Axelum Resources Corporation, the country’s leading fully-integrated manufacturer and exporter of premium coconut food products, reported a growth in exports to markets outside of the United States even as it keeps a close eye on the changing US tariff landscape.

“While the US remains to be its largest export base, Axelum saw increasing contribution from other key markets particularly Europe and Asia, which grew 10 percent and 16 percent, correspondingly,” the firm said in a disclosure to the Philippine Stock Exchange.

It noted though that, “Axelum is closely monitoring evolving tariff policies in the US to effectively integrate potential outcomes into its business strategies.”

Aside from growing exports, a surge in domestic sales boosted Axelum’s net income by 29 percent to ₱138 million in the first quarter of 2025 compared to the same period last year.

The firm generated sales of ₱2.2 billion, up 38 percent from the prior year, driven by higher volume and average selling prices across core product segments.

Desiccated coconut, coconut water and coconut milk/cream which collectively accounted for 74 percent of total revenue, grew 67 percent, 38 percent, and 64 percent, respectively.

At home, domestic sales jumped 61 percent as a result of various initiatives to strengthen online channels and distribution touchpoints nationwide.

“For first quarter, we managed to outperform despite prevailing nut supply constraints, which is expected to improve by the second half. Overall, we feel confident in sustaining our momentum this year, as global demand remains strong amid broader uncertainties,” said Axelum President and COO Henry J. Raperoga.

Gross profit rose 26 percent to ₱495 million, translating to an earninDA) of ₱231 million, up 18% compared to the same period last year. Pre-tax income posted at ₱153 million up 24 percent, year-on-year.

In general, operating margins were stable in spite of peaking input costs. From January to March, average nut price nearly doubled owing to the current shortfall, following prolonged effects of an extended dry spell and successive typhoons in 2024 that significantly reduced total production.

Based on data from the Philippine Statistics Authority, agricultural output rose two percent in the first quarter of 2025, driven by higher production across majority of subsectors, signaling slight recovery due to favorable weather conditions in recent months.

“Axelum anticipates this trend to enhance harvest yields and increase nut availability for the rest of the year. For 2025, Axelum is finalizing plans to unveil exciting new products within the year, aligned with its objective of expanding its consumer branded business,” the firm said.