Net income climbed 21.1 percent to P109.57 million, already exceeding the company’s full-year 2024 earnings.
“We have already surpassed our full-year 2024 net income, and we remain optimistic heading into the final quarter. As we continue to renovate and integrate our newly acquired retail stations, we expect stronger and a more diversified revenue,” Eugene Erik Lim, CEO, chair and president of Top Line, said in a press release on Nov. 13, 2025.
Top Line's accelerating retail penetration and sustained commercial demand highlight its strengthening position in the Visayas fuel market.
Retail fuels deliver breakout performance
Top Line's retail arm, Light Fuels Corp., posted a 152-percent surge in revenues to P132.08 million for January to September 2025. Retail fuel volume spiked 168 percent to 2.73 million liters, lifted by newly acquired and upgraded service stations coming online.
Commercial trade remains revenue anchor
Commercial fuel trading generated P2.96 billion in revenues, up 24.2 percent year-on-year, supported by a 32.8 percent rise in volume to 68.74 million liters.
“Our performance reflects higher volume turnover and deeper retail market penetration, underscoring our strategy of reaching underserved and unserved communities across the Visayas,” Lim said.
Strong third-quarter lift
For the third quarter of 2025 alone, Top Line posted P1.12 billion in gross revenues, up 28.3 percent from last year, with net income rising 9.3 percent to P32.7 million.
Commercial trade contributed P1.1 billion, while retail revenues surged 282 percent to P68.1 million. Total fuel sales reached 24.32 million liters, up 24.7 percent.
Expansion and capital strategy
The Board has approved the reclassification of 800 million unissued common shares into preferred shares, with potential fundraising to be evaluated at the Dec. 2 special stockholders’ meeting.
“This move aims to create long-term value for our investors while expanding our retail network and strengthening our supply chain,” Lim noted.
Top Line's logistics subsidiary also secured a Bureau of Customs Certificate of Registration, paving the way for fuel importation.
“Once our systems and processes are fully in place, we will commence importation, which will enhance our pricing strategy through better cost and operational efficiencies. Efforts are underway to expand our current depot storage capacity to match the scale of our import activities," Lim added. —Vanessa Hidalgo | Ed: Corrie S. Narisma
