Converge announced strong financial and operational results for the first half of 2025, driven by double-digit revenue growth and strategic initiatives to transform the company into a technology-driven enterprise.
Financial Highlights: Double-Digit Growth and Improved Profitability
Converge reported consolidated revenues of P21.8 billion in the first half of 2025, marking an 11.6% increase from P19.5 billion in the same period last year. This growth was fueled by robust performance across both its residential and enterprise segments.
- Residential Business: Revenue grew by 10.4% to P18.4 billion, with the company ending June 2025 with nearly 2.82 million residential subscribers, a number comprised of 2.39 million postpaid and 431,761 prepaid subscribers. The continuous demand for its core products—FiberX, BIDA Fiber, and Surf2Sawa—drove strong gross additions.
- Enterprise Business: The enterprise segment saw an 18.3% year-on-year revenue increase to P3.4 billion. This was led by the wholesale subsegment, which grew by 41.3% due to an expanded customer base.
The company’s disciplined expense control led to improved profitability. EBITDA grew by 13.1% to P13.5 billion, pushing the EBITDA margin to 61.8%. Net income after tax also increased by 12.4% to P5.9 billion.
Strategic Transformation: New Brand Identity, Leadership, and Product Innovation
Converge officially launched a refreshed corporate identity, signaling its evolution from a traditional telecommunications provider to a technology-driven enterprise (“techco”). The new logo, featuring three upward-flowing strands, symbolizes the company’s core pillars: connectivity, intelligence, and experience.
As part of this transformation, Converge announced key leadership changes:
- Benjamin B. Azada was appointed as the new Chief Operations Officer (COO).
- Atty. Laurice Esteban-Tuason was named Corporate Sustainability Officer.
- Christine Renee Blabagno was appointed Chief Risk Officer.
- Mr. Park Weongi, former CEO of NAVER Cloud, was elected to the Board of Directors, bringing extensive global experience in cloud and digital infrastructure.
Converge President and Co-Founder Maria Grace Uy stated, “We’re at an inflection point in our journey — from simply connecting people through fiber broadband to delivering digital-first, value-added solutions. Our transformation into a full-fledged techco is well underway, and this refreshed identity captures that momentum.”
The company also introduced Super FiberX, its next-generation connectivity solution that features WiFi-6 technology and bundled access to SkyTV. This product, along with its Netflix bundles, drove a majority of the second-quarter FiberX gross additions, reflecting strong consumer demand for integrated entertainment and connectivity solutions.
Industry Recognition: Ookla Awards and Governance Honors
For the third consecutive year, Converge swept all four major categories at the Ookla® Speedtest Awards™ for the first half of 2025, solidifying its position as the country’s most consistent and high-performing fixed network. The accolades include:
- Fastest Fixed Network
- Best Video Experience
- Top Internet Provider for Gaming
- Best Fixed Network
In addition to these technical achievements, Converge was recognized for its strong corporate governance, being named among the ASEAN Top 50 and the Top 5 Philippine publicly listed companies at the ASEAN Corporate Governance Awards 2025. The company was also included in the Forbes Asia 200 Best Under A Billion list for 2025, highlighting its resilience and disciplined growth strategy.
Commitment to Sustainability and Revised Guidance
As a signatory of the UN Global Compact and the Women’s Empowerment Principles (WEPs), Converge reaffirmed its commitment to responsible business practices, gender equality, and inclusive growth. The company’s FY2024 Communication on Progress highlighted strengthened governance, key policy enhancements, and programs aimed at employee development and digital inclusion.
While gross additions remain strong, Converge has revised its full-year 2025 guidance due to sustained monthly churn levels and a delay in launching select enterprise solutions. The revised guidance is as follows:
- Revenue Growth: 10%–12%
- EBITDA Margin: 59%–60%
- ROIC: 15.5%-16.5%
Converge remains committed to addressing these challenges to sustain long-term growth and continue its strategic transformation.
Forward-Looking Statements: This press release may contain forward-looking statements. Actual results may differ materially from those expressed or implied due to significant risks, uncertainties, and assumptions. Investors should not place undue reliance on these statements.
