 Top Line Business Development Corp. posted an all-time high of P3.35 billion in gross revenues for 2024, marking a 21% increase from P2.78 billion in 2023. The Company also recorded a 49% year-on-year growth in net income, reaching P115 million in 2024 compared to P77 million in the previous year. “Our record performance reflects Top Line’s commitment to sustaining value creation through efficient operations, strong inventory management, and steadily expanding our customer base,” Eugene Erik Lim, Chairman, President, and CEO, said.
Fuel volume sales also saw strong momentum, with the Company selling approximately 72.45 million liters of liquid fuels in 2024 which is a 29% increase from 56.2 million liters sold in 2023. The Company reported no write-downs to the net realizable value of inventories in 2024, reflecting its disciplined and efficient inventory management practices. “Our strong inventory position, supported by reliable suppliers and a competitive pricing strategy, has allowed us to navigate fuel price volatility while ensuring quality, consistent product availability,” said Mr. Lim. With Top Line’s recent listing to the Philippine Stock Exchange, the Company is committed to deepen its presence in the high-growth region of Central Visayas. Top Line will continue to invest in expanding its retail footprint and operational capabilities with the infusion of P732.6 million in fresh capital raised from the listing. “We remain focused on our strategic initiatives on scaling our network and volume capacity to deliver quality fuel solutions to more communities in the region,” 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. |
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