PT Vale records profitable third quarter of 2021

About Vale

10/28/2021

PT Vale records profitable third quarter of 2021

PT Vale Indonesia Tbk (“PT Vale” or the “Company”, IDX Ticker: INCO) and its subsidiaries (jointly the “Group”) today announced unaudited results for the third quarter of 2021 (“3Q21”) showing increased sales and revenues on a quarter-over-quarter basis.

In 3Q21, the Group recorded sales of 18,571 metric tons of nickel matte with revenues of US$271.5 million – increases of 17% and 30% respectively over the prior quarter.

We continued to deliver more sales volume in 3Q21 and benefited from an increasing nickel price during the period. We also booked higher profit of US$64.2 million, despite a higher cost of revenue compared to the previous quarter. Our average realized nickel price in 3Q21 was 11% higher than 2Q21.

Febriany Eddy, CEO and President Director


Summaries of the announcement are:

  • We booked higher profit of US$64.2 million, despite a higher cost of revenue compared to the previous quarter.
  • Our average realized nickel price in 3Q21 was 11% higher than 2Q21.
  • The Group’s cost of revenue per metric ton of nickel matte sold in 3Q21 increased by 8% from the previous quarter. This was driven primarily by a higher coal price.

Further detail of the release is available in the link below:

3Q21 Results Release 3Q21 Production Report 3Q21 Financial Statement


PT Vale records profitable third quarter of 2021