Phoenix Petroleum posts record sales volume in 2016
Phoenix Petroleum Philippines capped a banner year with the opening of 505 stations as of the end of 2016 and an all-time high of 1.5 billion liter sales in 2016.
From its first five stations in 2005, Phoenix has now opened 505 stations all over the Philippines.
In addition, sales volume hit a record high of 1.5 billion liters, putting it on track to be the Philippines’ third largest oil company in market share by the end of 2017. Sales volume grew 25% year-on-year on the back of higher retail sales (from new stations built and higher same store sales) and higher sales to corporate direct accounts.
From its beginnings in Davao in 2005, Phoenix Petroleum became the number one independent player in 2012. Volume sales have been growing at a CAGR of 17% since 2011, outpacing industry growth of 9%. Last November, the Company sold its non-core shipping and industrial park
Last November, the Company sold its non-core shipping and industrial park businesses to the Udenna Group, the effective parent and majority stockholder of the Company, for a net proceed of Php 3 billion. Proceeds of the sale were used to pay down debt. More importantly, it will allow the Company to focus its resources on expanding its core petroleum business and to fund possible acquisitions.Furthermore, the robust domestic economy combined with the company’s
Furthermore, the robust domestic economy combined with the company’s strong growth momentum makes the Company attractive for possible strategic investors that will push the company to even greater heights. Phoenix Petroleum is the fastest growing oil company today with an expanding network of operations nationwide. It is engaged in the business of trading refined petroleum products and lubricants, operation of oil depots and storage facilities, hauling, and into-plane services.
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