Axelum Rebounds with ₱688M Profit in 2024, Driven by Record Sales and Strong Exports – TBC News

Axelum Resources Corp. (PSE: AXLM) posted a ₱688 million net income in 2024, a sharp turnaround from its ₱818 million net loss in 2023.

The company recorded an all-time high ₱7.3 billion in sales, up 29% year-on-year, fueled by strong export demand across core coconut product lines.

Desiccated coconut, coconut milk powder, and coconut water volumes surged 36%, 28%, and 37%, respectively, reaching record levels.

A renewed multi-year contract with global brand Vita Coco secured Axelum’s fast-growing coconut water revenue stream.

Gross profit nearly doubled to ₱1.9 billion, backed by improved product mix, better pricing, and favorable forex rates, lifting gross margin to 26%.

Pre-tax income hit ₱777 million, reversing a ₱986 million loss the year before, while EBITDA reached ₱1.1 billion.

Axelum is poised to expand both its institutional and consumer segments, with new retail products set for launch in 2025.