Global Ferronickel Holdings Reports Significant Q1 2025 Net Income Surge Driven by Higher Nickel Prices and Ore Shipments

Published: May 15, 2025 18:17

Save

Global Ferronickel Holdings, Inc. (FNI) reported a significant surge in attributable net income to ₱177.3 million in Q1 2025, up from ₱10.6 million the previous year, driven by early ore shipments and higher nickel prices. Revenues more than doubled to ₱1.21 billion, with mining revenues from Palawan up 105.6% and shipment volumes rising 32.5% to 505,459 wet metric tons (WMT). The average realized nickel ore price increased by 50% to $41.13 per WMT due to constrained supply. Costs also rose, with cost of sales increasing 71.9% to ₱532.3 million and operating costs up 55% to ₱433.3 million, mainly due to tax timing differences and VAT provisions. FNI President Dante R. Bravo emphasized the company’s focus on optimization, innovation, and strategic expansion to sustain long-term growth.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

19 hours ago

High-Grade NPI Smelter Profits Squeezed as Ore Prices Rise and Sales Prices Dip

[SMM Nickel Flash] Based on nickel ore prices from 25 days ago, smelter profits for high-grade NPI remained high this week. However, from the current raw material side, ore prices from both the Philippines and Indonesia increased, while auxiliary material prices saw a slight pullback, leading to an increase in the cash cost of producing high-grade NPI from spot ore. At the same time, high-grade NPI prices experienced some pullback, making it difficult for smelter profits to see sustained improvement.

19 hours ago

High-Grade NPI Prices Fall, Expected to Stabilize as Chinese New Year Approaches

[SMM Nickel Flash] This week, due to a sharp decline in futures triggering arbitrage selling, high-grade NPI prices fell significantly. However, after the selling activity subsided, upstream quotations and the market center gradually returned to normal levels, supported by cost factors. Looking ahead, as the Chinese New Year holiday approaches, market activity is expected to remain subdued, and high-grade NPI prices are projected to hover at highs with limited fluctuations.

19 hours ago

Nickel Prices Drop: SMM 10-12% High-Grade NPI Down 17.2 Yuan, Indonesia NPI FOB Index Falls 2.06 $/mtu

[SMM Nickel Flash] The SMM average price of 10-12% high-grade NPI fell 17.2 yuan/mtu WoW to 1,035.8 yuan/mtu (ex-factory, tax included), while the Indonesia NPI FOB index average price dropped 2.06 $/mtu WoW to 131.2 $/mtu. At the beginning of the week, futures hit limit-down, and nickel prices fell sharply WoW, driving the emergence of arbitrage supplies sold at low prices, leading to a significant decline in high-grade NPI prices.

19 hours ago