Axelum Resources Corp. posted a sharp rise in first-quarter earnings as stronger export demand and higher-margin product sales offset mounting pressures from volatile commodity prices and elevated shipping costs linked to the Middle East conflict.
The integrated coconut food manufacturer and exporter reported a 94 percent jump in net income to P267 million for the January-to-March period, while pre-tax profit climbed 89 percent to P290 million. Consolidated revenues rose 7 percent to P2.3 billion, driven by higher sales volumes and improved pricing across major product categories.
Growth was led by Axelum’s export business, with white meat sales to North America rising 16 percent and Australia surging 53 percent. Sales to Asia more than doubled as the company secured new customer accounts and expanded its order book. Domestic sales also grew 2 percent, supported by newly launched consumer products gaining traction across supermarkets and online channels.
Gross profit increased 15 percent to P570 million, lifting gross margin to 24 percent as higher-value products contributed a larger share of sales. EBITDA climbed 59 percent to P367 million, helped by stronger margins and foreign exchange gains.
“Coming off a high base in 2025, we still managed to demonstrate growth despite an increasingly challenging operating environment,” said Axelum president and chief operating officer Henry J. Raperoga. “We feel the broader consequences of the Middle East conflict, particularly its disruptive effects on commodity pricing and ocean freight.”
The company said it would adopt a more tactical capital allocation strategy while continuing to invest in product innovation and operational efficiency initiatives.
Axelum also entered 2026 with a strong balance sheet, ending the quarter with P3.4 billion in cash and cash equivalents, a current ratio of 4.2, and a low debt-to-equity ratio of 0.2.
Management said the company remains focused on strengthening supply chain resilience, streamlining operations, and expanding its higher-value consumer product portfolio to navigate prolonged market volatility while sustaining growth momentum.
