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February 09, 2016 10:21 AM ET

Metals and Mining

Company Overview of Nickel Asia Corporation

Company Overview

Nickel Asia Corporation engages in the mining and exploration of nickel saprolite and limonite ore, and limestone. The company operates four lateritic nickel mines, including Rio Tuba, Taganito, Cagdianao, and Taganaan mines, which are located in the southern half of the Philippines. It also has five properties in various exploration stages for nickel. The company exports its saprolite and limonite ore to customers for the production of ferronickel and nickel pig iron in Japan and China. In addition, it is involved in the chartering out of landing craft transport; and provision of marine services. The company was founded in 1977 and is based in Taguig City, the Philippines.

NAC Tower

28th Floor

32nd Street

Bonifacio Global City

Taguig City,  

Philippines

Founded in 1977

1,484 Employees

Phone:

63 2 892 6669

Fax:

63 2 892 5344

Key Executives for Nickel Asia Corporation

Nickel Asia Corporation does not have any Key Executives recorded.

Nickel Asia Corporation Key Developments

Nickel Asia Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Nickel Asia Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported operating revenue of PHP 5,135,276,000 against PHP 11,807,742,000 a year ago. Net Income before tax was PHP 2,005,185,000 against PHP 8,483,918,000 a year ago. Net income after tax was PHP 1,301,321,000 against PHP 6,188,161,000 a year ago. Net income attributable to parent equity holder was PHP 1,001,729,000 against PHP 5,263,788,000 a year ago. Basic and diluted EPS was PHP 0.13 against PHP 0.66 a year ago. Net cash flows generated from operating activities was PHP 2,162,086,000 against PHP 8,269,529,000 a year ago. Basically, the decrease in cash from operations was due to lower sales revenue in the current period as a result of low nickel prices. For the year to date, the company reported operating revenue of PHP 13,106,677,000 against PHP 21,146,032,000 a year ago. Net Income before tax was PHP 5,023,046,000 against PHP 14,049,796,000 a year ago. Net income after tax was PHP 3,475,615,000 against PHP 10,220,543,000 a year ago. Net income attributable to parent equity holder was PHP 2,492,110,000 against PHP 7,977,654,000 a year ago. Basic and diluted EPS was PHP 0.33 against PHP 1.05 a year ago. Net cash flows generated from operating activities was PHP 4,133,808,000 against PHP 10,696,638,000 a year ago. Capital expenditure was PHP 1,631,319,000 against PHP 1,280,941,000 a year ago. Book Value per Share was PHP 3.42 against PHP 3.58 a year ago.

Nickel Asia Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Nickel Asia Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of PHP 4,850,673,000 compared to PHP 7,640,114,000 a year ago. Income before income taxes was PHP 1,595,003,000 compared to PHP 5,091,974,000 a year ago. Net income attributable to equity holders of the parent company was PHP 814,614,000 or PHP 0.11 per basic and diluted share compared to PHP 2,536,728,000 or PHP 0.33 per basic and diluted share a year ago. Net cash flows from operating activities were PHP 1,721,326,000 compared to PHP 2,186,720,000 a year ago. For the period, the company reported revenues of PHP 7,971,401,000 compared to PHP 9,338,290,000 a year ago. Decrease in revenue was due to the continuing decline in nickel prices. Income before income taxes was PHP 3,017,861,000 compared to PHP 5,565,878,000 a year ago. Net income attributable to equity holders of the parent company was PHP 1,490,381,000 or PHP 0.20 per diluted share compared to PHP 2,713,866,000 or PHP 0.36 per diluted share a year ago. Net cash flows from operating activities were PHP 2,060,586,000 compared to PHP 2,472,126,000 a year ago. Acquisitions of property and equipment were PHP 943,685,000 compared to PHP 796,403,000 a year ago. Acquisitions of AFS financial assets were PHP 8,987,507,000 compared to PHP 271,770,000 a year ago. EBITDA was PHP 5.83 billion compared to PHP 1.83 billion a year ago. The jump in earnings during the first half was mainly due to a combination of higher shipment volume and nickel prices.

Nickel Asia Corporation Provides Production Guidance for the Full Year of 2015

Nickel Asia Corporation provided production guidance for the full year of 2015. The company expects to achieve ore shipment volume of over 19 million wet metric tones (WMT) in 2015 compared to 17.9 million WMT in 2014.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 8, 2015
NiHAO Mineral Resources International, Inc.
Merger/Acquisition
April 8, 2015
Geogen Corporation
 

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