Quarterly
Report

United Tractors Recorded Net Income of Rp 5.3 Trillion

On 18 April 2023, United Tractors (UT/the Company) released its consolidated financial statements for the first quarter 2023. As of 31 March 2023, the Company recorded net revenue of Rp34.9 trillion, increased by 25% compared to Rp28.0 trillion in the same period of 2022. In line with the increase in net revenue, the Company’s net profit was up by 23% to Rp5.3 trillion, from Rp4.3 trillion.

Heavy equipment sales under Construction Machinery segment recorded an increase in Komatsu sales volume by 6% to 1,791 units from 1,694 units. Sales of spare parts and maintenance services increased by 24% to Rp3.0 trillion. Overall, Construction Machinery segment recorded revenue of Rp10.6 trillion or increased by 10% year on year. Mining Contracting segment recorded net revenue of Rp11.7 trillion, up 38% with 27 million tons of coal production and 246 million bcm of overburden removal. Coal Mining segment posted revenue of Rp10.5 trillion, up 39% from Rp7.6 trillion and recorded a slight increase in coal sales at 3.0 million tons. Gold Mining segment recorded revenue of Rp1.7 trillion, decreased by 14%, with gold sales volume achieved 59 thousand ounces. Construction Industry recorded revenue of Rp345 billion, down by 26%. Energy segment recorded revenue of Rp4 billion.

Mining Contracting contributed 33% to the Company’s consolidated net revenue, followed by 31% from Construction Machinery, 30% from Coal Mining, 5% from Gold Mining, 1% from Construction Industry, and less than 1% from Energy.