Phoenix Petroleum's Pathway to Sustainable Growth

Despite ongoing challenges, Phoenix Petroleum resiliently sustains recovery, showcasing adaptability and strength through Q3 2023

Phoenix Petroleum stands as a beacon of resilience and adaptability, navigating economic challenges and the lasting impact of the pandemic with remarkable positivity. The cornerstone of its success is a diversified portfolio, including LPG, fuel storage leasing, and asphalt businesses. Notably, the LPG business saw a substantial 57% growth in EBITDA in Q3 2023, attributed to prudent cost management and increased volume.

The fuel storage leasing, constituting the terminaling business, has evolved, generating extra revenue, nearing 50% occupancy with aspirations for 70% by year-end. The asphalt business contributed significantly, with a 16% year-to-date volume growth and a remarkable 21% increase in gross margin, resulting in a striking 35% jump in Q3 EBITDA compared to 2022.

Phoenix Petroleum credits this success to the resilience, hard work, and discipline of its team, emphasizing the importance of diversified income streams. Despite challenges in the retail sector, Phoenix Petroleum remains focused on long-term, sustainable growth, showcasing strategic acumen and commitment across its diversified operations.

Phoenix Petroleum has successfully navigated challenges, capitalized on its diversified portfolio, and is strategically focused on long-term, sustainable growth.