Pryce Corporation (PPC) forecasts that its industrial gas segment could contribute between Php 400 million to Php 600 million annually to net income over the next two to three years, provided sales reach 90% to 95% capacity utilization at its Liquid Oxygen Facility (LOF) in Cagayan de Oro City.
The industrial gas business continues to demonstrate robust growth. Sales volume jumped 66.2%, from 428,617 to 712,149 equivalent standard cylinders, fueled by aggressive marketing efforts following the launch of the LOF.
This outlook comes on the back of a strong first quarter in 2025, where net income surged by 48.8% to Php 1.06 billion, up from Php 713.67 million in the same period last year.
The earnings boost was driven primarily by an 8% increase in LPG retail sales across the VISMIN region, as well as a Php 362 million gain from marketable securities.
Consolidated revenues for the first quarter climbed 14.24% year-on-year, reaching Php 5.36 billion compared to Php 4.69 billion in Q1 2024. LPG remained PPC’s core revenue driver, contributing 93.03% of total revenues.
Meanwhile, income from operations grew modestly by 3.75%, rising to Php 889.01 million from Php 856.88 million. Operating expenses declined by 1.6%, attributed to the strategic turnover of select sales centers to dealers, resulting in reduced rent, fuel, and maintenance costs.
Earnings per share (EPS) also rose sharply, increasing 48.8% to Php 0.56 per share, up from Php 0.38 in the first quarter of 2024.
