THE nickel mining COMPANY, PT Ifishdeco Tbk (Ifishdeco or the Company, IDX:IFSH) will distribute cash dividends for the 2023 financial year amounting to IDR 63.378 billion or the equivalent of IDR 29.83 per share. This decision was agreed at the Company’s Annual General Meeting of Shareholders (AGMS) in Jakarta, Thursday (28/3).
The dividend ratio reaches 30% of the profit attributable to owners of the IFSH parent entity reaching IDR 211.26 billion (Rp 109.63 per share) in 2023. Throughout last year, profit attributable to owners of the IFSH parent entity grew 6.06% if compared to IDR 199.18 billion (IDR 93.74 per share) in 2022.
In 2023, IFSH consolidated sales of IDR 1.43 trillion, up 52.6% from IDR 939.03 billion in 2022. The company managed to sell 2.29 million metric tons of nickel ore last year. This achievement is around 85% of the Company’s target of 2.7 million metric tons of nickel in 2023.
The increase in sales was accompanied by an increase in cost of goods sold which was higher than sales, namely by 96.05% to IDR 745.21 billion, from IDR 380.12 billion in 2022. However, IFSH’s gross profit grew 23.3% to IDR 688.01 billion in 2023. compared to IDR 558.91 billion in 2022.
On the other hand, IFSH sales expenses fell 6.63%, from IDR 312.04 billion to IDR 291.32 billion in 2023. General and administrative expenses increased 18.43% to IDR 104.48 billion, from IDR 88.21 billion in 2022. However , the Company’s operating profit jumped 84.18% to IDR 292.20 billion, compared to IDR 158.64 billion in 2022.
IFSH’s total assets as of December 2023 are IDR 1.07 trillion. The Company’s total liabilities and equity as of December 2023 are IDR 286.59 billion and IDR 785.88 billion, respectively.
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IFSH Director, Agus Prasetyono, explained that Ifishdeco nickel ore production is targeted at 2,202,975 tonnes in 2024. “The target for Ifishdeco nickel ore production is to increase to 2,247,035 tonnes in 2025, and is targeted to grow to a maximum of 2,291,975 tonnes in 2026,” he was quoted as saying. from the official statement, Thursday (28/3).
The Ifishdeco concession land is located in Tinanggea, South Konawe Regency, Southeast Sulawesi. The total land area owned by Ifishdeco reaches 2,580 hectares and the Operation/Production IUP is 800 hectares.
The company estimates that world demand for nickel will continue to increase until this year. This is in line with the high demand for electric vehicles in the world today. The company sees the potential for increasing demand for nickel opportunity for long-term business sustainability. The company also plans to expand its business.
“The Company’s corporate action plan is not only supported by the prospect of the nickel industry in the country which is still bright, this action is also in line with demand for nickel products which remains high. Another factor that is driving the Company’s expansion is its financial performance which will grow positively until 2023,” he said.
New stock
IFISHDECO plans to issue new shares through Capital Increase with Pre-emptive Rights (PMHMETD) or rights issue.
The Director of Ifishdeco, Muhammad Ishaq, revealed that through this information disclosure the Company intends to convey to shareholders that the Company will implement PMHMETD by issuing a maximum of 425,000,000 new shares or 20% of the total outstanding shares with a nominal value of IDR 100 per new share. .
“This PMHMETD plan will require approval from the Company’s shareholders at the EGMS which will be held on April 30 2024. The provisions relating to PMHMETD, including the PMHMETD exercise price and the final number of shares will be determined later,” he said.
Muhammad explained that the PMHMETD plan carried out by the Company is expected to strengthen the capital structure in order to develop the Company’s business by inviting potential new investors, both local and foreign, to participate in capital investment in the Company, thereby providing added value to the Company’s performance.
He added that the Company intends to use all PMHMETD proceeds, after deducting emission costs, for working capital and business development purposes for the Company. “The hope is that this PMHMETD can strengthen the Company’s capital structure,” he concluded.
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