PC1 –Earnings Results Q3/2025: EPC segment leads the recovery
• In Q3/2025, revenue and net profit after tax – minority interest (NPAT–MI) of PC1 increased 47% and 89% YoY, equivalent to +52% / +200% vs. analyst forecasts, and completed 60% / 84% of the Company’s full-year plan.• Revenue from the EPC segment (power construction and industrial zone infrastructure) increased 146% YoY, supported by a strong project backlog. The segment’s gross margin expanded by 5 pptss YoY, contributing to the Company’s overall gross margin of 21% (-1% YoY).
• Power generation output increased 4% YoY, supporting a 7% YoY increase in electricity revenue, driven by extended La-Niña phase that improved rainfall and wind speeds at power plants.
• Nickel ore concentrate revenue declined 21% YoY, though gross profit increased 20% YoY as operations stabilized. However, lower selling prices may reduce full-year revenue for this segment.
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