22 November 2024
Jakarta, 22 November 2024 -- PT Trimegah Bangun Persada Tbk (NCKL) or Harita Nickel, an integrated and sustainable nickel mining and processing company, today announced its financial results for the nine months ending 30 September 2024. The results reflect solid operational performance and steady financial growth amidst global market challenges.
Revenue for the period was recorded at IDR 20.38 trillion, an 18% increase compared to the same period last year, supported by higher production volumes in both mining and processing operations. The company achieved a gross profit of IDR 6.66 trillion, a 9% increase year-on-year, while EBITDA rose 14% to IDR 8.88 trillion. Net profit attributable to the owners of the parent company stood at IDR 4.84 trillion, marking an 8% growth compared to the previous year.
Production volumes showed significant improvement, with nickel ore production surpassing 16.27 million wet metric tonnes (wmt), a 12% year-on-year increase. FeNi production from the RKEF smelters reached 95,813 tons, a 39% year-on-year increase, up 39% from the same period in 2023, while HPAL facilities delivered 71,531 tons of MHP Ni, up 47% from the same period in 2023.
The second HPAL facility, PT Obi Nickel Cobalt (ONC), began its first production line in April 2024, and all three production lines successfully reached full capacity by August. This achievement contributed significantly to the overall production output of the HPAL facilities and boosted nickel ore sales increase from the mining division. Additionally, the first HPAL facility started producing and exporting electrolytic cobalt in August, further diversifying the company’s product offerings.
Lukito Gozali, Head of Investor Relations of PT Trimegah Bangun Persada Tbk or Harita Nickel, stated, “These results reflect our continued efforts to optimize operations and maintain profitability despite fluctuations in global nickel prices. The expansion of our production capacity positions us to support the growing demand for nickel, particularly in the electric vehicle battery sector.”
Harita Nickel remains focused on increasing its production capacity while improving operational efficiency. The company’s investments in smelting and refining facilities align with its commitment to Indonesia's downstream industrialization goals. Harita Nickel is dedicated to sustainable practices and advancing the nickel industry in Indonesia.
PT Trimegah Bangun Persada Tbk (“TBP”) operates an integrated and sustainable nickel mining and processing on Obi Island, South Halmahera, North Maluku. Apart from having an IUP, since 2017, the Company, through its subsidiary entities, has had high-grade nickel ore (saprolite) smelters and low-grade nickel ore (limonite) processing refinery facilities since 2021 in the same operational area. These facilities are present to support the industrialization mandate of the Indonesian government. Harita Nickel is also a pioneer in Indonesia in processing and refining low-grade nickel ore (limonite) using High-Pressure Acid Leach technology. This technology is able to process limonite nickel which has not been used so far, into a product of strategic value, namely Mixed Hydroxide Precipitate (MHP). In the following process, MHP is further processed into nickel sulfate (NiSO4) and cobalt sulfate (CoSO4), which are raw materials used to make electric vehicle batteries.
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