Axelum Resources Corp., the nation’s premier fully integrated manufacturer and exporter of premium coconut food products, is executing a bold growth strategy as it targets new milestones following a net income of ₱688 million in 2024—a dramatic reversal from a loss of ₱818 million in 2023.
“Our turnaround strategies have yielded exceptional results, with several core product segments achieving unprecedented performance, thanks to precise execution and improved market dynamics,” said Henry J. Raperoga, President and Chief Operating Officer of Axelum Resources Corp.
Building on its solid industry foundation and leveraging unique competitive advantages, Axelum continues to reinforce its institutional business. Concurrently, the company is making significant strides in consumer innovation. It is in the advanced stages of developing new products geared toward retail markets, with highly anticipated launches planned within the year.
In 2024, Axelum achieved record-breaking sales of ₱7.3 billion, marking a robust 29% increase compared to the previous year. This growth was propelled by strong volume expansion across core product segments:
- Desiccated Coconut and Coconut Milk Powder: Volumes surged 36% and 28% respectively, driven by a rebound in demand from key export markets.
- Coconut Water: As one of the fastest-growing beverage categories globally, coconut water volumes climbed an impressive 37% to reach an all-time high.
A highlight of the year was Axelum’s multi-year contract renewal with Vita Coco, the world’s leading coconut water brand. This partnership secures a long-term revenue stream, underscoring Axelum’s strategic importance in the global coconut water industry.
The company’s revenue growth in 2024 significantly outpaced industry forecasts, pointing to increased market share across existing markets. Gross profit soared 96% to ₱1.9 billion, yielding a robust gross margin of 26%, bolstered by the growing contribution of high-value products, elevated average selling prices, and favorable dollar conversion rates.
