Axelum Expects P5.5 Billion Revenue in 2019

Axelum Resources Corp., one of the country’s leading desiccated coconut and other coconut food products manufacturers, is estimating its 2019 revenues to hit about P5.5 billion and projecting its 2020 top line to grow double digits.  The newly listed firm said its growth trajectory has remained intact for 2019 and is bullish in the year ahead as it sees further growth to be driven by its expansion and acquisition plans. 

“This year, because of the foreign exchange and because of the market problems, the gross revenue target will be something like maybe about P5.5 billion on a consolidated basis. Next year, we should be hitting at least P6 billion,” Axelum President and Chief Operating Officer Henry J. Raperoga said in a December 18 interview with BusinessWorld. In terms of bottomline, Mr. Raperoga said Axelum may reach around P750-800 million for 2019, putting it on-track to hit the P1 billion mark by 2020. 
   
When Axelum held its IPO in October last year, it said it will use 25% of its proceeds to fund strategic acquisitions, where the timing of disbursement is from 2020 to 2022. Mr. Raperoga said the company is already “in serious talks” with at least three local firms for prospective acquisitions and expects deals to “materialize probably in the second half.”