Converge ICT Solutions, Inc. (PSE: CNVRG) reported strong momentum in its Enterprise business for the first half of 2026, with segment revenues rising 15.1 percent year-on-year to more than P3.9 billion, as more private firms and government agencies move to digitize their operations. Driven by new client wins and rising demand for digital upgrades across Philippine industries, the Enterprise division served as a core growth driver, lifting the company’s total consolidated revenues to P22.4 billion, a 3.1 percent increase from the same period last year.
“The acceleration we’re seeing across our Enterprise portfolio is a clear validation of our product roadmap. Enterprise customers aren’t just adopting our technology—they’re expanding their footprint with us, making this business unit an important driver for durable, recurring growth moving forward,” said Converge chief finance officer Robert Yu.
Both small and medium enterprises and large accounts including public institutions delivered double-digit revenue gains. SME revenues climbed 15.7 percent year-on-year, supported by a growing base of business clients seeking fast and reliable fiber broadband. Revenues from large enterprise and corporate accounts rose 14.8 percent, backed by high-value service contracts, greater use of data-heavy solutions, and national digital infrastructure capabilities. Recently, the company’s Converge Global Business unit announced new partnerships with major universities and local government units to provide connectivity for their digitalization projects.
The residential segment remained the largest revenue contributor at P18.5 billion, with total subscribers reaching 3.09 million as of end-June 2026. “The true impact is showing up in the day-to-day experience of our customers—fewer friction points, faster issue resolution, and a level of service that is validated and affirmed not just by Ookla, but increasingly by the government,” noted Converge chief operations officer Benjamin Azada.
Independent assessments show Converge outperforms competitors in network quality. In the DICT Oplan Bantay Signal 2Q2026 report, the company ranked first in fixed broadband performance, recording average latency of 5 milliseconds and average download speed of 158 megabits per second, while customer complaints dropped 84 percent between January and June 2026. The firm also took home the “Best Internet,” “Fastest Internet,” and “Best Fixed Latency” recognitions from the Ookla Speedtest Awards for the first half of 2026.
Even amid challenges from higher fuel costs and inflation, Converge posted steady financial results through careful spending and cost controls. Earnings before interest, taxes, depreciation and amortization reached P13.3 billion, for an industry-leading margin of 59.1 percent, matching full-year targets. Net income after tax stood at P5.5 billion, representing a 24.4 percent net margin. Return on invested capital held steady at 14.9 percent, reflecting targeted investments in network resilience and expansion. Capital expenditures for the period totaled P5.7 billion, with the company maintaining a sound financial position: net debt stood at P15.6 billion, and gross debt to total equity stood at 0.4 times.
