Nickel Asia Corp. said its net income quadrupled in 2025, driven by stronger ore exports and firmer saprolite prices, underscoring a rebound in nickel markets and improved operating leverage.
Attributable net income last year surged to PHP6.27 billion from PHP1.52 billion in 2024, while earning before interest, taxes, depreciation and amortization (EBITDA) rose 56 percent to PHP13.75 billion from PHP8.79 billion.
Revenues from saprolite and limonite ore climbed 39 percent to PHP27.25 billion as operating mines sold 18.56 million wet metric tons, up 9 percent year on year. The weighted average ore price increased 28 percent to USD25.66 per wet metric ton.
Saprolite and limonite exports reached 10.93 million WMT at an average price of USD36.14 per WMT, reflecting a 13 percent rise in volume and a 32 percent jump in prices. Deliveries to the Coral Bay and Taganito HPAL plants totaled 7.64 million WMT, with an average realized price of USD6.86 per pound of payable nickel.
The company’s renewable energy arm, Emerging Power Inc., posted a 1 percent increase in generation to 226,897 MWh, though EBITDA fell 16 percent to PHP788 million due to weaker wholesale electricity prices.
Expansion continues through projects under Greenlight Renewables Holdings Inc., including new solar developments in Leyte, Zambales, Subic and Bataan, as the group pivots toward value-focused growth and battery storage integration.
