Top Line Q1 2025 Revenues Grow 36% YoY, Reaching P1 Billion

Top Line Business Development Corp. begins 2025 with double-digit earnings. The Company reported a 36% year-on-year increase in gross revenues, reaching P1 billion in the first quarter of 2025, up from P738.7 million in the corresponding period last year. Meanwhile, net income grew by 38% year-on-year at P37.9 million in the same quarter compared to P27.5 million in the same period last year.

Top Line’s net earnings growth reflects robust inventory management and a sustained rise in fuel volume sales across its commercial and retail segments. The Company sold approximately 21.8 million liters of liquid fuels in the first quarter compared to 14.9 million liters in the same period last year, showing a 46% year-on-year increase. This growth stems from strategic expansion, including an expanded distribution network with new commercial client acquisitions, high retention rates among existing customers, and improved retail market penetration.

The Company has also posted a net income margin of 3.8% and gross income margin 9.2% in Q1 2025, slightly higher than 3.7% and 9% in the corresponding period last year, respectively. This demonstrates consistent, positive modest improvement in margins year-on-year. Competitive and responsive pricing strategies have contributed to sustaining these healthy margins.

Less than a month after its listing, the Company also declared cash dividends of P0.0032 per common share on May 5, 2025. These dividends will be payable on June 18, 2025, to all stockholders of record as of May 22, 2025, and will be funded from the Company’s unrestricted retained earnings as of December 31, 2024. This dividend declaration underscores Top Line’s strong commitment to delivering value to its shareholders.

“Our solid first-quarter performance and the decision to declare dividends reflect Top Line’s resilience and growth-oriented strategy amid current volatile market conditions. This salvo also underscores our unwavering commitment to sustainable growth and operational excellence,” Eugene Erik Lim, Chairman, President, and CEO, said.  

“We are dedicated to sustaining this momentum and maximizing shareholder value as we pursue our strategic initiatives. With a clear vision for growth, we are well-positioned to capture emerging opportunities ahead,” Mr. Lim added.

Top Line Business Development Corp. is a Cebu-based company active in commercial fuel trading, depot operations, and retail fuel in the Visayas region. It has two subsidiaries: (1) Topline Logistics and Development Corp., envisioned to engage in the importation, trading, distribution, and marketing of petroleum-based products; and (2) Light Fuels Corporation, engaged in the retail fuel sector.