Nickel Industries Limited (ASX:NIC) Announces 2024 Annual Results and Strategic Acquisitions
Financial Performance
Nickel Industries Limited reported sales revenue of $1.74 billion for 2024, down from $1.88 billion in the previous year. Gross profit decreased to $186.7 million from $338 million. The company recorded a loss after tax of $189.8 million, compared to a profit of $176.2 million in 2023. Adjusted EBITDA fell to $296.8 million from $406.7 million.
Operational Highlights
The Group achieved a record production of 135,602 tonnes of finished nickel metal and mined a record 19 million tonnes of saprolite and limonite ore at the Hengjaya Mine.
Strategic Acquisitions
Nickel Industries acquired an additional 30.25% interest in the Excelsior Nickel Cobalt HPAL project and a 51% interest in the Siduarsi Project, enhancing its market position.
Safety and Sustainability
The company maintained strong safety metrics with a Lost Time Injury Frequency Rate of 0.11. Sustainability initiatives include expanding its EV haul truck fleet and establishing a university scholarship program for Indigenous students.
Dividends
Nickel Industries declared a final dividend of 1.5 cents per share for 2024, demonstrating its commitment to shareholder returns.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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