Axelum Earns ₱420-M In First Half
Axelum Resources Corp. the country’s leading fully-integrated exporter of premium coconut products has disclosed that its net income soared 32% to ₱420.85 million in the first half from ₱318.42 million following increased contribution of new products covered by fresh tax incentives granted in 2021.
Photo Insert: Axelum's leadership
Operating results from January to June 2022 for Axelum generated sales of ₱3.38 billion, up 9% from ₱3.10 billion, attributed to steady volumes and higher average selling prices across core product segments.
Global market demand remained robust but was hampered by international shipping constraints, resulting in stable volume growth, the company disclosed to the Philippine Stock Exchange.
In addition, Axelum strategically implemented pricing adjustments to mitigate escalating inputs and preserve operating margins. Gross profit rose 8% to ₱861.89 million, translating to an industry-leading gross profit margin of 26%.
EBITDA rose 19% to ₱632.65 million from ₱532.33 million due to cost optimization and the impact of a stronger dollar on its export business.
"We continue to outperform in spite of formidable headwinds, particularly prolonged ocean freight challenges and elevated commodity prices. Nonetheless, we are positive that rising global demand for healthy essentials specifically coconut-based products, will keep us strongly positioned in a post-pandemic environment,” according to Henry J. Raperoga, President and Chief Operating Officer of Axelum Resources Corp.
Looking ahead, Axelum is planning to launch new product variants targeted at the mainstream retail sector, aligned with its strategy to accelerate and unlock the massive potential of its B2C segment.
To date, Axelum continues to install incremental production and storage capacity to reinforce manufacturing capabilities.