SBS Reports 66% Revenue Increase In The First Quarter Of 2022

SBS Philippines Corporation (SBS), one of the leading chemical distribution companies in the Philippines, announced its results for the first quarter ended 31 March 2022. The Company reported a strong recovery during the first quarter of 2022 versus its first quarter 2021 results.

Photo Insert: The Company reported a strong recovery during the first quarter of 2022 versus its first quarter 2021 results.

The company reported that its first quarter 2022 net sales amounted to P288.7 million, up by 66% from the comparable quarter of 2021 at P174.1 million, and 26% higher than the previous quarter.

Following a similar upward trend, operating profit on a consolidated basis grew by 90% in Q1 2022 compared to Q1 2021 driven by an increase in sales volume and selling prices as well as a favorable product mix.

Lastly, the company realized a net income of P27.4 million for the first three months of 2022, reversing the P20.8 million loss incurred during the first three months of 2021

“SBS achieved sales growth across all segments particularly the business recovery of the industrial and the feed and veterinary segments from the challenges in 2021. Our wide product portfolio, reliable inventory, and efficient supply chain allow SBS to serve our customers’ requirements timely despite the global logistic disruption that affects many of our peers in the market. This strengthened our position as the preferred one-stop shop supplier of chemical raw materials in the country," said SBS Vice-Chairperson and SVP for Sales and Marketing Operations, Necisto Y. Sytengco II.

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