Converge Information and Communications Technology Solutions, Inc. (Converge ICT) reported that its net income after tax grew by 8.4 percent from PHP8.2 billion in the January-September 2024 to PHP8.9 billion in the first nine months of 2025, enabling the company to reduce its debt.
In a disclosure to the Philippine Stock Exchange, Converge said that its EBITDA grew by double digit at 10.6 percent percent to PHP20.2 billion in the January-September period this year. Consolidated EBITDA margin improved to 61.2 percent compared to 61.0 percent from the same period last year.
This developed as the telco registered a 10.1 percent growth consolidated revenues in the first nine months of 2025 to PHP33 billion from PHP29.9 billion in the same period in 2024.
With sustained strong balance sheet and cash flows, the company’s net debt position (as measured by total financial debt less cash and cash equivalents) remained stable at PHP10.5 billion as of September 30, 2025. The growth also enabled Converge to reduce its debt to PHP25.5 billion.
The company also maintained its industry-leading Return on Invested Capital (“ROIC”) at 18.2 percent. This performance is a result of the Company’s disciplined approach in deploying capital to expand its fiber network and improve its overall services.
Total cash CAPEX (capital expenditure) as of end September 2025 amounted to PHP7.4 billion.
Based on its report, residential business grew by 9.1 percent year on year to PHP27.7 billion during the nine-month period. Converge ended September 2025 with a total of 2,926,593 residential subscribers, comprising of 2,416,561 postpaid subscribers and 510,032 prepaid subscribers.
The nine-month gross and net fiber adds show continuous demand for all three core products FiberX, BIDA Fiber, and Surf2Sawa. For the first nine months of 2025, total residential gross adds reached more than half a million. FiberX gross adds remained stable during the third quarter, and Surf2Sawa gross adds reached more than 100,000 during the same period.
Meantime, its enterprise revenue grew by 16.2 percent to PHP5.2 billion from PHP4.5 billion in the nine months of 2024. SME and Wholesale subsegments emerged with strong double digit revenue growth due to a larger customer base.
