Reinforced by the company’s strategies anchored on cost management strategies and injecting efficiency across its supply chain, the first quarter financial performance of Shell Pilipinas Corporation this year leaped to P1.4 billion from P800 million within the comparative three-month stretch in 2023.

Owing to that upturn in net income, Shell Pilipinas President and CEO Lorelie Quiambao-Osial noted that the company has been pursuing “strategic choices to strengthen our market position, boost business resilience, and drive financial strength.”

She added “as we evolve in an increasingly competitive industry, Shell Pilipinas remains steadfast in delivering value to our shareholders fueled by our refreshed strategy, strong focus on performance, and disciplined delivery.”

And to regain the company’s stronger foothold in the market, Osial asserted that “we will win every day and win together with our motivated workforce, business partners, and the best retailer network in the country.”

The company’s cash flow, in particular, robustly gained traction on to the P2.2 billion level this year, reversing a negative outcome of P5.9 billion in a comparative January-March period in 2023.

“This is attributable to the company’s active working capital management and value delivery on investments,” Shell Pilipinas explained.

The oil firm emphasized that “amid external headwinds, the company continues to be the preferred brand in the country with world-class products delivered through mobility facilities that are safe and clean, qualities that Filipino consumers have always associated with Shell.”

It cited that the continued focus will be on “cash generation initiatives amidst high-interest rate environment,” adding that “this strategic approach reflects the company's commitment to prudent financial management and maintaining a strong balance sheet,” hence, enabling it to reduce its gearing to 53% from year ago’s 56%.

Apart from fuel patronage by its loyal customers, Shell Pilipinas has also been making waves on the non-fuel retail (NFR) segment of its business, having logged sustained double-digit sales turnout.

“This was driven by food and beverage expansion initiatives and an ever-increasing locator business, underscoring SPC’s commitment to diversify revenue streams and enhance customer experiences,” the company stressed.

In the commercial domain, Shell expounded that it has been broadening the base of its customers – and so far, that beefed up the array of end-users it cornered as clients from across industries.

“The company's focused efforts led to a notable surge in the demand for premium products in the commercial fuels and lubricants segments,” the firm pointed out.

Osial explained “this approach not only enhanced our market presence, but also reinforced our reputation as a preferred provider of high-quality fuel solutions tailored to meet the evolving needs of commercial clients and enable their businesses to thrive."

On lubricant offers, the company highlighted that its bolstered campaign for Shell Advance product “contributed to volume growth, complemented by the launch of a new product catering to the mining industry.”