The company’s earnings before interest, taxes, depreciation, and amortization (Ebitda) rose to P4.59 billion, up from P2.96 billion a year ago, despite a 4 percent dip in total ore volumes sold due to bad weather.
Management’s view
“We expect the recovery in nickel ore prices to continue, supported by tight supply and steady demand from Indonesia, and the ongoing implementation of mining policies in the country,” said NAC president and CEO Martin Antonio G. Zamora.
“With improving weather conditions at our mine sites and the ramp-up of shipments from Manicani, we are well positioned to deliver strong results in the second half of the year,” he added.
Solar business gains traction
In renewable energy, NAC’s subsidiary Jobin SQM saw generation grow 8 percent year-on-year to 127,030 megawatt hours.
Despite a 12 percent decline in Ebitda due to lower WESM prices, its Leyte Phase 1 solar project is on track for energization by year-end, adding 120 MWp in capacity through NAC’s joint venture with Shell.
Other solar projects in Zambales, Subic, and Bataan are also advancing, with construction timelines set between late 2025 and 2026.
—Edited by Miguel R. Camus
