Fixed broadband and technology solutions provider Converge ICT Solutions Inc. is maintaining its aggressive nationwide expansion and infrastructure spending plans despite rising fuel prices and global economic uncertainties, saying its operations remain resilient even amid concerns over Middle East tensions.
Financial Performance
The listed company posted P11.2 billion in revenues in the first quarter of 2026, driven by subscriber growth and rising demand for prepaid fiber services. Converge's subscriber base grew 14 percent year-on-year to 3.09 million as of end-March, boosted by its Surf2Sawa prepaid fiber service, whose users surged 86.7 percent to 674,000.
Enterprise revenues also rose 16 percent to P2 billion during the quarter. Net income reached P3.02 billion, while EBITDA climbed 3.3 percent to P6.9 billion, with EBITDA margin at 61.8 percent.
Expansion Plans
"We are focused on expanding our fiber footprint, especially in the Visayas and Mindanao," said Converge co-founder and chief executive officer Dennis Anthony Uy, adding that the company is strengthening its national digital infrastructure to support cloud and data-heavy services.
Despite geopolitical tensions affecting the economy, Converge president Maria Grace Uy said operations remained resilient as the company continued improving network reliability and customer support.
During an online media briefing on Thursday, May 14, 2026, Robert Leo Yu, Converge chief finance officer, said Converge is sticking to its previously announced capital expenditure budget of P18 billion to P23 billion this year, mainly for network expansion, fiber rollout, and data center investments.
He said utilities account for only around one percent of total operating costs, limiting the impact of higher oil prices on the business. However, the firm acknowledged that it may provide additional support to field partners and contractors facing higher fuel expenses to ensure uninterrupted installation and maintenance services.
The fiber broadband provider also reiterated plans to expand its physical business centers across the country, particularly in major population hubs where customers still prefer face-to-face transactions. Executives said smaller municipalities, including areas with populations below 50,000, remain part of the company's long-term network rollout roadmap, especially in the southern Philippines.
Despite persistent inflation and broader macroeconomic headwinds, Converge said it is not revising its growth guidance for now, noting that increased stay-at-home behavior could continue to support demand for residential internet services.
AI-Ready Infrastructure
The company is also ramping up investments in artificial intelligence-ready infrastructure, cybersecurity services, and cloud operations. Executives said Converge has already deployed AI-enabled network management systems capable of predictive maintenance and is expanding its cybersecurity monitoring capabilities for both enterprises and government agencies.
Converge, likewise, said it is doubling its electric vehicle fleet as part of its transition toward greener operations.
The company also highlighted opportunities from its newly launched P5-billion data center in Pampanga, which it expects to benefit from rising demand among government agencies, financial institutions, and enterprises seeking locally hosted cloud services instead of relying on overseas facilities.
Executives said the Philippines currently spends billions annually on offshore cloud hosting, presenting a major opportunity for local data center operators. Converge said its local cloud infrastructure offers lower latency, local data residency, and potentially cheaper services for Filipino clients.
Meanwhile, the firm said its long-term plans for AI factory infrastructure and high-computing facilities remain under evaluation, noting that such projects would require massive power and capital investments.
