September 8, 2025 – Jakarta
Today, PT United Tractors Tbk (“the Company” or “UT”) presents its Public Expose online as part of the Public Expose Live 2025 event organized by the Indonesia Stock Exchange (IDX). The Company shares its business development initiatives, financial performance for the first half of 2025, operational performance up to July 2025, and social responsibility programs. The event is attended by the Company’s Board of Directors, including Frans Kesuma, Loudy Irwanto Ellias, Ari Sutrisno, Iwan Hadiantoro, Idot Supriadi, Vilihati Surya, Widjaja Kartika, Hendra Hutahean, and Corporate Secretary, Sara K. Loebis.
“In general, the Company’s performance until the first half of 2025 is quite solid and in line with our plans. Amidst a dynamic business environment and pressure on coal prices, the Company maintains a healthy balance sheet. This allows us to continue exploring investment opportunities while further diversifying our portfolio in the future. With this foundation, we remain optimistic that the Company will achieve even stronger performance in 2026 and beyond,” says UT President Director, Frans Kesuma.
The Company has five business segments. The first segment is Construction Machinery, which is engaged in the distribution of heavy equipment and after-sales services. The second segment is Mining Contracting, managed by PT Pamapersada Nusantara. The third segment is Mining, consisting of Coal Mining under the holding Company PT Tuah Turangga Agung, Gold Mining through PT Agincourt Resources and PT Sumbawa Jutaraya, and Nickel Business managed by PT Stargate Pacific Resources and investment in Nickel Industries Limited (NIC). The fourth segment is the Other Segments, which consists of the Energy business in the power generation sector through PT Energia Prima Nusantara and the Construction Industry operated by PT Acset Indonusa Tbk.
In the first half of 2025, the Company recorded net revenue of IDR 68.5 trillion, an increase of 6% from IDR 64.5 trillion in 2024. The net revenue was mainly derived from:
- Rp26.1 trillion in Mining Contracting, 7% lower than the first semester of 2024
- Rp20.9 trillion in Construction Machinery, 34% higher than the first semester of 2024
- Rp13.4 trillion in Thermal and Metallurgical Coal Mining, 14% lower than the first semester of 2024
- Rp7.0 trillion in Gold and Other Mineral Mining, 60% higher than the first semester of 2024.
The Company’s net income is Rp8.1 trillion, 15% lower due to the decline in Mining Contracting business performance, primarily impacted by heavy rainfall and Thermal and Metallurgical Coal Mining operations stemming from lower coal prices. Nevertheless, these adverse impacts are partially compensated by improved contributions from the Gold and Other Mineral Mining and Construction Machinery segments.
A summary of the Company’s consolidated performance is provided in the table below:
Construction Machinery Segment
As of July 2025, the Construction Machinery segment records a 23% increase in Komatsu heavy equipment sales to 3,098 units, driven by higher sales across all sectors. Komatsu maintains its position as the market leader in heavy equipment, with an internal market research showing a market share of 24%. Sales of Scania increase from 229 units to 323 units, while UD Trucks sales rise from 103 to 114 units. In the first half of 2025, the Company’s revenue from spare parts sales and heavy equipment maintenance services grows 2% to IDR 5.5 trillion. Total net revenue from the Construction Machinery segment increases 34% to IDR 20.9 trillion.
Mining Contracting Segment
The Mining Contracting segment is operated by PT Pamapersada Nusantara (PAMA) and its subsidiary PT Kalimantan Prima Persada (KPP Mining). PAMA and KPP Mining (PAMA Group) provide mining services to concession owners, assisting them with overburden removal, coal production, and other minerals. As of July 2025, PAMA Group records a 9% decrease in overburden removal volume to 638 million bcm and a 1% decline in coal production volume for its clients to 83 million tons, with an average stripping ratio of 7.7x. The lower overburden removal and coal production volumes result from rainfall exceeding projections.
Thermal and Metallurgical Coal Mining Segment
PT Tuah Turangga Agung (Turangga Resources) operates the thermal and metallurgical coal mining segment. As of July 2025, Turangga Resources’ coal mines record a coal sales volume of 8.0 million tons (including 2.4 million tons of metallurgical coal), a 19% increase compared to the same period in 2024. Total coal sales volume, including third-party coal, reaches 9.5 million tons, up 12% year-on-year. In the first half of 2025, revenue from the Thermal and Metallurgical Coal Mining segment declines 14% to IDR 13.4 trillion, due to lower average coal selling prices.
Gold and Other Mineral Mining Segment
In the first half of 2025, the Gold and Other Mineral Mining segment records a 60% increase in revenue to IDR 7.0 trillion, mainly driven by higher sales and average gold prices.
Gold Mining
The Company’s gold mining business operates through PT Agincourt Resources (PTAR) and PT Sumbawa Jutaraya (SJR). PTAR operates the Martabe gold mine in South Tapanuli, North Sumatra, while SJR operates a gold mine in Sumbawa, West Nusa Tenggara. Total gold equivalent sales from PTAR and SJR reach 143 thousand ounces as of July 2025, 12% higher than last year. PTAR contributes 136 thousand ounces, while SJR contributes 7 thousand ounces.
Nickel Business
PT Stargate Pacific Resources (SPR) operates a nickel mine in North Konawe, Southeast Sulawesi. SPR records nickel ore sales of 1.3 million wet metric tons (wmt) as of July 2025, consisting of 415 thousand wmt of saprolite and 876 thousand wmt of limonite. Nickel Industries Limited (NIC), which holds a 20.14% stake, is an integrated nickel mining and processing company with key assets in Indonesia. In the first half of 2025, this business segment is impacted by an impairment loss related to two of NIC’s older RKEF projects, recorded in the last quarter of 2024.
Event Highlight
In June 2025, through PT Energia Prima Nusantara (EPN), the Company completes the acquisition of an additional 30.6% stake in Supreme Energy Sriwijaya (SES) for USD 30.8 million, increasing its total ownership in SES to 80.2%. SES holds a 25.2% stake in Supreme Energy Rantau Dedap (SERD), which operates a geothermal project in South Sumatra with an installed capacity of 91.2 MW. Following this transaction, the Company’s total direct and indirect ownership in SERD reaches 40.4%.
United Tractors’ Overview
PT United Tractors Tbk (UT), established in 1972, is Indonesia’s largest heavy equipment distributor. The company operates in five business areas: Construction Machinery, Mining Contracting, Mining, Construction Industry, and Energy. UT is committed to promoting sustainability and achieving the Sustainable Development Goals (SDGs).
ESG United Tractors
As a world-class heavy equipment, mining, and energy company, UT has been operating in Indonesia for over 52 years. The company is committed to creating a sustainable future for Indonesia by effectively applying ESG principles. UT aims to pay attention to the environment, positively impact society, and uphold good corporate governance at all levels of its business operations. The company also strives to optimize its competencies, expertise, and strategic assets to bring added value to all stakeholders and the Indonesian people.
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For more information, please contact: Sara K. Loebis Head of Corporate Governance and Sustainability Division PT United Tractors Tbk Email : ir@unitedtractors.com and corcom@unitedtractors.com Address : Jl. Raya Bekasi Km.22 Cakung, Jakarta Timur 13910 Telp. : (62-21) 3511961, Fax : (62-21) 3441413 Medsos : IG (@unitedtractorsofficial & @ceritadi.unitedtractors) Website: www.unitedtractors.com LinkedIn: PT United Tractors Tbk |