Cebu-based Top Line Development Corp. is forecasting a banner year in 2025, driven by aggressive expansion in its fuel retailing business just months after its April listing on the Philippine Stock Exchange (PSE).
Chairman, president, and CEO Eugene Erik Lim said both revenue and income are expected to post significant gains as the company scales operations from three to 51 fuel stations by year-end. “It’s really a banner year in terms of revenue and income because of the acquisition,” Lim said at the company’s anniversary celebration.
Top Line recently announced the acquisition of 38 retail fuel stations across the Visayas from Total Oil and Gas Resources Inc. and Ballston Metro Corp., along with a 2-million-liter fuel depot and 15 fuel tanker trucks. It also acquired a Phoenix Petroleum station in Consolacion, Cebu for ₱8.5 million, bringing its current network to 15 operational stations.
COO Bridget Carmel Lim emphasized the strategic advantage of acquiring existing stations over building new ones. “We’ve cut the development timeline by more than 70 percent,” she said, citing time saved on permitting and construction.
With the expanded network, Top Line aims to grow its regional market share beyond the current 8 percent in the Visayas. The company is also pursuing vertical integration and enhanced synergy among its business units, according to Erik Lim.
Top Line has become a standout on the PSE, with shares quadrupling to ₱1.17 from its IPO price of ₱0.30, reflecting investor confidence in its rapid growth trajectory.
In the first half of 2025, Top Line reported a 30 percent increase in fuel volume sales to 44 million liters, fueling a 35 percent revenue jump to ₱1 billion from ₱700 million year-on-year.
The company raised ₱732 million from its IPO to fund its retail fuel expansion, which is now ahead of schedule and delivering early returns.
