Converge ICT Solutions said it posted double-digit gains in the first half of 2025, buoyed by sustained demand in both residential and enterprise broadband services, as it accelerated its transition from a telecommunications firm to a technology-driven enterprise.
Consolidated revenues climbed 11.6% year-on-year to ₱21.8 billion from ₱19.5 billion, while net income rose 12.4% to ₱5.9 billion. Earnings before interest, taxes, depreciation, and amortization (Ebitda) grew 13.1% to ₱13.5 billion, with margins improving to 61.8%.
The company’s residential segment booked ₱18.4 billion in revenues, up 10.4%, ending June with 2.82 million subscribers — 2.39 million postpaid and 432,000 prepaid — driven by continued uptake of its FiberX, BIDA Fiber, and Surf2Sawa offerings.
The enterprise segment surged 18.3% to ₱3.4 billion, led by a 41.3% jump in wholesale revenues.
Converge maintained an industry-leading 17.7% return on invested capital and a healthy balance sheet, with net debt-to-equity at 0.2x and debt service coverage ratio at 3.3x. Capital expenditures reached ₱4.2 billion in the first half.
The period also marked a strategic milestone as Converge rolled out a refreshed corporate identity, featuring a new logo symbolizing its core pillars of connectivity, intelligence, and experience.
The move signals its shift from a pure connectivity provider to a “techco” offering broadband-enabled solutions, enterprise cloud, AI, and digital platform services.
“Our transformation into a full-fledged techco is well underway,” said Converge president and co-founder Maria Grace Uy. “This refreshed identity represents our charge to go from fiber to the future — a future where technology and humanity converge.”
Leadership changes accompanied the rebrand. Benjamin B. Azada was appointed chief operations officer following the retirement of Jesus “Boboy” Romero. Laurice Esteban-Tuason assumed the role of corporate sustainability officer, while Christine Renee Blabagno became chief risk officer. Former Naver Cloud CEO Park Weongi also joined the board.
Converge also launched Super FiberX, a next-generation service featuring WiFi-6, SkyTV access, and integration with its Converge Xperience Hub.
The offering, built on its 800,000-kilometer fiber network, was a key driver of FiberX gross additions in Q2, alongside bundled packages with Netflix.
Azada highlighted that average speeds have grown more than 11-fold to 400 Mbps in recent years, while the cost per Mbps has dropped by over 90%, from ₱45 to ₱4.
Converge also swept all four major categories at the Ookla Speedtest Awards for the first half of 2025, marking its third straight year of dominance.
