The Nickel Industries Ltd (ASX: NIC) share price is pushing higher today after the company delivered a sharp improvement in profit and significant growth in revenue for the half-year ended 30 June 2026.
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What did Nickel Industries report?
- Sales revenue increased 13% to US$938.4 million from US$829.7 million a year ago
- Adjusted EBITDA rose 46% to US$247.6 million
- Net profit after tax surged 191% to US$74.3 million
- Profit attributable to shareholders soared 366% to US$52.5 million
- No interim dividend declared
- Net tangible assets per share steady at US$0.565
What else do investors need to know?
The company produced a total of 62,019 tonnes of finished nickel metal across its rotary-kiln electric furnace (RKEF) and high-pressure acid leach (HPAL) operations. It mined over 8.1 million tonnes of nickel ore at the Hengjaya Mine, including both saprolite and limonite.
During the half, Nickel Industries secured important project milestones, including completion of the final equity acquisition in the Excelsior Nickel Cobalt (ENC) project, increasing its stake to 46%. The business also announced investments in new Indonesian HPAL projects, including Teluk Metal Industry (TMI) and Chengsheng New Energy (CNE), aimed at supporting future growth in the electric vehicle battery market.
Safety also remained a highlight, with no lost time injuries recorded during the period, and the Hengjaya Mine achieving a fourth consecutive Green PROPER award for environmental compliance.
What's next for Nickel Industries?
Nickel Industries plans to capitalise on growing demand for nickel in the global battery sector by ramping up production from both RKEF and new HPAL projects. Commissioning at the ENC HPAL plant has commenced, with maiden mixed hydroxide precipitate (MHP) production delivered in July and first nickel cathode produced in August.
Further investments in TMI and CNE HPAL projects are expected to underpin long-term growth, with supply agreements in place to support downstream processing and product diversification. The company is also advancing its Indonesian mine resource base, while keeping a focus on operating safety and sustainability.
Nickel Industries share price snapshot
The Nickel Industries share price is outperforming the S&P/ASX 200 index (ASX: XJO) on a 12-month basis with a gain of over 20%.
