MANILA, Philippines – Axelum Resources Corp. reported a 94% surge in first-quarter net income to P267 million, driven by higher sales volumes and improved margins despite global market volatility.
In a regulatory filing on Friday, the listed coconut product manufacturer said pre-tax profit climbed 89% to P290 million, while consolidated revenue rose 7% to P2.3 billion, supported by increased volume and average selling prices across key product segments.
White meat sales to North America and Australia grew 16% and 53%, respectively, while Asian sales more than doubled due to new customer accounts and a larger order book. Local sales edged up 2% as recent product launches gained traction in retail and online channels.
Gross profit increased 15% to P570 million, with gross margin expanding to 24% on higher contribution from high-value products. Earnings before interest, taxes, depreciation, and amortization rose 59% to P367 million, aided by margin improvements and foreign exchange gains.
"Coming off a high base in 2025, we still managed to demonstrate growth despite an increasingly challenging operating environment," said President and Chief Operating Officer Henry J. Raperoga. He noted that the Middle East conflict continues to impact commodity prices and ocean freight costs.
"Given sustained demand, we shall employ a more tactical approach to capital programming to seize value-accretive opportunities and withstand prolonged uncertainty," Raperoga added.
Axelum maintained a healthy balance sheet, with cash and cash equivalents reaching P3.4 billion as of end-March. Moving forward, the company plans to prioritize new product development and enhance cost efficiency and operational performance.