Quarterly
Report

On 27 April 2022, United Tractors (UT/the Company) released its consolidated financial statements for the first quarter 2022. As at 31 March 2022, the Company recorded net revenue of Rp28.0 trillion, increased by 56% compared to Rp17.9 trillion in the same period of 2021. In line with the increase in net revenue, the Company’s net profit was up by 131% to Rp4.3 trillion, from Rp1.9 trillion.

Heavy equipment sales under Construction Machinery segment recorded an increase in Komatsu sales volume by 146% to 1,694 units from 688 units. Sales of spare parts and maintenance services increased by 49% to Rp2.4 trillion. Overall, Construction Machinery segment recorded revenue of Rp9.7 trillion or increased by 122% year on year. Mining Contracting segment recorded 22% higher net revenue at Rp8.5 trillion, with 23.9 million tons of coal production and 207.3 million bcm of overburden removal. Coal Mining segment recorded lower coal sales volume at 2.9 million tons, with net revenue increased by 92% to Rp7.6 trillion. Gold Mining segment recorded revenue of Rp2.0 trillion or decreased 11%, with gold sales volume achieved 74 thousand ounces. The last segment, Construction Industry, recorded net revenue of Rp274 billion or down by 28%.

To the Company’s consolidated net revenue, Construction Machinery segment contributed 35%, followed by 30% from Mining Contracting, 27% from Coal Mining, 7% from Gold Mining and 1% fromConstruction Industry.

In line with the Company’s business development strategy in environmentally friendly energy sector, the Company has determined renewable energy business as one of its transition strategies. Through its subsidiary, PT Energia Prima Nusantara, the Company has installed 4.7 MWp Rooftop Solar PV. In 2022, the Company targets an addition of 15 MWp new Rooftop Solar PV installations. In addition, the Company is currently constructing a mini-hydro power plant located in Sumatra with capacity of 7 MW and expected to operate in 2023.