Thursday, July 24, 2014
PT United Tractors Tbk (“UT”) today announced the Company’s performance for the first half 2014 that showed an increased in comparison with the same period in 2013.
The Company’s consolidated net revenue as of June 2014 recorded an increase by 11% to Rp27.53 trillion from Rp24.90 trillion on the corresponding period last year. The weakening Rupiah exchange rate against US Dollar serves as one major factor that generates positive impact, thus increasing the Company’s gross profit by 34%, while the Company’s net income increased 42% to Rp3.28 trillion from Rp2.31 trillion.
Construction Machinery Segment
Net revenue for Construction Machinery segment decreased by 1% to Rp8.44, mainly due to the decline in Komatsu sales volume by 10% to 2,207 units from 2,452 units. Meanwhile, revenue of spare parts and maintenance increased by 15% to Rp 2.88 trillion.
The decline of heavy equipment sales was mainly due to reduced demand from mining and plantation sectors. Out of the total Komatsu sales volume, as much as 36% went to mining sector, 28% to construction sector, 22% to plantation sector, and the remaining 14% to the forestry sector. In the midst of tight competition, Komatsu managed to maintain its position as market leader in the local heavy equipment market by recording 40% market share (source: internal market research). Among complementary products, the sales volume of UD trucks decreased from 287 units to 94 units, while Scania trucks also decreased from 263 units to 242 units.
Mining Contracting Segment
PT Pamapersada Nusantara (Pama), the Company’s subsidiary in Mining Contracting recorded a 12% increase in net revenue amounted to Rp16.20 trillion and contributed 59% to the total consolidated revenue, with an increased coal production volume from 50.1 million tons to 59.9 million tons while overburden removal was down from 415.6 million bcm to 401.3 million bcm.
The Company’s Mining business segment was operated by PT Prima Multi Mineral, PT Tuah Turangga Agung, as well as two new mining concessions, PT Asmin Bara Bronang and PT Duta Nurcahya. From these four mining concessions, coal sales volume reached 3.43 million tons, or rose by 51%. In line with higher coal sales volume, Mining business segment recorded a 46% increase in revenue to Rp2.89 trillion and accounted for 10% of total consolidated revenue.
For further information, please contact the following:
Vice President Director
: Gidion Hasan
: Sara Loebis
: Jl. Raya Bekasi Km.22 Cakung, Jakarta Timur 1310
: (62-21) 24579999, Fax: (62-21) 4600655