Increasing Up To 74.6 Percent, NCKL Pocketed IDR 4.8 Trillion in Revenue in the First Quarter of 2023

Illustration (Photo: Doc. Antara)

JAKARTA - PT Trimegah Bangun Persada Tbk (NCKL) pocketed revenue in the first quarter of 2023 of IDR 4.8 trillion in the first quarter of 2023 or a good 74.6 percent from the same period in the previous year of IDR 2.7 trillion.

The net profit of the owner of the parent entity reached IDR 1.4 trillion in the same period.

Meanwhile for the nickel mining segment, after elimination, NCKL's revenue rose by 71.3 percent to IDR 912.8 billion from IDR 532.9 billion.

As for the nickel processing segment, the Company's revenue increased by 75.4 percent 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," said Corporate Secretary of Trimegah Bangun Persada Franssoka to journalists, Thursday, May 4.

Meanwhile, in the first quarter of 2023, the Company recorded a gross profit increase of 13.6 percent to IDR 1.6 trillion from IDR 1.4 trillion in the first quarter of 2022.

Gross profit margin decreased to 32.7 percent, while the ratio of operating expenses to fixed income was 4.2 percent due to lower coal prices and lower fuel prices compared to the first quarter of 2022.

"Profit for the current period was IDR 1.5 trillion, down from IDR 1.6 trillion in the same period the previous year," continued Franssoka.

He continued, 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.

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 95.000 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 25.000 metal tons/year, the Company's total production capacity will increase to 120.000 metal tons/year.

NCKL has also completed its 3rd refinery high pressure acid leach (HPAL) production line and has succeeded in achieving 100 percent production capacity within 2 months so that MHP's total production capacity increases from 37.000 metal tons/year in 2022 to 55.000 metal tons/year in year 2023.

The company will also carry out a more downstream processing business 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," concluded Franssoka.