Shell Pilipinas Corp.’s first-half net income fell 44.7 percent to P965 million from P1.745 billion a year earlier, the company said Thursday, as lower global prices hit sales.
Net sales declined 8.9 percent to P114.144 billion from P125.354 billion, according to a disclosure to the Philippine Stock Exchange. The company said this was due to falling global prices and lower marketing volumes.
Core earnings for the first half of 2025 rose 38 percent to P1.98 billion from P1.437 billion in the same period last year.
Expenses increased 6.5 percent to P8.5 billion from P7.978 billion, on higher costs for maintenance, uncollectible receivables and staff.
Shell Pilipinas president and chief executive Lorelie Quiambao Osial said the company’s performance was supported by a balanced product mix, disciplined pricing, stronger customer loyalty and supply-chain efficiency.
“We are on track with our Defend, Grow, Deliver strategy and in its disciplined execution amid external headwinds,” Osial said.
“Our strong free cash flow, core earnings growth, and improved gearing reflect not only our long-term strategic focus but also the tangible short- to medium-term gains we’re delivering,” she said.
The company’s fuel business maintained stable year-on-year volumes. Its mobility unit, the second-largest player in the downstream oil sector, continued its steady performance.
Fleet solutions saw an 18-percent volume increase, while non-fuel retail and convenience retail each grew by 5 percent.
Shell Pilipinas also expanded its EV mobility agenda through a partnership with Evro, the country’s first brand-neutral e-mobility service provider.
The integration allows EV drivers to access over 30 charging points at Shell stations, retail hubs, and commercial centers via Evro’s digital platform.
The company budgeted P2 billion to P3 billion for 2025 capital expenditures, primarily for new mobility stations, growth projects and improvements to its existing supply and distribution facilities.
