CONVERGE ICT Solutions Inc. on Monday said net income rose 9.6 percent to P11.86 billion last year from P10.81 billion in 2024, led by strong revenue growth amid a larger customer base.
In a statement, the company said the bottom line represented a net income margin of 26.5 percent that exceeded expectations.
Consolidated revenues climbed 10.2 percent to P44.77 billion from P40.61 billion, driven by the growth of its business units.
Revenue from its residential business grew 8.4 percent to P37.32 billion with a total of 2,984,212 residential subscribers as of end-December.
Converge said consolidated residential fiber net additions for the year reached a total of 428,417.
Enterprise revenue, meanwhile, grew by 20.3 percent to P7.40 billion as the small and medium enterprises and wholesale sub-segments generated strong double-digit revenue growth, thanks to a larger customer base.
The company said total cash capital expenditures amounted to P17.70 billion last year, higher than 2024’s P9.30 billion, and were used mostly to expand its fiber network and improve overall services.
Converge said that with its trajectory and the industry’s broad underserved market, its well-engineered products were “well-positioned to capitalize on this growth potential.
The company projects to grow consolidated revenues by 8 percent to 10 percent this year.
Cash capital expenditures expectations may reach P18 to P23 billion, which will be used to fund a network expansion program of up to around 900,000 ports, most of which are targeted for new areas in the Visayas and Mindanao, and for improving network resilience and reliability.
Converge shares on Monday dropped P0.62, or 4.49 percent, to settle at P13.20 apiece.
