Nickel Asia Corp. (NAC) posted an 88 percent increase in attributable net income to ₱2.10 billion in the first half of 2025, up from ₱1.12 billion a year earlier, driven by a sharp rise in average ore prices, the company told the Philippine Stock Exchange.
Despite a 4 percent year-on-year drop in nickel ore sales volume to 7.85 million wet metric tons (WMT) due to unfavorable weather conditions, NAC revenue from saprolite and limonite ore surged 36 percent to ₱10.59 billion from ₱7.79 billion. The average realized ore price jumped 44 percent to US$23.87 per WMT from US$16.60.
President and CEO Martin Antonio Zamora said the company expects stronger performance in the second half of the year, citing tighter global nickel supply, stable demand from Indonesia, improving weather, and increased shipments from its Manicani operations.
Zamora also highlighted NAC’s ongoing diversification into clean energy through its subsidiary Emerging Power Inc. (EPI), with the upcoming launch of the Leyte Phase 1 solar project expected to bring EPI’s total installed capacity to around 300 MW by year-end.
“With nickel export prices trending upward, operations at Manicani gaining momentum, and the Leyte solar project nearing completion, we are laying a strong foundation for a meaningful uplift in performance this year,” Zamora said.
