Converge plans up to P23-B spending

Fiber internet provider Converge Information and Communications Technology Solutions Inc. plans to ramp up capital spending to as much as P23 billion this year to support network expansion and sustain revenue growth.

In a report on Monday, the company said cash capital expenditures are projected to reach P18 billion to P23 billion this year, including the rollout of up to about 900,000 network ports, mostly in new areas in the Visayas and Mindanao, and investments to improve network resilience and reliability.

Increase in net income

The higher spending comes as Converge posted a 9.6 percent increase in net income in 2025, driven by continued growth in its residential subscriber base and strong expansion in its enterprise business.

Last year, total cash capital expenditures reached P17.7 billion.

Net income after tax rose to P11.9 billion from P10.8 billion in 2024 as consolidated revenues grew 10.2 percent to P44.8 billion from P40.6 billion.