Investor/Analyst Briefing 9M26
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9M26
Investor/Analyst Briefing September 2026
Financial Highlight
- 9M26 revenue increased YoY, mainly driven by higher ASP.
- Gross profit in 9M26 slow down YoY, was mainly due to higher royalty and production cost.
- EBITDA and PATMI growth in line with increased in revenue. The growth also driven by higher output of KPS and ownership in ONC.
Bussines Highlight
- Higher sales volume from mining business in 9M26, was mainly driven by additional ore needed from KPS which reached full capacity in August 2026.
- For 9M26 HPAL sales volume, combined sales from HPL & ONC reached 85,613 tons of contained Ni. Sales volume slow down YoY, as a few September shipments just sailed into the following month.
- Significant growth of RKEF sales volume was driven by higher output of KPS in 9M26. Overall FeNi sales volume grew YoY in 9M26.