Axelum Resources Corp., the country’s leading fully integrated manufacturer and exporter of premium coconut-based food products, reported a financial turnaround with a net income of ₱688 million last year, from a loss of ₱818 million in 2023.
“Our turnaround strategies delivered positive results with some of our core product segments reaching new highs owing to proper execution and improved market conditions,” said Axelum President and COO Henry J. Raperoga in a disclosure to the Philippine Stock Exchange.
Axelum, an affiliate of Manuel V. Pangilinan-led Metro Pacific Investments Corp. (MPIC), generated record sales of ₱7.3 billion, up 29 percent from the previous year, driven by robust volume growth across core product segments.
Desiccated coconut and coconut milk powder volume rose 36 percent and 28 percent, respectively, fueled by resurgent demand in key export markets. Coconut water volume soared to an all-time high, up 37 percent, and remains one of the fastest-growing beverage categories globally.
Last year, Axelum sealed a multi-year renewal contract with Vita Coco, the world’s largest and most popular coconut water brand, securing a major revenue stream in the long run.
For 2024, Axelum said its revenue trajectory significantly outpaced forecasted industry growth, signaling increasing market share in existing markets.
Gross profit increased 96 percent to ₱1.9 billion, translating to a healthy gross margin of 26 percent, due to the larger contribution of high-value products, higher average selling prices, and enhanced dollar conversion.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) registered at ₱1.1 billion, while pre-tax income stood at ₱777 million, compared to negative ₱986 million in 2023.
For 2025, Axelum said it is in a strong position to implement its growth strategies as it aims for next-level growth. The firm continues strengthening its institutional business by capitalizing on its solid industry footing and unique competitive advantages.
On the consumer front, Axelum said it is in the advanced stages of new product development targeted at retail consumption, with planned launches slated for the year.