Converge Information and Communications Technology Solutions, Inc. (Converge ICT) is projecting sustained double-digit revenue growth in 2025, fueled by its residential and enterprise segments, as it continues to capitalize on the growing demand for fiber-optic services in the Philippines.
Chief financial officer Robert Leo A. Yu revealed in a virtual briefing that the company is targeting a 14 to 16 percent increase in consolidated revenues this year. This follows a strong performance in 2024, with Converge ICT reporting a 14.8 percent year-over-year growth, reaching P40.6 billion in total revenue. This solid performance further cements its position as the fastest-growing fixed broadband service provider in the country.
The residential segment saw impressive growth, with revenues increasing to P34.4 billion, reflecting a 13.7 percent rise from the previous year. The company’s FiberX service saw a significant boost, adding 196,419 new subscribers, a 57.9 percent increase from 2023. Meanwhile, Converge ICT’s newer offerings, BIDA Fiber and Surf2Sawa, attracted 90,458 and 175,795 subscribers respectively in their first full year on the market.
The enterprise segment also performed well, with a 21.9 percent increase in revenue, reaching P6.2 billion. Small and medium-sized enterprises (SMEs) led the charge with a 30.9 percent revenue growth, reflecting strong demand across all subsegments.
Converge ended 2024 with a total of 2.56 million residential subscribers, comprising over 2.27 million postpaid subscribers and nearly 291,000 prepaid customers.
To sustain its growth trajectory, Converge ICT has earmarked P20 billion to P25 billion in capital expenditures for 2025, aimed at expanding its infrastructure through investments in subsea cables, data centers, and additional port deployments. These investments are designed to increase the company’s network coverage and capacity, ensuring it remains at the forefront of the nation’s digital transformation.
While Converge’s capital expenditure in 2024 totaled P9.3 billion—slightly below expectations due to delays in some turnkey project completions—the company remains confident in its future growth prospects, backed by its ongoing expansion and technological advancements.
