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Investor/Analyst Briefing 1Q25

Investor/Analyst Briefing 1Q25

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1Q25

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1Q25


The Company has grown through strategic investments in modern facilities and efficient production lines. Financially, steady revenue growth, good profit margins, and cost management have strengthened its foundation. These achievements reflect our commitment to excellence and competitiveness in the nickel industry

For more details, we invite you to explore our Company Update for Q1 2025.

Financial Highlight

  • GPM is slightly higher, due to higher global nickel prices (SMM NPI 8% - 12%) yoy (2%), then Gross Profit is up by 30%,EBITDA is up by 46%. Profit Attributable to Owners of the Parent Company growth driven by higher volume in mining business and production capacity of processing facilities (ONC & KPS).
Business Highlight

  • Higher sales volume mining business in 1Q25 was due to capacity of ONC which commenced in April 2024. Additional to ONC, KPS the 3rd RKEF smelter, commenced operation in January 2025.
  • In HPAL sales volume, ONC (full capacity in August 2024) is the driver of growth in MHP sales YoY. Both sales HPL & ONC in 1Q25 reached 30,263 tons contained Ni, up 93% YoY. HPAL sales volumes in 1Q25 are combination of MHP and NiSo4. Sales of HPL is 14,082 tons contained Ni and ONC is 16,181 tons contained Ni.
  • Significant growth of RKEF sales volume is due to KPS - phase 1 (which reach full capacity in March 2025). Sales volume of KPS - phase 1 in
    1Q25 reached11,793 tons contained Ni of FeNi. Overall sales volume of FeNi up 39% YoY.