Axelum targeting long-term growth
COCONUT product manufacturer Axelum Resources Corp. said Tuesday that it was planning to expand its global reach, launch new offerings, and uphold sustainability development as part of efforts to attain long-term growth.
The strategic initiatives are also aligned with Axelum’s goal to “restart its momentum” after securing a P5.32-billion investment from Pangilinan-led Metro Pacific Agro Ventures (MPAV), the company said in a statement.
“We recognize the importance of adapting [to] today’s business landscape by keeping in step with evolving market trends, pioneering fresh ideas, and, more importantly, embedding sustainability in our way of doing business,” said Romeo Chan, Axelum chairman and CEO.
“This critical focus is to ensure that we constantly serve the needs of stakeholders while contributing to permanent solutions that alleviate marginalization and climate risks,” he added.
Axelum said the firm was hoping to widen its presence globally by entering underserved and unserved areas through distributorships, third-party brokers, or physical store expansions.
The company has exported coconut products and penetrated markets in the US, Canada, New Zealand, Europe, the Middle East, and other Asian countries, Securities and Exchange Commission data showed.
“For over thirty years, Axelum has been catering to a top-tier clientele composed of renowned international household brands,” the coconut product producer said.
Recent growth initiatives include tapping “experienced” professionals, reorganizing the salesforce, and improving on-the-ground networking and account servicing to strengthen local presence, it said.
Axelum said it had also invested in several digital touchpoints to “enhance customer lead generation and promote mainstream awareness.”
The Chan-led company, which markets and sells goods under the Fiesta and Fiesta Tropicale brands, said new products would be made available “in the coming months,” and that continuous research and testing was being done.
“Axelum is committed to unlocking the massive potential of its consumer segment by reintroducing existing products and developing incubator projects geared towards a thriving healthconscious population globally.”
This year, Axelum said it would establish a structured sustainability framework with long-term goals spanning its four primary sustainability pillars: livelihood, health, education, and climate.
As of end-September of 2023, the company incurred a net loss of P118.12 million, reversing the P717.28-million profit posted a year earlier, while consolidated net sales dropped to P4.28 billion from P5.31 billion.
Axelum’s lower-than-expected financial performance last year almost cost its partnership with MPAV, as the latter decided to “dig deeper into assumptions and the KPIs (key performance indicators)” before closing the deal.
The company’s share price was down 2.17 percent at P2.25 each on Tuesday amid a 0.4-percent upturn in the benchmark Philippine Stock Exchange index.