According to latest data from the Department of Energy (DOE) on fuels market share, the traditional positioning of the top three big oil players in the country—Petron, Shell and Chevron Philippines—has been disrupted as of the first half of 2020.
Phoenix climbed one notch from its fourth place position in the same period in 2019, dislodging previous third spot holder Chevron Philippines. Petron continues leads the list with 24.88% market share followed by Shell with 18.25% market share. Phoenix posted 6.86% market share and maintains its distinction as the leading independent oil player in the market, being followed by Unioil with 6.48%. Chevron slid to fifth place with 6.13% market share.
In the first quarter of 2020, Phoenix registered a gross profit of P1.7 billion on the back of revenues of P21.9 billion in the period, leading to earnings before interest, taxes, depreciation and amortization (EBITDA) of P503 million. Operating income and net loss stood at P179 million and P215 million, respectively.
In the segment of liquified petroleum gas (LPG), Phoenix reported a 39% increase in volume in the first quarter of 2020 thanks to its key stronghold in Visayas and Mindanao, as well as some headway in the highly competitive Luzon market. Based on DOE data as of the first half of the year, Phoenix enjoys 6.57% of the total LPG market share, up from 5.61% for whole year 2019.
“Despite the continuing challenges of COVID-19, we are grateful for the continued patronage of our loyal as well as new customers who appreciate the value that we provide through our high-performance and high-quality yet competitively priced products and services,” said Phoenix president Henry Albert R. Fadullon.
“This latest development in terms of market share affirms the results of the brand market study we implemented that illustrate Phoenix as an emerging and credible brand alternative to the ones Filipinos have been used to in the market. It encourages and inspires us even more to carry out our vision to be an indispensable partner of Filipinos in their daily journey,” added Fadullon.
In an independent brand health study on fuels in 2019, Phoenix was found to be third in terms of brand awareness as well as brand used most often (BUMO). Phoenix was also recognized as Marketing Company of the Year at the 40th Agora Awards organized by the Philippine Marketing Association in January 2020.