MANILA, Philippines — American infrastructure and data center firm Vertiv on Tuesday opened its new 8,000-square feet office in the city of Mandaluyong, marking its latest expansion in the country amid expectations of a double-digit growth in revenues of its local market this year.
The New York Stock Exchange-listed company occupies four floors at the SM Mega Tower in the city’s central business district where over 1,200 employees work.
“We designed the Vertiv Manila office to be open and dynamic to inspire our employees and encourage them to be energetic and creative when at work,” Vertiv General Manager David Yao said in a statement.
Aside from their new Mandaluyong office, Vertiv also has offices in Davao and Cebu.
Meanwhile, Vertiv’s chief financial officer David Fallon said the $7.6-billion company posted a 20-percent growth in revenues in 2023.
Revenue growth projections
“When we look at growth, we anticipate to grow on an annual basis somewhere between 8 and 11 percent per year over the next five years. If you speak with one of our analysts and some of the industry analysts, they would probably say that is conservative,” Fallon said.
“The bottom line here is that we are already participating in a very strong, robustly growing industry before AI, but AI has definitely catapulted that to a different layer,” he added.
For their Philippine market, another company executive said they project a 30-percent growth in revenues this year, or the same level as in 2023.
“We are actually seeing a very big opportunity in terms of the data center investments in the country,” said Vertive Philippines sales director Pam Albar.
“So what we would like to do is to make sure that we actually use this opportunity to bring forward some of the industry-leading innovations that we have, in terms of our solutions also, to make sure that our customers will be able to experience them,” she said further.
The Vertiv executive said that telecommunications firms are their biggest local clients, as well as hyperscalers and business process outsourcing companies.