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Friday, April 26, 2019

Phoenix expansion to continue this year

LEADING independent oil company Phoenix Petroleum Philippines Inc. will continue to embark on massive expansion this year, eyeing more areas that are not served by big players in the industry.

Phoenix vice president for external affairs and business development lawyer Raymond Zorrilla said they are looking at 100 more stations to be established this year, in addition to 300 stations at the close of 2012.

For the first quarter, Zorilla said Phoenix has opened 25 more stations as of March 31, this year. In April, it opened its newest station on P. Ocampo St. corner Kamagong St., San Antonio Village in Makati City.

Of the company's network of 325 stations, 198 are based in Mindanao, 31 in Visayas and 96 in Luzon.

Zorilla also said the company will continue to roll out stations with locator spaces, like its 300th station in Lanang, Davao City.

Business locators at the mega Phoenix Service Station include restaurants, convenience stores, money remittance centers, car servicing shops, bank ATMs, resto-bars, and other establishments.

Phoenix Petroleum started in Davao City with five stations in 2005 and has now expanded to more than 300 nationwide. It is engaged in the business of trading refined petroleum products and lubricants, operation of oil depots, and storage and transport services.

At present, Phoenix is the leading and the fastest growing independent oil player in the country, ranking next to the Big 3 -- Petron, Caltex and Shell -- beating even multinational corporations.

In the first quarter, the homegrown company reported a consolidated revenue of P10.3 billion, a 24 percent increase as compared to the same period last year with P8.3 billion revenue.

The growth was brought about by the 35 percent increase in fuel sales volume during the year, according to a disclosure to Philippine Stock Exchange.

The surge in fuel sales volume from January to March this year was driven primarily by the company's continuously expanding retail station network.

At the same time, sales to commercial accounts, primarily to fishing, mining, power and transportation sectors, registered a continuous significant growth during the year.

The company's net income increased five percent to P224.6 million from P212.9 the same period last year, improving Earnings per share to P0.23 from P0.22.

Phoenix Petroleum increased its market share from 5.5 percent in 2011 to around six percent in 2012, excluding the LPG and Export sectors.

Accomplished entrepreneur and Dabawenyo Dennis A. Uy founded the company in 2005. Since then, Phoenix has grown to be the number one independent oil company in the Philippines in just seven years. It has climbed from being the top 570th corporation in 2006 to being the top 53rd company in the country in 2011. Phoenix has also been recognized by the Bureau of Customs as the Top 7 Importer in the country for 2011 and 2012, and the Top 1 Importer in the port of Davao the past two years.

"I don't know if we would have accomplished what we have accomplished if I grew up somewhere else; but I do know that Davao and Dabawenyos have been an indispensable part of everything that we have achieved," said Uy, the company president and chief executive officer.

Even as Phoenix has grown to be a national brand, its headquarters remain firmly in Davao City.

"Our city is simply a better place to live, work, and prosper," Uy said. "We have enlightened, disciplined and competent leadership, talented people, growing infrastructure, and an ideal balance between work and life."
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