Shell Pilipinas sustains growth momentum, profit rises to P4.1 billion in 2022

Shell Pilipinas Corporation, formerly known as Pilipinas Shell Petroleum Corp., has proven its resilience with its net income growing six percent to P4.1 billion last year.

Despite facing a challenging business landscape marked by high inflation, fuel price volatility, and peso depreciation, the company’s strong marketing performance helped it achieve better financials.

Shell Pilipinas attributed its success to the increase in the year’s volume delivery, which went up by 10 percent, and the sustained high premium fuel penetration.

The company also reported an operational cash flow, excluding movement in working capital, of P1.8 billion.

Lorelie Quiambao-Osial, Shell Pilipinas president and CEO, said that the company is well-positioned to meet the current and changing needs of its customers.

“We continue to be reliable, agile, flexible, and adaptive in this ever-changing landscape,” she added.