Converge ICT Solutions Inc., one of the country’s top providers of fiber broadband and technology services, is setting its sights on continued growth in 2025, with a target of 14-16% revenue growth. This ambition is fueled by the ongoing success of its fiber prepaid services, the recovery of its Enterprise business, and major investments in data centers and subsea cable systems.
Looking back at 2024, Converge delivered strong results, with a 19% year-on-year increase in net income, totaling P10.8 billion, and a 15% increase in consolidated revenues, which reached P40.6 billion. To reward investors, the company also announced a P0.43 per share cash dividend, scheduled for payout on April 16, 2025, with a record date of April 2, 2025.
In a recent briefing, Converge CFO Robert A. Yu expressed confidence in maintaining this momentum into 2025, forecasting revenue growth of 14-16% and an EBITDA margin of 61-62%. To support these goals, the company has earmarked a CAPEX budget of P20-25 billion, which will go toward payments for the Bifrost and SEA-H2X subsea cables, two new data centers, and port expansion efforts.
One of the standout successes in 2024 was Surf2Sawa, Converge’s affordable prepaid service, alongside BIDA Fiber. Both services saw impressive growth, with 150% increases in EOP subscribers throughout the year. This success has Converge feeling optimistic about reaching its goal of 4 million subscribers by 2027.
The Enterprise business is also set for a strong year ahead, with Converge rolling out more solutions tailored to Philippine businesses, including Converge Content+, a TV service for the hospitality industry. The company is also exploring more collaborations to expand its Enterprise portfolio and help businesses leverage the power of technology.
Another exciting development is Converge’s growing data center business, which is expanding its network of digital hubs to meet increasing demand for cloud services and content delivery. Converge’s multi-edge strategy places smaller data centers closer to end-users, improving the speed and efficiency of data transmission.
The company is also making strides with its Caloocan Data Center, which will house 300 racks, and the Pampanga Data Center, which will have space for 1,200 racks—designed to meet the growing needs of both residential and enterprise customers.
In addition, Converge is set to activate its two new subsea cables, Bifrost and Southeast Asia Hong Kong-Hainan Express, which will provide not only redundancy for its network but also greater capacity to support residential and enterprise customers across the country. These cables are set to drive innovation and keep Converge at the forefront of the telecommunications sector.
With a solid foundation built on strong results in 2024, Converge is focused on continuing its growth journey in 2025. The company’s strategic investments in its fiber network, data centers, and subsea cables are all designed to ensure it remains a leader in delivering reliable, innovative connectivity solutions to Filipino consumers and businesses.
