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Converge ICT Solutions posts record profit and subscriber growth amid Philippine internet expansion

Converge ICT Solutions reported a record net profit of nearly 11 billion pesos in 2024, driven by a 15% revenue increase and strong subscriber growth. The company’s cofounders, Dennis Anthony and Maria Grace Uy, saw their net worth surge 74% to $1.6 billion as Converge expanded its broadband reach and prepared for further infrastructure investments. Converge aims to reach 4 million subscribers by 2027, supported by ongoing government efforts to boost internet access in the Philippines. » More on forbes.com

Historical dividends Dividends

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In 2024, Converge Technology Solutions has already paid €0.0369 in dividends. The last payout was in December 2024.

Financials

In the last year, Converge Technology Solutions had revenue of €1.74B and net profit of -€119.01M

(EUR)	2024	YoY
Revenue	1.74B	6.01%
Gross profit	463.03M	14.67%
Net profit	-119.01M	11,938.20%
EBITDA	-46.26M	147.50%

Fundamentals

Metric	Value
Market capitalization	€718.93M
Number of shares	188.61M
52-week high/low	€3.86 - €1.85
Dividends	No
Beta	1.69
P/E ratio	-6.66
PEG ratio	0.00
P/B ratio	3.30
P/S ratio	0.44

Company profile

Converge Technology Solutions Corp., through its subsidiaries, distributes storage devices and systems, computer products, software, and peripherals. The company also provides installation and maintenance; analytics, hybrid cloud, infrastructure, and cybersecurity services; cloud delivery, compute efficiency, network optimization, and IT spend optimization solutions; and IT professional services, such as data center infrastructure integration and solutioning, and cloud optimization. In addition, it offers business continuity, managed, cognitive, and cybersecurity solutions; IT portfolio management, and consulting services; and multi-site IT deployments, and ISV/OEM solutions. Further, the company provides hardware for education and public sectors. It serves corporate and government institutions. The company has operations in the United States and Canada. Converge Technology Solutions Corp. was incorporated in 2016 and is headquartered in Toronto, Canada.

Name	Converge Technology Solutions
CEO	Greg Berard
Headquarters	Toronto, on Canada
Website	convergetp.com
Sector	Information Technology
Industry	IT Services
IPO	11/13/2018
Employees	2,700