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Pilipinas Shell Reports 3Q2016 Net Sales Down by 13%

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MANILA, Philippines – Pilipinas Shell Petroleum Corporation (PSE:SHLPH) reports net sales loss by 13 percent during the third quarter from P39.7 million last year to P35.13 million.

The year-to-date three-quarter earnings of the company decreased from P122.36 million to P101.14 million against last year. Alternatively, the cost of sales during the third quarter dropped from P36.22 million to P29.8 million. The year-to-date sales cost also decreased from P106.77 million from P82.49 million.

Despite the lower net sales, the third quarter gross profit increased from P3.48 million to P5.34 million. The year-to-date gross profit for the past nine months also climbed from P15.59 million to P18.66 million.

The company registered administrative, selling, and general expenses amounting to P3.16 million, which is lower than last year P3.58 million record during the third quarter. The year-to-date nine-month period had the same measure at P9.22 million this year, which is a decrease from last year’s P9.54 million.

The three-quarter operating returns increased from P6.21 million to P9.53 million. On the other hand, the revenue before income tax provision during the past nine months rose from P4.87 million to P8.93 million.

In October 2016, the company decided to reduce its initial public offering (IPO) from 330 million shares to 291 million shares. This is due to its ultimate parent company’s request to retain at least 55 percent of its stake.

The bulk of the company’s proceeds is planned to be allocated for retail network growth. By 2020, Shell is eyeing a 1,220 growth.

Pilipinas Shell was incorporated in the Philippines on January 9, 1959. The registration of the company with the Securities and Exchange Commission (SEC) was also on the same period. Primarily, the corporation is engaged in marketing and refining petroleum products. The corporate term of the company was extended to another five decades from January 9, 2009 to January 8, 2059. This was granted by SEC on December 5, 2008.

Shell Overseas Investments BV (SOIBV), the immediate parent company of Pilipinas Shell has a 68 percent stake. The corporation is registered under Netherlands’ jurisdiction. The remaining shareholdings at 32 percent are owned by foreign and Filipino shareholders. The ultimate parent of the company is Royal Dutch Shell Plc (RDS), which is incorporated in the United Kingdom.

The average measure of common shares for the third quarter is P1.59 billion, which is higher than last year’s P832.19 million. As of September 30, 2016, the earning per share of the company ended at P0.81 per piece in the third quarter, higher than last year’s P0.76 per piece.

Here’s some additional pieces of information about SHLPH’s top 10 players’ sentiment, foreign fund flow, and volume.

Top 10 Players’ Sentiment

Participants with a 100% Buying and Selling Activity from Nov-03-2016 to Nov-15-2016 at 03:30PM:

  • 0 out of 126 participants or 0.00% of all participants registered a 100% BUYING activity
  • 22 out of 126 participants or 17.46% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 68.4422
  • Top 10 Players’ Selling Average: 68.1536

SHLPH - PILIPINAS SHELL PETROLEUM CORP - Top 10 Players' Sentiment - November 15, 2016

Foreign Fund Flow

On a 9-day trading period, SHLPH is on a Net Foreign Buying worth P832,184,721.00.

SHLPH - PILIPINAS SHELL PETROLEUM CORP - Foreign Fund Flow - November 15, 2016

Volume

SHLPH has been registering a daily volume that is below its 9-day volume average for 7 straight trading days already.

SHLPH - PILIPINAS SHELL PETROLEUM CORP - Volume - November 15, 2016

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