Half Year 2023 Nickel Industries Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Nickel Industries Limited 2022 Half Year Results Call. (Operator Instructions)
I would now like to hand the conference over to Mr. Justin Werner, Managing Director. Please go ahead.
Thank you, and welcome, everyone, to the first half results call for Nickel Industries. If I could just ask the webcast operator to move the presentation to Page 2. Sorry, the next slide. Thank you.
So it was a record half operationally and financially. So pleased to report profit USD 161 million, operating profit USD 140 million, profit after tax of USD 118.4 million. Really a continuation from last year, continued strong conversion of EBITDA to free cash flow, and that's really because we pay no tax currently, and we have very little sustaining CapEx. In terms of the tax breaks that we've received during the half, both Angel Nickel and Oracle Nickel received tax holidays, 10 years in duration with a further 2 years post the 10 years at 50% of the
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