Nickel Asia Corp. · PSE:NIKL
Nickel Asia — 9M-23 Earnings Presentation
17 slides from Nickel Asia's earnings presentation, Nov 13, 2023
Slide 1: Nickel Asia Corp. 9M-23 Earnings
NICKEL ASIA CORP. 9M-23 Earnings 11/13/2023
Slide 2: NIKL and EPI 9M-23 Highlights
2 NIKL and EPI 9M-23 HIGHLIGHTS NICKEL MINING RENEWABLE ENERGY (EMERGING POWER INC.) ▪ Revenues from sale of ore decreased by 15% YoY to P16.8 billion ▪ Jobin-SQM Inc. (JSI) now operating a total capacity of 100- due to lower nickel ore prices which weighed down the positive MW from 62 MW YoY; gener
Slide 3: Financial Highlights (9M-23 vs 9M-22)
3 FINANCIAL HIGHLIGHTS (9M-23 VS 9M-22) Revenue (PHP bn) EBITDA (PHP bn) Net Income (PHP bn) Sale of ore 14.4 14.3 Services and others 27.4 28.0 12.3 21.8 21.5 19.3 9.5 17.9 8.5 7.8 7.9 6.5 6.9 4.1 3.6 2.7 2019 2020 2021 2022 9M-23 9M-22 2019 2020 2021 2022 9M-23 9M-22 2019 2020 2021 2022 9M-23 9M-2
Slide 4: Special Cash Dividend Declaration
4 SPECIAL CASH DIVIDEND DECLARATION Per Share Total Dividend % of 2022 Net in Billion Php Income Cash Dividend Paid in Regular Dividend ₱0.17 ₱2.379 30.0% April 2023 Proposed Special Cash Dividend for ₱0.07 ₱1.000 12.6% November 9, 2023 Total Cash Dividend for 2023 ₱0.24 ₱3.379 42.6% Declaration Dat
Slide 5: Shipments and Revenues by Ore Type
5 SHIPMENTS AND REVENUES BY ORE TYPE NINE-MONTH PERIOD COMPARISON SALES VOLUME AVERAGE ORE SALES PRICES REVENUE (in millions WMT) (in US$/WMT) (in PHP bn) -26% YoY change 29.2 19.9 -15% YoY change 5.72 Flat YoY Ore Exports 16.8 5.76 38.9 5.7 Limo HPAL 5.0 -13% YoY change +10% YoY -17% YoY 14.2 7.30
Slide 6: Revenue – Variance Analysis
6 REVENUE – VARIANCE ANALYSIS NINE-MONTH PERIOD COMPARISON SALES VOLUME (in millions WMT) 9M-23 +5% YoY change 13.01 9M-22 12.43 SALES PRICE (in millions WMT) 9M-23 -22% YoY 23.24 9M-22 29.86 FX Rate (PHP/USD) 9M-23 +2.6% YoY change 55.64 9M-22 54.24
Slide 7: Cost & Expenses – Variance Analysis
7 COST & EXPENSES – VARIANCE ANALYSIS NINE-MONTH PERIOD COMPARISON SALES VOLUME (in millions WMT) 9M-23 +5% YoY change 13.01 9M-22 12.43 FUEL PRICES (P/liter) 1Q'23 +3% YoY change 52.5 1Q'22 50.9
Slide 8: Net Income – Variance Analysis
8 NET INCOME – VARIANCE ANALYSIS NINE-MONTH PERIOD COMPARISON NET INCOME (in Peso billions) -47% YoY ▪ Reported attributable net income at P3.6 billion, change in Mining down 47% YoY due to lower ore prices in this operation year’s 2Q to 3Q, impacting our ore revenues. earnings due to ▪ HPAL operati
Slide 9: Investment in HPAL Equity Earnings
9 INVESTMENT IN HPAL EQUITY EARNINGS EQUITY EARNINGS, in PHP millions (9M-23 VS 9M-22 comparison) 1,200 1,024 1,000 800 • The reduced Nickel and Cobalt prices had impacted Equity 600 earnings from investments in -381 the HPAL operations 767 400 257 61 200 0 -442 -200 -400 -600 9M-22 9M-23 THPAL CBNC
Slide 10: JSI Financial Highlights (9M'2022 to 9M'2023)
10 JSI FINANCIAL HIGHLIGHTS (9M’2022 to 9M’2023) Generation (in MWh) Revenues (in PHP millions) EBITDA (in PHP millions) 106,032 528.89 442.40 77,981 393.67 331.09 9M’22 9M’23 9M’22 9M’23 9M’22 9M’23 9M’22 9M’23 9M’22 9M’23 9M’22 9M’23 Generation (in MWh) 77,981 106,032 36% Presently operating at 10
Slide 11: Development Pipeline
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Slide 12: Mining Development Pipeline
12 MINING DEVELOPMENT PIPELINE BULANJAO MANICANI 70M WMT 47M WMT Resources as of 12/31/2022 @1.61% Ni @1.55% Ni 22% of 38% of Percent of MPSA Area Drilled 3,553 hectares 1,165 hectares Target Annual Production 4M+ WMT 2M+ WMT 35% Saprolite 50% Saprolite Target Annual Product Mix 65% Limonite 50% Lim
Slide 13: Solar Projects Status in 2023
13 SOLAR PROJECTS STATUS IN 2023 JSI Subic Cawag Leyte Project Operating Capacity 100 MW Capacity Under Construction 72 MW 145 MW 240 MW or For Construction Total Attributable MW to EPI 89 MW 145 MW 144 MW Ongoing, Pre-development Completed on Jan 2023 Completed in June 2023 Target completion: 4Q202
Slide 14: EPI's Geothermal Pipeline
14 EPI’S GEOTHERMAL PIPELINE BILIRAN (BGI) MINDORO (MGCP) Initially 50 MW (out P50 of 200 Capacity 20 MW (P90 of 20 MW) MW+) Attributable MW to EPI 22MW 20 MW 100% Complete with turbines Ongoing installed, awaiting ERC permits Proof of Concept Pilot Project Target Completion: and target to energize
Slide 15: EPI's Projected Capacity Buildup of Solar, Wind, and Geothermal Generation Assets
15 EPI’S PROJECTED CAPACITY BUILDUP OF SOLAR, WIND, AND GEOTHERMAL GENERATION ASSETS • Load profile being developed to serve solar peak and night peak hours. • PSAs to be against portfolio (not single plant). • Does not yet include NAC- related projects.
Slide 16: Sustainability
Slide 17: Awards and Recognitions
FinanceAsia ASIA’S BEST COMPANIES FINANCEASIA ASIA'S BEST COMPANIES NAC received a Gold citation and was one of only four companies in the Basic Materials Company sector recognized this year by FinanceAsia, the ASIAMONEY ASIAMONEY NAC has been recognized as the MOST OUTSTANDING Company in the Philip