Nickel Asia Corporation, the Philippines’ largest producer of lateritic nickel ore, announced its financial and operating results for the full year 2025, reporting a milestone performance characterized by a triple-digit increase in profitability.
Driven by a robust uplift in global saprolite ore export prices, NAC’s attributable net income (excluding minority interest) surged by 312%, reaching ₱6.27 billion, up from ₱1.52 billion in 2024. The company’s Earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw significant growth, rising 56% to ₱13.75 billion compared to ₱8.79 billion in the previous year.
The company’s strong financial standing was supported by increased sales volume and favorable pricing across its mining portfolio.
| Metric | 2025 Result | 2024 Result | % Change |
| Attributable Net Income | ₱6.27 Billion | ₱1.52 Billion | +312% |
| EBITDA | ₱13.75 Billion | ₱8.79 Billion | +56% |
| Total Ore Revenues | ₱27.25 Billion | ₱19.56 Billion | +39% |
| Total Ore Sold (WMT) | 18.56 Million | 17.02 Million | +9% |
| Weighted Average Ore Price | $25.66 / WMT | $20.04 / WMT | +28% |
NAC capitalized on high global demand, with saprolite and limonite ore exports totaling 10.93 million wet metric tons (WMT), a 13% increase over 2024. More notably, export prices saw a 32% improvement, averaging $36.14 per WMT compared to $27.34 in the prior year.
The company maintained steady supply chains to domestic processing plants. Deliveries to the Coral Bay and Taganito High-Pressure Acid Leach (HPAL) plants reached 7.64 million WMT.
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Average Realized Price: $6.86 per pound of payable nickel.
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Payability: Average nickel payability improved to 9.87%, up from 9% in 2024.
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WMT Equivalent: These deliveries were valued at $10.66 per WMT, a slight increase from $10.50 in the previous year.
The positive results were achieved despite a marginal strengthening of the Philippine Peso. Operating mines realized an average exchange rate of ₱57.22 per US Dollar, compared to ₱57.36 in 2024.
