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)