Axelum earmarks P200 million for 2026 capex

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March 3, 2026 | 12:00am

MANILA, Philippines — Axelum Resources Corp., a listed integrated manufacturer and exporter of premium coconut products, is spending around P200 million this year to support its capacity building initiatives and technology upgrades.

Axelum vice president and investor relations officer Paul Cheah told The STAR that the allocated capital expenditures of the company this year will be used for the installation of new equipment, repairs and maintenance as well as upgrading of management systems.

This year’s budget is lower than the approximately P300 million to P400 million capex budget which the company allocated in 2025.

Axelum, which is 34.8-percent owned by a subsidiary of Manuel V. Pangilinan-led Metro Pacific Investments Corp., earlier said it remains focused on its strategic priorities to further strengthen competitiveness amid a challenging operating environment including peaking coconut oil prices, global supply shortfalls and current US tariff policies.

The company has yet to report its full year 2025 results, but was previously looking at closing the year on a high note, with the its revenue trajectory headed to a record high.

From January to September 2025, the company’s net income soared by 88 percent year-on-year to P636 million, with sales jumping by 48 percent to P7.6 billion.

Sales for the nine-month period, which already eclipsed full year 2024 topline, was fueled by robust volume growth and higher average selling prices across major product categories.

Booming consumer demand for natural and plant-based food choices also fueled sales of the company’s white meat segment, mainly comprised of desiccated coconut, sweetened coconut and coconut milk/cream.

Axelum president and COO Henry Raperoga earlier said the company is positive about its growth prospects as it continues to invest in building capacity and upgrading technology to meet rising demand.