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Manila Bulletin devider Business devider Trade & Industry devider Lower sales, higher operating expenses drive down Shell Pilipinas' net income

Lower sales, higher operating expenses drive down Shell Pilipinas' net income

Published Aug 14, 2025 12:28 pm  |  Updated Aug 14, 2025 07:37 pm
A decline in sales volumes due to a decrease in fuel prices, coupled with higher spending for its operations, has resulted in a 44.7-percent drop in the net income of major oil firm Shell Pilipinas Corp. (SPC) during the first half of the year.
SPC disclosed to the Philippine Stock Exchange (PSE) on Thursday, Aug. 14, that its net income during the first six months of 2025 slowed down to ₱965 million, a significant decline from last year’s figure of ₱1.7 billion.
The company attributed the decline to lower pump prices, driven by a general decrease in global oil prices and reduced marketing volumes. This, in turn, led to an 8.9-percent decrease in net sales, bringing the total down to ₱114 billion.
Selling, general, and administrative expenses saw a 6.5-percent increase due to higher spending on repair and maintenance, write-off of uncollectable receivables, and staff-related costs. This resulted in an increase to ₱8.5 billion for the first half of 2025.
Despite this, core earnings jumped from ₱1.4 billion to ₱1.9 billion as SPC saw better margins and higher sales of premium products.
Moving forward, SPC plans to accelerate its growth across its diverse businesses to cushion the impact of ongoing market volatility.
According to SPC, it has inaugurated its Davao import facility, which would contribute to the company’s market position in South Mindanao as it is expecting an expansion of its regional sales.
Lorelei Quiambao Osial, SPC president and chief executive officer (CEO), assured that the oil firm is on course to maintain its growth momentum.
“We are on track with our Defend, Grow, Deliver strategy and its disciplined execution amid external headwinds,” she said, citing global oil price impacts.
“These results show how strategy, discipline, and agility are enabling us to create sustained value—while navigating an ever-changing and volatile environment,” she added.
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