Global Ferronickel Holdings Inc. (GFNI), one of the country’s top nickel ore exporters, reported a 203.7-percent increase in net income attributable to shareholders, rising to P1.527 billion in the first nine months of 2025 from P502.6 million in the same period last year.
The significant jump in profitability was driven by stronger average realized nickel ore prices and disciplined cost management, which offset a decrease in shipment volumes.
Total revenues rose 16.6 percent to P6.684 billion, buoyed by robust demand and tighter supply conditions in the nickel market. Meanwhile, costs and expenses fell 6 percent to P4.8 billion, reflecting the company’s implementation of a disciplined approach to productivity and expense control.
GFNI president Dante Bravo said the strong nine-month results demonstrate the effectiveness of disciplined cost management operational flexibility and strategic foresight.
“We are well-positioned to sustain profitability through operational excellence and sound financial stewardship,” Bravo said.
The mining firm shipped 3.664 million wet metric tons (WMT) of nickel ore during the period, a drop of 14.2 percent from 4.269 million WMT in 2024, as prolonged rains limited operations at its Palawan and Surigao sites.
