PT Trimegah Bangun Persada Tbk and its subsidiaries ( NCKL ) recorded revenue in the first quarter of 2023 of IDR 4.8 trillion, up 74.6% compared to the same period in 2022 which amounted to IDR 2.7 trillion. With this increase in revenue, the net profit of the owner of the parent entity in the same period reached IDR 1.4 trillion. “The increase in NCKL’s revenue was largely due to an increase in volume and production lines at the company and its subsidiaries,” said the company in its official statement, Wednesday (3/5/2023).
For the nickel mining segment, after elimination, NCKL’s revenue was recorded to have increased by 71.3% to IDR 912.8 billion from IDR 532.9 billion. As for the nickel processing segment, the company’s revenue rose 75.4% to IDR 3.9 trillion from IDR 2.2 trillion in the first quarter of 2022. In the first quarter of 2023, the company recorded a gross profit increase 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 was 4.2% due to lower coal prices and lower fuel prices compared to the first quarter of 2022.
Meanwhile, 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 exchange rate in the first quarter of 2023 compared to the same period in 2022. Furthermore, the integrated nickel mining and downstreaming company operating on Obi Island, South Halmahera, North Maluku, emphasized that it would continue to invest and build production facilities that can increase the volume and added value of the products produced.
As of March 31 2023, it was recorded that for the Rotary Kiln Electric Furnance (RKEF) production line, a subsidiary of the company PT Halmahera Jaya Feronikel (HJF) had 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,” the company explained.
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 in 2023. The company will also carry out a more downstream process business by entering the commissioning phase for nickel sulfate production from early April 2023. This is said to be a new milestone in the electric vehicle battery industry with the presence and operation of the first nickel sulfate factory in Indonesia.
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