17 May 2023
JAKARTA, May 17, 2023 - PT Trimegah Bangun Persada Tbk and its subsidiaries ("the Company") (stock code: NCKL), an integrated nickel mining and downstream company with upstream and downstream capabilities in Obi Island, South Halmahera, North Maluku, booked a net profit of the parent entity of Rp 4.7 trillion in 2022, up 137.1% from Rp 2.0 trillion in the previous year. The net profit of parent entity increased due to a 307.7% rise in its associate's profit to IDR 2.9 trillion compared to IDR 715 billion in the previous year and a 16.3% increase in operating revenue in 2022 to IDR 9.6 trillion compared to IDR 8.2 trillion in 2021. This revenue increase was largely due to volume growth in the Company and its subsidiaries.
In 2022, the Company's operating cost to revenue ratio was successfully reduced from 11.5% to 7.2% with operating costs of Rp 947.0 billion down to Rp 691.7 billion in 2022. Profit of its associates rose 307.7% from Rp715 billion to Rp2.9 trillion as the associates' profit in 2021 only came from the last quarter of 2021 and in 2022 the associates' profit from the full 12 months, while profit for the period rose 121.0% to Rp4.6 trillion from Rp2.1 trillion in the previous year.
In line with the Government's program to advance nickel industry from upstream to downstream, the Company will continue to invest and develop production facilities that will increase production volume and added value. The Company will also continue to maintain a healthy and strong financial position to anticipate future working capital requirements. The Company will continue to cooperate with partners who are able to transfer technology and assist in improving human resource skills in the Company.
For the Rotary Kiln Electric Furnace (RKEF) production line, The company has a subsidiary already in production, namely PT Megah Surya Pertiwi ("MSP") which has a production capacity of 25 thousand metal tons / year, while other subsidiaries of the Company, namely PT Halmahera Jaya Feronikel ("HJF"), has completed the construction of 2 (two) production lines out of a total of 8 (eight) production lines under construction by the end of 2022. The total production capacity of HJF is 95 thousand metal tons/year and its construction is expected to be completed by mid-2023, in accordance with the previously targeted plan.
From the High Pressure Acid Leach (HPAL) refinery production line, the Company has completed the 3rd production line of PT Halmahera Persada Lygend and currently in ramping up period so that the total production capacity of MHP (Mixed Hydroxide Precipitate) will increase to 55 thousand metal tons/year in mid-2023. In addition, the Company is also in the final construction stage of its Nickel Sulphate and Cobalt Sulphate production facilities which are expected to be completed in early second quarter of 2023. Nickel Sulfate and Cobalt Sulfate are one of the main raw materials for precursors needed in manufacturing electric vehicle batteries.
Concerning sustainability, the Company will continuously commit to sustainability integration in business processes, local community engagement and development, and the environment. The five main focuses of the Company's community programs are health, education, economy, social and infrastructure.
About PT Trimegah Bangun Persada Tbk
PT Trimegah Bangun Persada Tbk ("TBP") engages in integrated mining and downstream operations in Obi Island, South Halmahera, North Maluku. In addition to having an IUP, since 2016 the company through its subsidiaries has owned a saprolite nickel smelter and a limonite nickel processing and refinery facility since 2021 in the same operational area. Both facilities are present to support the downstream mandate of the Indonesian government by utilizing the nickel mining products of TBP and its subsidiaries engaged in nickel mining. Through PT Halmahera Persada Lygend ("HPL"), TBP is also a pioneer in Indonesia for processing and refining nickel limonite (low grade) with High Pressure Acid Leach technology. This technology is able to transform unutilized limonite nickel into a strategically valuable product, Mixed Hydroxide Precipitate (MHP). The next process which has entered the commissioning phase, MHP will be further processed into Nickel Sulfate (NiSO4) and Cobalt Sulfate (CoSO4) which are raw materials for electric vehicle batteries.
Media Contact:
Corporate Secretary:
Franssoka (081269889688)
tbp.corsec@haritanickel.com
Investor Relations:
Lukito Gozali (08159901638)
Investor.relations@haritanickel.com
Go Top