Top Line Business Development Corporation, a leading fuel company based in the Visayas region, announced robust financial results for the first quarter of 2025, marked by significant double-digit growth in both gross revenues and net income. The Company also declared its first cash dividend since its recent listing.
Top Line reported a remarkable 36% year-on-year increase in gross revenues, reaching PHP 1 billion in Q1 2025, a substantial rise from PHP 738.7 million in the same period last year. Net income also experienced strong growth, climbing by 38% year-on-year to PHP 37.9 million in the first quarter, compared to PHP 27.5 million in Q1 2024.
This impressive earnings growth is attributed to the Company’s effective inventory management and a sustained surge in fuel volume sales across its commercial and retail segments. Top Line sold approximately 21.8 million liters of liquid fuels in the first quarter of 2025, demonstrating a significant 46% year-on-year increase from 14.9 million liters in the corresponding period last year.
The Company’s strong performance is underpinned by its strategic expansion initiatives, including an expanded distribution network with successful acquisition of new commercial clients, high customer retention rates, and enhanced penetration in the retail market.
Top Line also demonstrated improved profitability, posting a net income margin of 3.8% and a gross income margin of 9.2% in Q1 2025, slightly higher than the 3.7% and 9%, respectively, recorded in the same period last year. This consistent, albeit modest, year-on-year margin improvement reflects the effectiveness of the Company’s competitive and responsive pricing strategies.
In a move that underscores its commitment to shareholder value, Top Line declared a cash dividend of PHP 0.0032 per common share on May 5, 2025, less than a month after its initial public offering. The dividend 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.
Eugene Erik Lim, Chairman, President, and CEO of Top Line, commented, “Our solid first-quarter performance and the decision to declare dividends reflect Top Line’s resilience and growth-oriented strategy amidst current volatile market conditions. This initial dividend payout also underscores our unwavering commitment to sustainable growth and operational excellence.”
Mr. Lim added, “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.”
Top Line Business Development Corp. is a Cebu-based company active in commercial fuel trading, depot operations, and retail fuel in the Visayas region. The Company has two subsidiaries: Topline Logistics and Development Corp., which aims to engage in the importation, trading, distribution, and marketing of petroleum-based products; and Light Fuels Corporation, focused on the retail fuel sector.
