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Harita Nickel books Rp 5.61t in profit in 2023 despite headwinds
Harita Nickel’s performance growth was coupled with a notable increase in the company’s total assets.
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This handout photo taken and released by PT Trimegah Bangun Persada on April 12, 2023, shows the company's president director Roy Arman Arfandy (right) and members of the board of directors looking at a screen featuring the shares of Harita Group's nickel subsidiary on its Initial Public Offering (IPO) at the Indonesia Stock Exchange (IDX) in Jakarta. (AFP/PT Trimegah Bangun Persada)
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T Trimegah Bangun Persada, also known as Harita Nickel, booked a net profit of Rp 5.61 trillion (US$352.74 million) in 2023, marking a 20.4 percent year-on-year increase. The growth was mainly attributed to the company’s revenue performance.
Harita Nickel president director Roy Arman Arfandy said the company managed to record strong and steady growth last year despite facing headwinds from falling nickel prices and macroeconomic uncertainty, driven by increased production and operational efficiency.
According to Roy, one of the employed strategies was to encourage innovation and improve operational efficiency, especially in the integrated mining and production process on Obi Island in South Halmahera regency, North Maluku.
"Harita Nickel's commitment to operational excellence and innovation plays an important role in optimizing production processes, reducing costs and spurring growth," he said in a press statement on Tuesday, as quoted by Katadata.
According to Harita Nickel's 2023 full-year financial statement released on Monday, the company’s revenue also soared 149 percent to Rp 23.85 trillion, with a nickel processing revenue of Rp 20.76 trillion and nickel mining revenue of Rp 3 trillion, marking 149 percent and 26 percent growth, respectively.
Additionally, Harita Nickel's gross profit also rose from Rp 4.67 trillion in 2022 to Rp 8.27 trillion while operational profit soared from Rp 3.98 trillion to Rp 7 trillion.
However, the company’s cost of goods sold surged from Rp 4.89 trillion to Rp 15.58 trillion.
