JAKARTA – PT PAM Metalindo Tbk (NICL) posted a net profit of IDR 318.75 billion in 2024, growing by 1,074.71% year-on-year (yoy) from IDR 26 billion in the previous year.

This growth was supported by NICL's sales performance, which rose by 26.32%, reaching IDR 1.44 trillion in 2024.

Ruddy Tjanaka, President Director of NICL, said that the company's performance growth was driven by an increase in nickel sales volume.

Although nickel demand in Indonesia weakened, Ruddy noted that NICL managed to increase its sales volume from 1.84 million metric tonnes (MT) in 2023 to 2.30 million MT in 2024.

“This increase in sales volume made a significant contribution to the company’s revenue,” Ruddy said in an official statement on Wednesday (26/3).

According to IDNFinancials.com, NICL's total assets increased by 22.90% in 2024, reaching IDR 1.05 trillion, with cash and cash equivalents of IDR 227.95 billion. Meanwhile, total equity rose by 17.89%, amounting to IDR 878 billion. (DK/KR/ZH)