Shell Pilipinas Corporation has recorded a Php 4.1 billion net income in 2022, up six percent from the previous year amid high inflation, and fuel price volatility amid the Russia-Ukraine war.
The increase was brought about by the 10% increase in volume delivery and sustained high fuel penetration.
“Powering progress for the Philippines will remain to be our commitment. The environment and our customers’ needs are shifting, and Shell Pilipinas is well-positioned to be a trusted partner in meeting the current and changing needs of our customers. We continue to be reliable, agile, flexible, and adaptive in this ever-changing landscape,” Shell Pilipinas president and CEO Lorelie Quiambao-Osial said in a statement.
Pilipinas Shell’s volume sales for commercial fuels jumped 19%, and its net sales also went up by 64.7% to Php 291.48 billion from Php 177.16 billion in the previous year.
In related developments, Shell Pilipinas is also working on its sustainability brand after launching its branded electric vehicle charging facility powered by renewable energy.
The launching of its EV charging facility is in agreement with the Department of Energy (DOE).
“We will continue to explore ways to improve energy efficiency in our operations and in our products and services to better serve our customers and stakeholders,” Quiambao-Osial said.