Global Ferronickel profit rockets 170%
Global Ferronickel Holdings Inc. said its net income soared by almost 170 percent in the first quarter of 2026 due to the increased shipments and higher nickel ore prices.
The listed nickel ore producer said net income attributable to shareholders surged by 169.6 percent to P478 million. Revenues climbed by 36.4 percent to P1.64 billion despite incurring higher expenses.
During the period, average realized nickel ore price stood at $50.57 per wet metric ton (WMT), up 23 percent.
This was “underpinned by tighter nickel ore supply amid quota restrictions in Indonesia, and heightened supply issues linked to geopolitical tensions in the Middle East,” the listed company said.
Global Ferronickel’s shipments increased by 8.9 percent to 550,632 WMT, sold exclusively to customers in China. The firm’s sales mix was 80 percent medium-grade and 20 percent low-grade nickel ore.
“Our Palawan operations delivered a strong start to the year, supported by continued operational optimization, enhanced mine planning, and disciplined execution across our operations,” Global Ferronickel president Dante Bravo said.
Global Ferronickel delivered higher earnings even as costs of sales rose by 2.2 percent to P544.2 million, as a result of higher production and shipment volumes.
Meanwhile, earnings per share improved to P0.0935 from P0.0346.
“With the start of the Surigao mining season in the second quarter of 2026, we expect to further build on the strong momentum started by our Palawan operations and accelerate overall performance for the year,” Bravo said.
