Shell Pilipinas Corp. reported higher earnings in the first nine months of the year, lifted by steady demand from corporate fuel clients and continued growth in its non-fuel retail business.
In a regulatory filing, the company said core earnings rose 10% to P2.5 billion, while net income jumped 33% to P1.3 billion. Free cash flow ended the period with a P5.0-billion surplus.
“We continue to maintain growth across key segments through September,” Shell Pilipinas president and CEO Lorelie Quiambao Osial said.
The company said its fleet solutions business, which supplies fuel to transport and logistics companies, saw a 13% increase in volume, driven by new corporate clients and stronger usage among existing partners. Sales of commercial fuels also grew 1%.
Shell recently signed a deal to supply lubricants exclusively to the Yanson Group of Bus Companies.
Its non-fuel retail segment, covering convenience stores, food partners, and lubricants, posted an 8% rise in operating profit.
“Our priorities remain unchanged: cash discipline, stronger returns on capital, and profitable growth,” Osial said.
“We enter the fourth quarter on the front foot and intend to finish the year stronger, setting a solid base for 2026,” he added.
Shell Pilipinas operates around 24 fuel distribution terminals and supply points, 10 lubricants warehouses, three medium-range import facilities, and two bitumen facilities nationwide.
It ended 2024 with more than 1,100 retail stations across the country.—MCG, GMA Integrated News