C06912-2017

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Nov 16, 2017
2. SEC Identification Number
14829
3. BIR Tax Identification No.
000-164-757
4. Exact name of issuer as specified in its charter
Pilipinas Shell Petroleum Corporation
5. Province, country or other jurisdiction of incorporation
Makati City, Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
Shell House, 156 Valero St., Salcedo Village, Brgy. Bel-Air, Makati City Postal Code 1227
8. Issuer's telephone number, including area code
+63 2 499 4001
9. Former name or former address, if changed since last report
N.A.
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 1,613,444,202
11. Indicate the item numbers reported herein
Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Pilipinas Shell Petroleum CorporationSHLPH

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Pilipinas Shell’s year-to-date Q3 earnings up 4%
Background/Description of the Disclosure

Pilipinas Shell Petroleum Corporation (“SHLPH”) profits hit P6.6 billion, up 4% against prior year’s earnings, notwithstanding two months of planned refinery maintenance shutdown and slightly lower inventory holding gains as earnings were bolstered by retail business growth, high V-Power penetration and robust refinery performance. This earnings performance translates to 20% return on average capital employed, demonstrating the company’s ability to effectively utilize capital to generate superior returns.

Retail network sales volumes grew by 5% compared to prior year’s quarter due to the continued higher uptake of Shell’s best performance and efficiency fuel, V-Power with the breakthrough DYNAFLEX Technology, and the expansion of its retail footprint. To date, the company’s highly efficient retail network has 1014 retail stations serving motorists all over the country.

Pilipinas Shell’s non-fuel retailing business captured the vibrant growth in convenience retailing as the business enjoyed double-digit growth even as the recently opened Select stores are still maturing. To date, the company has opened 29 Shell Select stores and has upgraded the store formats of a number of Shell Select sites as part of the company’s commitment to continually improve customer experience. A total of 37 sites already have the Deli2Go® offer, out of which 18 are new openings in 2017. The lube bay and co-locator segment also expanded as the company opened 38 new lube bays and welcomed 30 new co-locators this year, both of which also captured double-digit growth.

Among the commercial businesses, aviation and bitumen enjoyed higher sales volumes compared to prior year’s quarter due to new customer wins, contract renewals and higher customer liftings. The commercial business continues to enhance the value proposition to its customers by fostering long-term and meaningful relationships and delivering value-adding services and world-class technical support more than just being fuel and oil product suppliers.

With the planned preventive maintenance work on the refinery completed in Q2, Pilipinas Shell was able to capture strong refining margins in the third quarter of the year. A fit-for-purpose refinery, coupled with the significant cost savings that the company enjoys from the North Mindanao Import Facility, support the marketing growth of the company.

“With our mission to delight our customers with high quality fuels, we launched our V-Power line of fuels with DYNAFLEX Technology last quarter. And I am very pleased that Filipino motorists have received our best-in-class fuel very well and are experiencing its benefits”, says Cesar Romero, Pilipinas Shell President and CEO. “Working very closely with Ferrari in the F1 circuit, we have developed fuels that enable us to deliver superior performance, which can even restore up to 100% of your engine’s performance.”

”We continue to enhance customer experience as we innovate our offering and launch various customer-delight activities. We have opened our latest format of Shell Select in our Magallanes station to include Deli2Go® and various food and beverage co-locators. With our initiatives, we hope to make the lives of our customers Go Well every day.”
Other Relevant Information

N.A.
Filed on behalf by:
Name Angelica Castillo
Designation Corporate Controller & Investors Relations Manager