JAKARTA – PT Trimegah Bangun Persada Tbk (NCKL), also known as Harita Nickel, an integrated nickel mining company, reported a net profit of IDR 6.4 trillion in 2024, up 13.5% year-on-year (yoy) from IDR 5.6 trillion in 2023.

This increase is nearly in line with revenue growth of 13% in 2024, reaching IDR 27 trillion.

Nickel processing remains the main business line supporting Harita Nickel’s revenue in 2024, posting a rise of 11.6% to IDR 23.2 trillion.

However, the nickel mining business experienced rapid growth, with revenue jumping 22.9% to IDR 3.8 trillion in 2024.

Despite a 18.8% increase in cost of goods sold, gross profit growth slowed, rising only 2% to IDR 8.5 trillion. This caused the gross profit margin to slip to 31.3% in 2024 from 34.7% the previous year.

On the other hand, according to the Indonesia Stock Exchange (IDX) disclosure, the company’s EBITDA grew by 11.3% to IDR 11.2 trillion by the end of 2024, though the margin slightly decreased to 41.4% from 42.1%. (ZH)