PT Vale Indonesia Tbk recorded a net profit of US$76.06 million in 2025. Assuming an exchange rate of Rp16,917 per US dollar, this profit is equivalent to Rp1.28 trillion.
The profit surged by 31.68% compared to the same period in the previous year (year-on-year/yoy).
The increase in profit was in line with a 4.18% (yoy) rise in revenue, which reached US$990.19 million in 2025, or approximately Rp16.75 trillion.
According to Katadata, the revenue of the company, listed under the ticker INCO, was supported by an increase in nickel matte payability levels that came into effect in July last year, as well as higher shipment volumes.
On a quarterly basis, Vale recorded revenue of US$284.8 million, up 2% compared to the previous quarter, driven by a moderate recovery in nickel prices.
Throughout 2025, Vale reported an average realized price of nickel matte at US$12,157 per ton, down 7% from US$13,086 per ton in the previous year.
Meanwhile, Vale Indonesia’s nickel in matte production reached 72,027 metric tons (t), an increase compared to 2024 production of 71,311 t. On a quarterly basis, the company produced 17,052 t of nickel matte in the fourth quarter of 2025. This figure declined by around 12% compared to the third quarter of 2025, which reached 19,391 t.
The decline was mainly due to the rebuilding of Furnace 3, which began in November and is targeted for completion in May 2026. However, compared to the same period in the previous year—namely the fourth quarter of 2024, with production of 18,528 t—the fourth quarter 2025 figure was also slightly lower.
In addition to producing nickel matte, Vale has continued to expand its commercial portfolio through sales of saprolite nickel ore from the Pomalaa and Bahodopi blocks.
Throughout 2025, the company recorded saprolite ore sales of 2,316,023 wet metric tons (wmt), with the highest monthly sales volume occurring in October at 516,167 wmt.
“Overall, the Bahodopi Block contributed the most to saprolite ore sales throughout the year,” management stated in its release on Monday (March 16, 2025).