78% of mobile revenues from 75% last year. On the other hand, mobile voice and mobile SMS revenues ended at ₱14.9 billion and ₱8.8 billion, lower year-on-year by 13% and 5%, respectively. 

With Globe’s expanded fiber footprint, postpaid fiber subscribers and revenues posted a year-on-year increase of 35% and 84%, respectively. The increasing fiber adoption among Globe customers drove the continued migration of home prepaid wifi (HPW) subscribers to fiber. However, this increase in fiber revenues was not enough to cover the decline in the legacy businesses, as the Home Broadband business further declined in the fourth quarter, ending the year at only ₱27.1 billion from ₱29.4 billion a year earlier. Similarly, total Home Broadband subscriber count now stands at 2.6 million or down by 30% year-on-year, with HPW data traffic declining to only 450 petabytes as of end-December 2022 from 808 petabytes a year ago. 

Despite the performance of the fiber business, the addressable postpaid fiber market has reached saturation levels with the wider market remaining underserved. Public clamor for reliable and more importantly, affordable internet connectivity continues. In response to this, Globe has shifted its focus to prepaid fiber, which it believes will open the industry to a new segment that could potentially drive the next phase of growth for the Home Broadband industry. One such prepaid offering is TMBayan Fiber WiFi, a public WiFi service where subscribers can connect their devices and have access to the internet. With this service, sari-sari stores, town plazas, community centers and other neighborhood convergence areas can become WiFi hotspots. As of end-January 31, 2023, Globe has fired up 652 TMBayan Fiber WiFi hubs in the National Capital Region (NCR); Luzon including Bulacan, Pampanga, Cavite, and Laguna; Visayas, specifically, Cebu and Tacloban; and Mindanao, including Davao del Norte, Davao del Sur, and Zamboanga. Globe expects to launch even more prepaid fiber products into the market by the 2nd quarter of 2023, to complement its current fiber offering. 

Corporate Data on the other hand, posted an all-time high revenue of ₱17.2 billion or 21% increase from a year ago due to the strong traction from information and communication technology (ICT) services which grew 89% year-on-year as more companies rely on business application, cloud, and data center services. 

As Globe continues to expand its beyond telco initiatives with a growing portfolio of digital companies in spaces such as fintech, healthtech, adtech, and entertainment, its non-telco revenues jumped to ₱4.2 billion in 2022 from ₱2.0 billion last year. The substantial revenue contributions from ECPay, Yondu, and Asticom led to its outstanding performance in 2022. 

Total operating expenses including subsidy stood at ₱78.9 billion for the full year of 2022, or 2% higher from a year ago. 2022 was a challenging year with several macroeconomic and external factors causing almost all expense line items to increase. These increases were partially offset by the declines from lease, services, marketing and subsidy, due to cost management initiatives employed by the company. 

Full year 2022 consolidated EBITDA stood at a record ₱79.1 billion or 6% higher from 2021 with the topline expansion of 4% offsetting the growth in operating expenses (including subsidy). This enabled overall EBITDA margin to increase to 50% from last year’s 49%, in line with full year guidance. With the EBITDA expansion and this year’s non-operating income, which fully covered for the 11% increase in depreciation charges, net income reached ₱34.6 billion or up by 46% than the ₱23.7 billion reported in 2021. 

Total non-operating income of ₱10.7 billion as of end-December of 2022 was attributed to the one-time net gain of ₱8.4 billion (post-tax) on the partial sale of Globe’s data center business reported in the first quarter of 2022 and the net gain of ₱6.2 billion (post-tax) from the sale and leaseback of its tower assets. Excluding these one-time gains, normalized net income would have been ₱20.0 billion, or up by 13% year-on-year. 

Accordingly, core net income, which excludes the impact of non-recurring charges, and foreign exchange and mark-to-market charges, ended at ₱19.2 billion for the period versus the ₱21.2 billion from the year earlier. Similarly, normalized core net income was 1% higher from last year. 

On the back of several initiatives executed by the company in 2022, the balance sheet has remained healthy and gearing comfortably within bank covenants despite all the headwinds that materialized in 2022 and debt increasing from ₱210.1 billion as of end-December 2021 to ₱233.2 billion this period. Globe’s gross debt to equity is at 1.53x while gross debt to EBITDA is at 2.35x; Net debt to equity ratio is at 1.43x while net debt to EBITDA is 2.20x; and debt service coverage ratio is at 3.82x. 

“Despite 2022 being a challenging year marked by inflationary pressures, high interest rates and weakened consumer confidence, Globe once again showed resilience. We are happy that the Globe Group closed the year with strong topline and EBITDA growth. We also achieved momentous milestones in 2022 where we closed the country’s largest-ever tower sale and leaseback agreement. In addition we successfully concluded our first stock rights of er in over two decades and raised ₱17 billion despite challenging market conditions. 

As we strive to future proof our network performance, provide better customer experience, and continue with various digital innovations to address the everyday pain points of our fellow Filipinos, we are optimistic that our beyond-telco initiatives will help enable the Philippines to become a truly digital nation.” Ernest L. Cu, President and CEO of Globe Telecom Inc., stated. 

Key Business Highlights: Capex peaked in 2022 at ₱101.4 Billion (US$1.9 Billion) or 9% YoY to improve its data infrastructure 

Globe’s capital expenditure (capex) closed the year at ₱101.4 billion or 9% above than last year, which marked the highest investment ever in its mobile and fixed network to provide world-class internet experience for Globe customers nationwide. Majority or 86% of this period’s total cash capex was allocated for data requirements to ensure that customers will have access to more relevant digital solutions and best-in-class connectivity wherever they are. Globe spent record-high levels of capex in the past several years with its aggressive builds towards a #1stWorldNetwork and now have a significant backbone for its network. Through its strict and clear governance processes, Globe has ensured proper deployment of capital over the last few years, which allows it now to focus towards capital efficiency and optimization. This will bring capex in 2023 down to $1.3 billion, a reduction of over 30% from the 2022 peak level, with the target of eventually bringing this down to $1 billion by 2024. Through this, Globe aims to bring free cash flow back to more sustainable levels moving forward, as it reaps the benefit of the opportunistic investments it made in its infrastructure the past few years. 

Moreover, Globe deployed over 1.4 million fiber-to-the-home lines in 2022 versus 1.45 million lines from a year ago to address the growing need for connectivity nationwide as the economy opens up and mobility improves. For 2023, Globe will be shifting its focus to maximizing the utilization of its fiber inventory, and ensuring delivery of the right product to the underserved prepaid fiber market. 

Additionally, Globe built 1,702 new cell sites (vs. 1,407 in 2021), upgraded around 13.6 thousand mobile sites to LTE, and installed 2,267 new 5G sites nationwide to connect more consumers and businesses with the accelerated digitalization needs brought about by the pandemic. 

Globe, a 5G pioneer in the Philippines, is helping drive the adoption of 5G technology in the country and paves the way for the next generation of digital innovation. Globe’s 5G outdoor coverage has now reached 97.2% of the National Capital Region and 90.2% of key cities in Visayas and Mindanao. The company ended 2022 with 5G connectivity in 70 cities and towns across the Philippines versus 29 in 2021, more than doubling its coverage in a year. Globe also logged over 3.9 million devices in its 5G network in December of 2022. 

Moreover, with the Company’s ongoing network investments to provide our customers with superior experience, Globe has been named the Best Mobile Network Infrastructure Company at the annual Global Business Outlook Awards 20221. This recognition follows last year's award for Most Innovative Telecom. Globe’s continuous network buildup and improvement is part of Globe’s commitment to the United Nations Sustainable Development Goals, particularly UN SDG No. 9, highlighting the roles of infrastructure and innovation as crucial drivers of economic growth and development.