2018 revenue rose 24.9%YoY while reported NPAT-MI increased 7.1% YoY. Top-line growth was mainly due to petroleum price increases (diesel and gasoline prices were up 12.2% and 22.6% YoY, respectively) and total sales volume growth of 2%. Meanwhile, NPAT-MI grew thanks to 1) COCO sales volume growth of 5.4% YoY supporting the petroleum segment, despite a weak Q4 due to a consistent downtrend in petroleum prices, and 2) the petrochemical and jet fuel segments also performed well.