• Revenue climbed 24 percent to P4.19 billion in 2025
• Net income increased 21 percent to P120.29 million year on year
• Light Fuels retail arm posted triple-digit growth
• Total fuel sales volume surged 31 percent to 96.26 million liters
• Firm preparing capital raising in 2026 to expand supply chain
Cebu-based Top Line Business Development Corp. is preparing to raise funds anew in 2026 to support expansion, as the fuel distributor reported record financial results last year driven by rising fuel volumes and rapid retail growth.
The company posted P4.19 billion in consolidated revenue in 2025, up 24 percent from P3.37 billion a year earlier, while net income climbed 21 percent to P120.29 million from P99.44 million.
Gross income rose 35 percent to P391.22 million from P289.08 million, reflecting improved pricing discipline and cost management.
“Building on this growth trajectory, we are pursuing cost optimization initiatives to safeguard margins,” said Eugene Erik Lim, chair, president and CEO.
“In 2026, we are preparing for a capital-raising initiative to support supply chain enhancements, including direct fuel importation, expanded storage infrastructure, and retail network expansion,” he added.
Top Line raised about P730 million after listing on the Philippine Stock Exchange in early 2025, with proceeds of the sale partially used to buy assets of Total Oil & Gas.
Retail growth accelerates
Retail operations delivered the fastest growth for the company during the year.
Subsidiary Light Fuels Corp. posted a 126 percent increase in fuel sales volume to 3.63 million liters from 1.6 million liters in 2024.
Retail revenue surged 153 percent to P205.73 million, reflecting stronger station performance and continued network expansion.
“While commercial fuel trading remains the core revenue driver of our business, the triple-digit growth in retail underscores the strong demand potential of Light Fuels. As we continue to renovate the acquired stations, we are positioning the company for sustained and resilient growth,” said Brigitte Carmel C. Lim, senior vice president and chief operating officer.
Commercial trading drives the bulk of revenues
Despite the rapid rise of retail operations, commercial trading continued to generate most of the company’s revenues.
Commercial fuel volumes increased 28 percent to 92.65 million liters from 72.45 million liters, producing P3.98 billion in revenues, up 21 percent year on year.
Overall fuel sales volume climbed 31 percent to 96.26 million liters, highlighting strong demand across both wholesale and retail segments.
“In a high-volume industry characterized by thin margins, a 77-basis-point expansion demonstrates our ability to enhance profitability even amid market volatility,” said Constance Marie C. Lim, first vice president and chief financial officer.
—Edited by Miguel R. Camus
