PT Vale reports higher production and sales in the second quarter of 2018

7/25/2018

PT Vale reports higher production and sales in the second quarter of 2018

​​

PT Vale Indonesia Tbk (“PT Vale” or the “Company”, IDX Ticker: INCO) today announced its unaudited results for the second quarter of 2018 (“2Q18”). The Company recorded production of 18,893 MT of nickel in matte, and sales of US$ 204.2 million in the quarter.

Production of nickel in matte was about 10% higher in 2Q18 than in 1Q18. In addition, revenue was also about 20% higher, due to higher deliveries and average realized price in 2Q18.”


Nico Kanter


Nickel matte deliveries increased by approximately 9% to 18,764 MT, and average realized price rose by around 10% to US$ 10,880 per ton in 2Q18 compared to 1Q18. However, considering the volatility in the market, we remain focused on optimizing our production capacity, improving efficiencies and reducing costs,” reported Nico Kanter, CEO and President Director of the Company.

The Company’s cost of revenue in 2Q18 increased by US$12.7 million in line with the increase in production in the quarter from 17,141 MT in 1Q18 to 18,893 MT in 2Q18. The cost of revenue per metric ton of nickel in matte was slightly lower in 2Q18 than 1Q18, despite increase in fuel price in the quarter. Fuel price increased by 5% on a unit cost basis. Fuel represents one of PT Vale’s largest costs.

In 2018, PT Vale plans to produce approximately 77,000 t of nickel in matte. At the same time, the Company will maintain its focus on improving cost efficiency to sustain competitiveness in the long term without compromising the Company’s foremost value: Life Matters Most.

Check out the hightlights

Highlight 2Q18

Read the complete report by downloading the document below:

Downloads

Quarterly Result Financial Statement Production Report

​​​​​

PT Vale reports higher production and sales in the second quarter of 2018