INCO — A 8% qoq higher revenue despite lower production volume

INCO — A 8% qoq higher revenue despite lower production volume Vale Indonesia (INCO) announced its 2Q24 results with a 9% qoq decrease in production volume. Yet, the 17,505 tons of nickel matte that were sold, had generated USD248.8 mn (+8% qoq) in revenue, with the average realized nickel price that rose 12% qoq to USD14,214 per ton. INCO also achieved a positive EBITDA of USD72.4 mn (+38% qoq) and reported a net profit of USD31.1 mn. Moving forward, INCO will continue to focus on productivity, cost efficiency, and strategic initiatives for long-term success. (Source: Company)