Axelum expects stronger growth in 2nd half
Axelum Resources Corporation, the country’s leading fully-integrated producer of coconut products, is optimistic of a stronger second half performance, following a robust showing in the first half of the year.
“Despite formidable headwinds, our business continues to generate momentum as we usher into our traditional peak season,” said Axelum President and Chief Operating Officer Henry J. Raperoga.
He added that, “With renewed optimism, we are confident of delivering even better results in the last semester of 2021.” As of June 2021, Axelum reported topline growth of 30 percent to P3.10 billion while net income rose by high double-digits to P318.24 million, primarily driven by significant volume uptick across core product segments.
Since last year, Axelum has been contending with escalating shipping fees, delayed container turnover, limited cargo space and international port congestion.
Nonetheless, on the back of rising global demand, enabled by global widespread economic recovery, Axelum continues to service increasing orders from major customers in key export markets.
Domestically, Axelum is aggressively gaining traction in the e-commerce space following the launch of its digital stores via leading e-marketplaces Lazada and Shopee.
Since April, online monthly sales have nearly-tripled, while continuing to garner mainstream popularity among local consumers.
For 2021, Axelum’s nut opening plant, the largest standalone facility of its kind in the country, on average has been processing 21 percent more coconuts daily, to meet rapidly-growing requirements for its products.
To date, Axelum is producing at record output for its main product categories, translating to a busy manufacturing pipeline well into 2022.
Recently, Axelum was granted fresh tax benefits by the Board of Investments as a qualified entity under the Corporate Income Tax and Incentives Reform Act (CREATE), for organic/non-organic plant-based infused coconut drinks/juices and agglomerated coconut milk powder and other plant-based infused coconut milk powder products.