PT Vale Indonesia Tbk (INCO) Earnings Call Transcripts

PT Vale Indonesia Tbk's Latest Earnings Call - Q1 FY2026

PT Vale Indonesia reported strong Q1 2026 results with revenue of $252.7 million and net profit of $43.6 million, an 85% increase YoY. EBITDA rose 29% QoQ to $80.1 million, driven by a favorable pricing environment and maintained cash costs. The company is on track to meet its full-year production target of 67,645 tons of nickel matte. Management highlighted the commencement of operations at new mining sites Bahodopi and Pomalaa, signaling potential revenue growth and diversification. Guidance was maintained, with a focus on achieving operational targets and managing cash costs.

Reported metrics

Guidance from management

Management maintained guidance, emphasizing confidence in achieving the full-year production target of 67,645 tons of nickel matte and managing cash costs effectively.

What management said

Okay. Thank you -- thank you, everyone. That was very inisghtful presentation. Okay. So I'm going to open the first Q&A session. [Operator Instructions] So we have the first questions, taken this is -- so question will be any opinion regarding the windfall tax and the newly proposed nickel priority, right.

Thank you, Barci. That is very fresh from Jonas. He just finished the meeting with the government on that one. Okay. So next one, there's a follow-up question from -- I think this 1 coming from Taspana from red. Okay. So any color on potential copper and pricing seeing regulation refurbing led to the old scenes given verativ HR margins.

What analysts pressed on

Analysts expressed concerns about the impact of new royalty regulations on costs and potential changes in nickel ore pricing. Questions were raised about the company's strategy to mitigate these impacts.

Main topics on the call

• Nickel Matte Production — PT Vale delivered 13,620 metric tons of nickel matte in Q1 2026, despite a furnace rebuild and initial delays. Management is confident in meeting the full-year target of 67,645 tons.
• Financial Performance — Revenue was $252.7 million, slightly lower QoQ due to reduced sales volume, but net profit increased by 85% to $43.6 million, supported by a 15% increase in average selling price.
• New Mining Operations — Operations commenced at Bahodopi and Pomalaa, marking diversification and potential growth. Pomalaa began operations in January 2026.
• Sustainability-linked Loan — PT Vale secured a $750 million sustainability-linked loan to support expansion, reflecting its ESG commitment.

Read the full PT Vale Indonesia Tbk transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 15 PT Vale Indonesia Tbk earnings call transcripts on record, spanning February 24, 2020 to May 8, 2026. Based on this history, PT Vale Indonesia Tbk reports semi-annually. The most recent call on file is dated May 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

INCO

Exchange

IDX

Country

ID

Sector

Materials

Industry

Metals and Mining

Calls on record

15

First call

February 24, 2020

Most recent

May 8, 2026

Reporting cadence

semi-annually