Consolidated revenues rose 13.2 percent to P10.8 billion, with the residential business accounting for P9.1 billion, up 11.5 percent, and enterprise revenues growing 22.9 percent to P1.7 billion.
Converge is led by broadband tycoons Dennis Anthony Uy and Maria Grace Uy.
Over 2.7 milion home subscribers
The company added over 140,000 new residential fiber subscribers, led by affordable plans BIDA Fiber and Surf2Sawa.
Converge now serves more than 2.7 million residential customers, and still has over 5.4 million fiber ports available—signaling long-term growth capacity.
Growing enterprise base
Enterprise revenues were bolstered by double-digit gains across segments and a 54 percent increase in wholesale income from new clients and services. These gains helped push earnings before interest, taxes, depreciation, and amortization (EBITDA) up by 14.8 percent to P6.7 billion, with a strong margin of 62 percent.
Ongoing network rollout
Return on invested capital (ROIC) held steady at an industry-leading 18.4 percent, underlining operational efficiency and resilience.
The company’s debt position also improved, with net debt falling to P10.3 billion and a conservative net debt-to-earnings before interest, taxes, depreciation and amortization ratio of 0.4 times.
Capital expenditures reached P2.6 billion in the first quarter, covering network expansion and new fiber backbone rollout, with further growth expected as projects are completed in the second half of the year.
