Strong sales buoy Axelum’s Q1 profit

MANILA, Philippines — Earnings of Axelum Resources Corp. rose by 29 percent to P138 million in the first quarter as sales for the period surged due to higher volume and average selling prices across core product segment.

The listed integrated manufacturer and exporter of premium coconut products generated sales of P2.2 billion during the period, up by 38 percent year-on-year.

Desiccated coconut, coconut water and coconut milk/cream collectively accounted for 74 percent of total revenue during the quarter.

While the United States remains to be its largest export base, Axelum said it saw increasing contribution from other key markets particularly Europe and Asia.

Domestic sales likewise soared by 61 percent on the back of various initiatives to strengthen online channels and distribution touchpoints nationwide.

Axelum president and chief operating officer Henry Raperoga said the company managed to outperform in the first quarter despite prevailing nut supply constraints, which is expected to improve by the second half.

From January to March, Axelum said that average nut price nearly doubled due to the current shortfall, following prolonged effects of an extended dry spell and successive typhoons in 2024 that significantly reduced total production.

Citing data from the Philippine Statistics Authority, the company said that agricultural output improved by two percent during the quarter, signaling slight recovery due to favorable weather conditions in recent months.

Axelum expects the trend to enhance harvest yields and increase nut availability for the rest of the year.

“Overall, we feel confident in sustaining our momentum this year, as global demand remains strong amid broader uncertainties,” Raperoga said.

Axelum said plans are being finalized to unveil exciting new products this year as part of its objective of expanding its consumer branded business.

The company said it is also closely monitoring evolving tariff policies in the US to effectively integrate potential outcomes into its business strategies.