“Our renewed strategy has been proven effective for our business to thrive amidst the resurgence of selected lockdowns in the country. We are continuously growing our capacity for the remainder of 2021, to prepare for the near and medium-term demand pick-up as active new COVID cases decline, vaccination programs accelerate, and travel restrictions ease,” says Pilipinas Shell President and CEO Cesar Romero.

The Company’s borrowing levels remain controlled, while working capital requirements increased as global market prices for gasoline and diesel increased by ~50% from December 2020.

Unrivaled premium Shell products for all segments

While overall YTD3Q21 marketing volume delivery slightly declined by 6% vs PY due to increased lockdowns, Pilipinas Shell sustained its value delivery through its successful marketing programs and premium product offerings across businesses.

Mobility’s premium fuel penetration increased to 31%, with Shell’s V-Power brand maintaining its position as the most preferred fuel brand in the country. Loyalty price discounts for Shell GO+ members integrate both fuel and non-fuel products, providing a complete service to customers.

Commercial fuels and bitumen continue to be the preferred supplier for key construction sector players. Shell Bitumen Freshair, its eco-friendly bitumen product, continues to be a significant value driver and is currently used in projects like the Php30-billion Cebu-Cordova Link Expressway, an 8.5-kilometer toll road project that includes a bridge connecting Cebu in Cebu City to Mactan island through the town of Cordova.

On the other hand, Shell’s lubricants business continues to thrive in both volume, which is up 36% vs PY and value, with premium products growth and deeper consumer penetration nationwide seen as key levers.

Aviation volumes continue to improve, with volume recovery in the third quarter of over 60% compared to the same period last year, driven by an increase in passenger flights as domestic and international flight restrictions ease.

Future-proof mobility site network expansion

The new “Site of the Future” mobility station in Acienda Silang, Cavite launched last September 28 is the forerunner of innovation for the Philippines and all other mobility stations worldwide. The site’s customer-centric format is designed to enhance customer experiences, is future-proof in offering more energy solutions.

Meanwhile, Pilipinas Shell’s non-fuel retail network expansion continues with 156 Shell Select stores, 219 Select Express, 72 Deli2Gos, and 424 Lube bays. Non-fuel retail operating profit grew by 28% vs same period last year.

The company’s CAPEX program is on-track, with some PhP2.2 billion spending, approximately 68% of which is spent on network expansion. 25 new mobility sites were launched from January to September this year. The rest was used for supply chain maintenance and upgrades, in preparation for demand resurgence.

Sustainability wins

Pilipinas Shell continues to lead in the energy transition with President and CEO Cesar Romero and Vice President and General Manager for Mobility Randy del Valle participating as industry experts and resource speakers in national and regional forums like the Asian Forum on Enterprise for Society 2021 and 9th Philippines Electric Vehicle Summit.

Efforts to work towards a low-carbon future include getting a LEED Green Building Silver rating under Interior Design and Construction: Commercial Interiors Category for the company’s new office spaces at The Finance Center in Bonifacio Global City, Taguig. The certification validates Shell’s efforts to develop indoor spaces that offer a healthy, sustainable and productive work environment.

The company also sustained its commitment to strengthen local economies by supporting the top three start-ups of Shell LiveWIRE: Panublix, an online marketplace for indigenous weavers; Agro-DigitalPH, which connects farmers digitally to their customers; and SACHI (Sustainable and Compostable Horizons Industry) – Group, Inc., a manufacturer of eco-friendly materials, through mentorship, training, and a monthly product development allowance.

Pilipinas Shell is the first Philippine energy company to support the Task Force on Climate-related Financial Disclosures (TCFD) reporting guidelines as part of its commitment to uphold high corporate governance standards in the country. The addition of TCFD to the company’s sustainability framework is seen to enhance transparency in climate-reporting, and promote more informed financial decision-making for its investors and business partners.

Last September 28, Pilipinas Shell took home the 2021 Asia Corporate Excellence & Sustainability (ACES) awards for the ‘Green Innovation category’ for its first mobility station in Plaridel, Bulacan that was built using eco-bricks.

For Enquiries:

Cesar Abaricia
Media Relations Manager, Philippines

Cautionary Note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this press release “Shell”, “Shell Group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

This press release contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this press release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s Form 20-F for the year ended December 31, 2019 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this press release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this press release, November 12, 2021. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release.

We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

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