The Market Monitor Minding the Nation's Business
Shell Pilipinas Corporation (SPC) remains optimistic about sustaining business growth despite persistent local and global economic challenges.
In a recent disclosure, the company reported a net income of P740 million for the first quarter of 2025, down from P1.4 billion in the same period last year, due to heightened market competition and volatility. However, core earnings grew by 26 percent, reaching P870 million.
For the rest of the year, SPC President and CEO Lorelie Osial said the company will continue to prioritize “cash, returns, and growth.”
“After reporting a cash flow deficit in the last six years, we have made the most and is progressing in 2024, and we will continue that momentum in 2025 vis-à-vis by volume growth, sustained cost reductions, and step changes when it comes to working capital improvements,” she said during an online briefing.
In 2024, SPC posted a net income of P1.3 billion, up slightly from P1.2 billion the year before. Core income also improved to P2.6 billion from P2.3 billion in 2023.
SPC Executive Director Reynaldo Abilo said the company’s 2024 performance reflects strategic discipline and adaptability.
“That reflects the kind of financial discipline and operational agility that (we have) as a company. We will sustain these gains and transition these into long-term growth,” he noted.
Abilo added that SPC’s strategic focus over the next five to six years includes reinforcing market presence, reducing debt, and ensuring strong cash flow.
The company has earmarked an annual capital expenditure of P2 billion to P3 billion for 2024 and 2025, to be funded internally.
Executive Director Michael Ramolete said the company will continue expanding its mobility network and investing in infrastructure.
He said plans include enhancing and modernizing service stations and further developing SPC’s largest import terminal—the Tabangao refinery in Batangas City. Additionally, 15 to 20 new retail branches are expected to open to support sales growth.