Top Line ratchets up goal, eyes 50 fuel stations by end-2025

Cebu-based Top Line Business Development Corp. is eyeing to end the year with 50 retail fuel stations, company officials said.

In a media briefing on Friday, Top Line executives said this was a bolder target than what the firm initially set when it made a stock market debut last April.

The original goal was to build 30 stations by 2026. But due to its “flexible” strategy, Top Line is able to ramp up its expansion with the acquisition of existing gas stations from other players.

Operating these stations is its retail arm Light Fuels. Currently, it has four operating retail stations, with eight more under development in Metro Cebu and Cebu province.

Its chief operating officer Brigitte Carmel Lim said the move allowed the group to fast-track the target and cut the time by six to nine months.

“Because it’s rebranding, rehabilitation and then operating,” she told reporters.

Eugene Erik Lim, Top Line chair, president and chief executive officer (CEO), also backed this, saying: “If you compare acquiring a new station and building a new one, it’s worlds apart.”

The company earlier bared a P925-million expansion investment, including the purchase of 38 fuel retail stations located in Leyte, Siquijor and Negros Oriental. It is also beefing up its capacity with a new depot facility in Negros Oriental.

Top Line also disclosed this week its decision to acquire the gasoline station of Phoenix Petroleum Philippines Inc. in Cebu.

“Each station we acquire has been carefully evaluated for its operational potential and its ability to strengthen our network, ensuring it contributes to our bottom line while delivering sustainable value for our shareholders,” the CEO said.

However, he said that Top Line’s expansion would still focus on Central Visayas.

The Lim family-led group raised P732.62 million from its initial public offering.