Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has upgraded the entity rating of Trans World Enterprise Services (Pvt.) Limited, reflecting the company's bolstered position in Pakistan's competitive fixed broadband and Fiber-to-the-Home (FTTH) sector. The rating upgrade underscores the company's strategic alignment with Trans World Associates, its continued network expansion, and its focus on customer experience, contributing to sustainable long-term growth.

According to PACRA, TES has steadily strengthened its market presence, with a footprint in major cities such as Lahore, Karachi, and Islamabad. As of December 2025, the company ranked sixth in Pakistan's FTTH segment, holding a market share of 3.8% with an average household penetration rate of 23% in its active coverage areas. The company has also been recognized in independent industry assessments, including Ookla Speedtest rankings, for its network performance and customer experience.

The company's financial performance reflects this growth trajectory, with a topline of PKR 5,674 million in CY25, marking a 28.2% increase from CY24. TES returned to profitability in CY25, reporting a net profit of PKR 314 million, a significant recovery from a net loss of PKR 7 million in CY24. The company attributes its financial success to the expansion of its subscriber base and network coverage.

TES is well-positioned to capitalize on Pakistan's untapped FTTH market potential, supported by the country's low fixed broadband penetration and the company's plans for geographic expansion and network densification. From a governance perspective, the company benefits from an experienced management team and robust internal controls, ensuring effective execution of its growth strategy.

The ratings upgrade remains contingent upon TES's ability to maintain its improved business profile through continued revenue growth, profitability, and market share expansion, while managing cash flow generation and leverage prudently.