JAKARTA - PT Vale Indonesia Tbk. (INCO) recorded an increase in net profit throughout 2025 to 76.06 million US dollars compared to the previous year which was recorded at 57.67 million US dollars.
"This performance reflects consistent operational improvements, stronger production levels, and a disciplined approach to cost efficiency," said Director & Chief Financial Officer of PT Vale Indonesia Tbk Rizky Putra in a statement to the media, Tuesday, March 17.
Throughout 2025, he explained, the company allocated around US$485.9 million for capital expenditure, an increase of 46 percent compared to the previous year which was recorded at US$332.1 million.
According to him, this increase mainly reflects spending for development projects and sustaining capital needs.
As of December 31, 2025, the company's cash balance was recorded at US$376.3 million, showing a solid financial position to support the timely implementation of growth projects.
On the other hand, Vale's matte nickel shipments also recorded a moderate increase in 2025 reaching 73,093 tons compared to 72,625 tons in 2024.
"This supports Vale in being able to maintain a solid EBITDA of US$228.2 million throughout last year, slightly higher than the previous year," continued Rizky.
On a quarterly basis, INCO posted EBITDA of US$61.9 million or down 17 percent from the previous quarter, mainly due to lower production volumes.
Meanwhile, the realized average price of matte nickel in 2025 was recorded at US$12,157 per ton, down 7 percent from US$13,086 per ton in the previous year.
"Despite being in a weaker environment, the increase in the level of payability of matte nickel which came into effect in July last year, as well as higher delivery volumes, drove the total increase in the company's revenue to US$990.2 million," said Rizky.
Meanwhile, on a quarterly basis, INCO's revenue reached US$284.8 million or increased 2 percent compared to the previous quarter, driven by a moderate recovery in nickel prices.
"This confirms the strong commitment of the company together with its shareholders in facing challenging market conditions and confidence in the long-term prospects of the industry," added Rizky.
In terms of costs, although the company carried out major maintenance on one of the furnaces, the company managed to maintain a competitive cash cost unit of sales of US$9,339 per ton in 2025, slightly lower than US$9,374 per ton in the previous year.
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