Strong Sales and Steady Growth
PSC’s performance in 2024 was nothing short of impressive. Its system-wide sales grew by 13.8%, reaching ₱93.5 billion, while revenues from contracts with customers rose by 13.6% to ₱88.7 billion. This strong growth pushed the company’s net income up by 9.4%, hitting an all-time high.
Even with some slowdown in the fourth quarter, same-store sales still managed to end the year with a 3.2% growth. A 3.4% increase in customer traffic in mature stores helped maintain that momentum.
PSC’s performance in 2024 was nothing short of impressive. Its system-wide sales grew by 13.8%, reaching ₱93.5 billion, while revenues from contracts with customers rose by 13.6% to ₱88.7 billion. This strong growth pushed the company’s net income up by 9.4%, hitting an all-time high.
Even with some slowdown in the fourth quarter, same-store sales still managed to end the year with a 3.2% growth. A 3.4% increase in customer traffic in mature stores helped maintain that momentum.
“Our 40th year was about honoring our legacy while building a foundation for the future,” said PSC President and CEO Jose Victor P. Paterno. “Our performance is a direct result of our strategic focus on innovation, customer convenience, and responsible expansion.”
40 Years, 4,000 Stores
Hitting 4,000 stores in its 40th year is a massive milestone for 7-Eleven Philippines. From a single store, the brand has grown into a familiar and trusted name in communities across Luzon, Visayas, and Mindanao. By the end of 2024, the store count had grown even more—reaching 4,130.
“Reaching 4,000 stores in our 40th year is a testament to the trust we’ve earned from our customers and the dedication of our entire team,” said PSC Chairman Jose T. Pardo. “We are proud to be an integral part of daily Filipino life.”
Expanding Services and Financial Access
One of PSC’s big steps in 2024 was expanding financial services. Thanks to its partnership with Pito AXM Platform, Inc., the company installed cash-recycling ATMs in 84% of its stores—roughly 3,493 locations nationwide. These ATMs not only help streamline operations but also play a big role in promoting financial inclusion, especially in underserved areas.
To support its continued growth, PSC increased its capital spending by 12.9%. This went into opening new stores, improving logistics, upgrading technology, and enhancing customer services through its CLiQQ mobile app and food offerings.
Big Returns for Shareholders
The company’s financial health remains strong, closing 2024 with total assets of ₱43.3 billion. Even more impressive is the Return on Equity (ROE), which hit a record 35.2%, up from 32.1% the year before.
In return for shareholder support, PSC distributed ₱7.26 billion in cash dividends and gave out a 100% stock dividend—sending a strong signal of the company’s solid footing and confidence in future growth.
“As we move forward, our focus remains on enriching the lives of our customers through innovation and convenience,” added Paterno.
Leadership for the Future
2024 also marked a leadership shift within PSC. Jose Victor Paterno has now taken on the role of Chairman of the Board, while Jose T. Pardo steps into the role of Chair Emeritus and joins the Advisory Board. Richard Lee, the company’s long-time Chief of Operations, has been appointed as the new President.
This transition is part of PSC’s strong succession plan and ensures business continuity. Paterno and the rest of the board expressed their full confidence in Lee, highlighting his operational expertise and deep connections with 7-Eleven Taiwan—a key strategic partner in PSC’s growth.
“Richard has been an integral part of our leadership team for years,” said Paterno. “His steady hand, commitment to execution, and strong ties with key stakeholders in Taiwan will help carry PSC into its next chapter.”
As 7-Eleven Philippines enters its fifth decade, it does so with a clear vision, strong leadership, and a renewed focus on serving Filipinos better than ever before.
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