The integrated nickel mining and downstream issuer based in Obi Island, South Halmahera, North Maluku, PT Trimegah Bangun Persada Tbk and its subsidiary (NCKL) or Harita Nickel, announced the results of the first quarter of 2023 by recording a revenue growth of 74.6% to IDR 4.8 trillion, compared to IDR 2.7 trillion in the first quarter of 2022. Meanwhile, the net profit of owners of the parent entity reached IDR 1.4 trillion in the same period.
NCKL's management said, in supporting government programs to advance the nickel industry from upstream to downstream, NCKL is committed to continuing to invest and build production facilities that can increase the volume and added value of the products it produces. "The company will also continue to maintain a healthy and strong financial position to anticipate future working capital needs," said the NCKL's written statement received by the editorial team, Wednesday (3/5/2023).
It was further said, for the nickel mining segment, after elimination, NCKL's revenue increased by 71.3% to IDR 912.8 billion from IDR 532.9 billion, while for the nickel processing segment, the Company's revenue increased by 75.4% to IDR 3.9 trillion from IDR 2.2 trillion in the first quarter of 2022. The increase in NCKL's revenue was largely due to an increase in volume and production lines at the Company and its subsidiaries. Issuer TP Rachmat (ASLC) Its revenue shot up 91.6%
In the first quarter of 2023, the Company recorded an increase in gross profit of 13.6%, to IDR 1.6 trillion from IDR 1.4 trillion in the first quarter of 2022. Gross profit margin decreased to 32.7% , while the ratio of operating expenses to fixed income by 4.2% due to lower coal prices and lower fuel prices compared to the first quarter of 2022. The profit for the current period amounted to IDR 1.5 trillion, a decrease compared to the same period the previous year which amounted to IDR 1.6 trillion. "The decline in profit was due to the weakening of nickel and cobalt prices, as well as the strengthening of the Rupiah in the first quarter of 2023 compared to the same period the previous year," said NCKL Management.
As of March 31, 2023, for the Rotary Kiln Electric Furnance (RKEF) production line, the Company's subsidiary PT Halmahera Jaya Feronikel (HJF) has completed the construction of five production lines out of a total of 8 production lines being built. Three production lines are currently under construction and are expected to be completed by the end of the second quarter of this year, bringing HJF's total production capacity to 95 thousand metal tons/year. When combined with the production capacity of the Company's subsidiary, PT. Megah Surya Pertiwi (MSP), which has a production capacity of 25 thousand metal tons/year, the Company's total production capacity will increase to 120 thousand metal tons/year.
Harita Nickel's breakthrough after a successful IPO and entering the stock exchange. NCKL has also completed the 3rd production line of the High Pressure Acid Leach (HPAL) refinery and has succeeded in achieving 100% production capacity within 2 months so that MHP's total production capacity increases from 37 thousand metal tons/year in 2022 to 55 thousand metal tons/year year in 2023. It doesn't stop there, the Company will carry out the process business further downstream by entering the commissioning phase for nickel sulfate production from early April 2023. This will be a new milestone in the electric vehicle battery industry with the presence and operation of the first nickel sulfate factory in Indonesia.
Source: https://investor.id/market/328455/tumbuh-746-harita-nickel-nckl-raup-pendapatan-rp-48-triliun
