Key points
- Sales revenue increased by 13.1% to $938.4 million
- Profit after tax increased by 365.8% to $74.3 million
- 62,019 tonnes of finished nickel metal produced
- Hengjaya Mine RKAB increased from 9.0 to 14.3 million wmt
- Refinancing of bank loans completed
Full summary
Nickel Industries Ltd reported its half-year financial results for the period ending June 30, 2026, showing a 13.1% increase in sales revenue to $938.4 million and a significant 365.8% increase in profit after tax to $74.3 million. The company's nickel production operations produced a combined 62,019 tonnes of nickel metal. The Hengjaya Mine saw an increase in its Reserve and Allowance for Biophysical (RKAB) from 9.0 to 14.3 million wet metric tonnes (wmt) for 2026. Additionally, the company completed the refinancing of its bank loans and made significant investments in its Excelsior Nickel Cobalt (ENC) project, acquiring a further 2% for $46 million, increasing its interest to 46%. The company also entered into agreements for new HPAL investments, including a 36% interest in the Chengsheng New Energy (CNE) HPAL project and a 17.5% interest in the Teluk Metal Industry (TMI) HPAL project.
Guidance
Revenue: $938.4 million, Profit after tax: $74.3 million, Nickel production: 62,019 tonnes
Outlook
Nickel Industries Ltd expects continued growth in nickel production and sales, driven by increased RKAB and new project investments.