Nickel Industries Limited · ASX:NIC
Nickel Industries — FY2024 Earnings Presentation
18 slides from Nickel Industries's earnings presentation, Feb 24, 2025
Slide 1: 2024 Annual Results Presentation
Nickel Industries Limited (ASX:NIC) 24 February 2025 For personal use only 2024 Annual Results Presentation
Slide 2: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Nickel Industries Limited (ABN 44 127 510 589) (‘NIC’). The information contained in this presentation is for information purposes only and has been prepared for use in conjunction with a verbal presentation and should be read i
Slide 3: Full year 2024 highlights
Full year 2024 highlights 3 Group financials Corporate updates For personal use only ▪ Adjusted1 EBITDA – US$296.8M ▪ Acquisition payments of US$696M to increase ENC HPAL ▪ Gross Profit – US$186.7M ownership to 44% (increasing to 55%) ▪ Loss after tax – US$189.8M including impairment of US$205M ▪ De
Slide 4: Safety and ESG achievements
Safety and ESG achievements 1 2024 ESG achievements and ratings For personal use only HNC CO2 6.9tCO2e/t of nickel - one of the lowest Top ESG rating for Indonesian Metals and Mining Q1 MSCI intensity carbon emitting nickel processors globally company Funding University scholarship program for ESG s
Slide 5: Profit & Loss
Profit & Loss Units 2023 2024 External drivers For personal use only ▪ SMM NPI price down 14% from 2023 ▪ LME nickel price down 21% from 2023 Sales revenue US$m 1,880.1 1,744.5 ▪ RKAB license renewal delays and 43% increase in rainfall negatively impacting grade and production volumes Gross profit U
Slide 6: Balance Sheet
Balance Sheet For personal use only Units 2023 2024 ▪ Strong balance sheet maintained despite margin compression across 2024 Current assets US$m 1,344.7 743.5 ▪ As at 31 December 2024: – Cash U$222.5M – Debt US$1.05B Total assets US$m 4,071.4 3,896.2 – Net debt US$832.1M ▪ Debt comprises: Current li
Slide 7: Profit and Adjusted EBITDA reconciliations
Profit and Adjusted EBITDA reconciliations 2024 Adjusted EBITDA breakdown 2024 Profit to Adjusted EBITDA bridge For personal use only 1) HPAL includes HNC and TC equity accounted profit of $25.3m and $6.6m FX related loss from ENC equity accounted profit 2) Mining includes $100.9m from Hengjaya Mine
Slide 8: RKEF and HPAL processing operations resilient in a challenging price environment
RKEF and HPAL processing operations resilient in a challenging price environment For personal use only Annual Adjusted 224.9 298.7 348.6 212.6 EBITDA (US$m) 1) 2024 Adjusted EBITDA includes RKEFs of $187.2m, HNC and TC equity accounted profit of $25.3m 2) 2023 Adjusted EBITDA includes RKEFs of $343.
Slide 9: HNC HPAL 2024 summary
HNC HPAL 2024 summary HNC nickel and cobalt production in 2024 HNC 2024 financial snapshot For personal use only 25,000 160 16,000 23,088 23,265 22,991 14,211 21,753 13,624 13,583 140 12,628 14,000 144 20,000 120 12,000 100 110 108 10,000 15,000 104 Tonnes US$m US$/t 80 8,000 10,000 60 7,328 6,972 7
Slide 10: ENC construction progress
ENC construction progress For personal use only ▪ During the year, there was significant progress at ENC with all three autoclaves and the absorption tower now on site. The circular pads and mounts have been prepared to install the thickeners, reactors and storage tanks in the HPAL plant during the
Slide 11: Another record year of production at Hengjaya Mine
Another record year of production at Hengjaya Mine Units 2023 2024 Adjusted EBITDA – 2021 to 2024 For personal use only Saprolite mined wmt 3,832,833 5,017,222 120 100 Limonite mined wmt 9,568,456 14,010,958 101 80 88 US$m Nickel ore mined wmt 13,401,289 19,028,180 60 40 54 Overburden mined BCM 1,33
Slide 12: Sampala Project acquisition
Sampala Project acquisition For personal use only ▪ Initial JORC-compliant Mineral Resource of 187 million 1 – 1.2% nickel and 0.09% cobalt (containing 2.3 million tonnes of nickel and 0.2 million tonnes of cobalt) ▪ Initial Resource covering just 900ha of a total 4,700ha of mapped laterite ▪ Blende
Slide 13: Nickel Industries resources portfolio
Nickel Industries resources portfolio Sampala and Siduarsi projects increase NIC total contained nickel metal resources to 6.4 million tonnes For personal use only 3.3% 3.0% Bubble size represents contained nickel metal in million tonnes (Resource 2.7% tonnage multiplied by nickel grade) 2.4% 2.1% N
Slide 14: Corporate highlights and 2025 targets
Corporate highlights and 2025 targets 2024 corporate highlights 2025 targets For personal use only ▪ Definitive agreement to acquire 60% of the Sampala Project ▪ Commission ENC cathode and sulphate plants in Q3 (MHP in Q4) ▪ Successful syndication of US$400M Indonesian Bank Loan Facility (successful
Slide 15: Appendix
For personal use only Appendix
Slide 16: Peer comparison information
Peer comparison information Operation Measured (Mt) Indicated (Mt) Inferred (Mt) Resources (Mt) Resources (Ni %) Nickel Metal (Mt) Standard Weda Bay 245 719 541 1,504 1.2% 18.5 JORC For personal use only SCM 11 280 849 1,139 1.2% 13.9 JORC Halmahera na na na 466 1.5% 7.0 Not stated Nusa Karya Arindo
Slide 17: Competent person statement
Competent person statement The information in this presentation that relates to Mineral Exploration and Mineral Resources is based on data compiled by Daniel Madre of PT For personal use only Danmar Explorindo. Mr Madre is a member of the Australian Institute of Mining and Metallurgy (AusIMM) and ha
Slide 18: For more information, please contact
Nickel Industries Limited (ASX:NIC) For personal use only For more information, please contact: Justin Werner Managing Director jwerner@nickelindustries.com +61 2 9300 3311 Cameron Peacock Investor Relations and Business Development cpeacock@nickelindustries.com +61 439 908 732 www.nickelindustries.