Manila: Over 50 percent of Converge ICT Solution's capital expenditures (capex) for 2026 has been allocated for the firm's expansion in the Visayas and Mindanao, a company executive said Thursday. In an online briefing, Robert Yu, Converge ICT Solutions chief finance officer, did not specify their target number of clients in the Visayas and Mindanao for this year but stated that a significant portion, above 50 percent of their capex budget, is intended for the central and southern Philippines.

According to Philippines News Agency, Yu explained, "If you can just do the math, we target 900,000 ports. If it's above 50 percent, so roughly 500,000 ports will be rolled out in VisMin for the year." The company revised its 2026 guidance, with capital expenditure now between PHP17 billion and PHP20 billion from the previous PHP18 billion to PHP23 billion, considering the impact of current economic developments. Yu noted that most of the financing would be directed towards network-related expenses.

In the first half of the year, Converge registered a 3.1 percent annual rise in revenues to PHP22.4 billion, with the majority coming from residential revenues at PHP18.5 billion, and the remaining PHP3.9 billion from enterprise revenues. The net income after tax was reported at PHP5.5 billion, a decrease from the previous year's PHP5.9 billion. Yu indicated that they anticipate inflationary pressures will primarily affect the residential segment. Consequently, they have reduced their guidance for the year and have bolstered investments in the enterprise segment. "We tapered expectations for the rest of the year, given the inflationary issues that we are facing. And we do expect to get back on track next year, hopefully," he added.