Pilipinas Shell Petroleum Corporation

03/29/2023 | Press release | Distributed by Public on 03/29/2023 00:17

Press Release

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported) Mar 29, 20232. SEC Identification Number 148293. BIR Tax Identification No. 000-164-7574. Exact name of issuer as specified in its charter Shell Pilipinas Corporation5. Province, country or other jurisdiction of incorporation Taguig City, Metro Manila, Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Brgy. Fort Bonifacio Taguig City, Metro ManilaPostal Code16358. Issuer's telephone number, including area code 632349940019. Former name or former address, if changed since last report N/A10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 1,613,444,202
11. Indicate the item numbers reported herein Item 9 - Other Events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Shell Pilipinas CorporationSHLPH

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Shell Pilipinas continues recovery, posts P4.1B net income in 2022

Background/Description of the Disclosure

Shell Pilipinas Corporation sustains its recovery momentum by generating Php4.1 billion net income in 2022, up by 6% from Php3.9 billion the previous year. This was achieved amidst a challenging year with high inflation, fuel price volatility brought by the Russia-Ukraine war, and Philippine Peso depreciation.
The energy company's 2022 gains are attributed to its strong marketing performance as the year's volume delivery increased by 10%, and a sustained high premium fuel penetration. Operational cash flow, excluding movement in working capital, stands at Php1.8 billion, up from 2021's Php1.1 billion.
"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," says Lorelie Quiambao-Osial, Shell Pilipinas President and Chief Executive Officer.

Other Relevant Information

N/A

Filed on behalf by:
Name Ryan Andres
Designation Legal Counsel & Assistant Corporate Secretary