Fiber firm scales back 2025 growth targets

CEBU, Philippines — Philippine fiber broadband operator Converge ICT Solutions has scaled back its full-year growth target after a strong first half underscored both the strength of domestic demand and the structural challenges facing the sector.

Revenues in the first six months of 2025 climbed 11.6 percent to P21.8 billion, with net profit up 12.4 percent to P5.9 billion.

During the recently held media briefing, Converge President and co-founder Dennis Anthony Uy, said the growth was driven by both core residential services, which rose 10.4 per cent to P18.4 billion, and enterprise connectivity, which expanded 18.3 percent to P3.4 billion.

Net residential fiber additions exceeded 260,000, lifting the company’s subscriber base to 2.8 million.

Despite the momentum, Converge revised its 2025 revenue growth guidance to 10–12 percent, from an earlier 14–16 percent.

Uy pointed to manpower shortages in the domestic telecoms sector, with trained fiber technicians in demand both locally and abroad, constraining service response times.

Alongside financial results, the group notched several operational milestones. Its Caloocan Data Center became the first in the Philippines to earn full Tier III certification from the New York-based Uptime Institute.

Meanwhile, the landing of the Bifrost trans-Pacific cable in Davao is expected to strengthen the country’s role in international data traffic and position Converge to compete more aggressively for wholesale clients.