Thursday, February 27, 2014
PT United Tractors Tbk (“UT”) today announced the Company’s performance in 2013 which in general reflects the dynamics within the Company, wherein the performance of Construction Machinery and Mining business units were decreased, while the performance of Mining Contracting business unit recorded an increase.
In 2013, UT’s consolidated revenue reported 9% down, from Rp 55.95 trillion in 2012 to Rp 51.01 trillion, while Company’s net profit declined by 16% to Rp 4.83 trillion from Rp 5.78 trillion.
Construction Machinery Segment
Net revenue for Construction Machinery segment decreased by 29% to Rp 15.64 trillion and contributed 31% to the total consolidated revenue. Reduced demand for heavy equipment, particularly in mining and plantation sectors as the result of decreased activity in those sectors, drove a negative impact on Komatsu sales volume during the year 2013, which fell by 32%, from 6,202 units in 2012 to 4,203 units.
Out of the total Komatsu sales volume, as much as 43% went to mining sector, 26% to construction sector, 23% to plantation sector, and the remaining 8% to the forestry sector. In the midst of tight competition, Komatsu maintained its position as market leader with a market share of 41% (source: internal market research).
In line with weaker demand for heavy equipment, revenue of spare parts and maintenance services was down to Rp 5.52 trillion, a fall of 6%. Sales of other products, such as UD Trucks were decreased from 414 units to 365 units, while sales volume of Scania trucks were increased from 363 units to 445 units.
Mining Contracting Segment
PT Pamapersada Nusantara (Pama), the Company’s subsidiary in Mining Contracting recorded a 13% increase in net revenue amounted to Rp 31.55 trillion and contributed 62% to the total consolidated revenue, with an increased coal production volume from 94.4 million tons to 105.1 million tons while overburden removal was down from 855.5 million bcm to 844.9 million bcm.
The Company’s Mining business segment was operated by PT Prima Multi Mineral, PT Tuah Turangga Agung, as well as several new mining concessions such as PT Asmin Bara Bronang, and PT Duta Nurcahya that have started commercial production since fourth quarter 2013. From these four mining concessions, coal sales volume reached 4.18 million tons, down by 26% from a volume of 5.63 million tons. Due to lower average selling price of coal, Mining business segment recorded a drop in revenue by 34% to Rp 3.81 trillion and accounted for 7% of total consolidated revenue.