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Vale records total sales of US$ 776.9 million

04 February 2019 06:36 AM  Company: PT. Vale Indonesia Tbk[INCO]
Rp. 2,540  +70 (2.83%)

JAKARTA - PT Vale Indonesia Tbk (INCO) recorded total sales of US$ 776.9 million in 2018, 23% above the sales recorded in 2017 of US$ 629.3 million. Meanwhile, the company's EBITDA was recorded at US$ 235.7 million at the end of 2018.

Nico Canter, CEO and President Director of PT Vale Indonesia Tbk (INCO) stated the average realized price in 2018 was 27% higher than 2017. "The higher price definitely had a positive impact on our financial performance," he said as cited from the company's disclosure of information.

The average realized price for nickel shipments in matte in 2018 was US$ 10.272 per tonne, an increase from 2017 number of US$ 8.106 per ton. The company's cost of revenue in 2018 increased by US$ 50.1 million or 8%, from US$ 622.8 million in 2017 to US$ 672.9 million. This was mainly due to higher fuel and coal prices.

"At the end of 2018, we received exploration permits for the Sorowako, Bahadopi and Pomalaa Blocks," he said. (LK/AR)

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PT. Vale Indonesia Tbk [INCO]   Rp. 2,540   +70 (2.83%)