Jakarta, 30th July 2025 – Today PT United Tractors Tbk (“the Company”) released its consolidated financial statements for the first quarter of 2025. The Company recorded net revenue of Rp68.5 trillion, increased by 6% compared to Rp64.5 trillion in the same period of 2024. The 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 was 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 were partially compensated by improved contributions from the Gold and Other Mineral Mining and Construction Machinery segments.
Summary of the Company’s consolidated performance is provided on the table below:
Note: The Company’s financial data for the period ended 30th June 2025 was unaudited.
The Company is conducting a limited review by a Public Accountant and will submit the Reviewed Financial Statement at the latest two months after the date of the First Half 2025 Financial Statements.
Construction Machinery Segment
The Construction Machinery segment recorded an increase in Komatsu sales volume by 27% to 2,728 units driven by higher sales across sectors. Komatsu maintains its position as market leader. Based on internal market research, Komatsu’s market share was 26%. Sales volume of Scania increased from 182 units to 282 units and UD Trucks sales increased from 82 units to 109. Revenue from spare parts and maintenance services increased by 6% to Rp5.5 trillion. In total, the Construction Machinery segment recorded 34% increased net revenue of Rp20.9 trillion.
Mining Contracting Segment
The Company operates its Mining Contracting segment through PT Pamapersada Nusantara (PAMA) and its subsidiary PT Kalimantan Prima Persada (KPP Mining). PAMA and KPP Mining (PAMA Group) provide mining services to mine concession owners, by assisting them with overburden removal and coal and other mineral production.
Until the first semester of 2025, PAMA Group recorded decreased overburden removal by 9% to 533 million bcm and decreased coal production for its clients by 2% to 68 million tons, with an average stripping ratio of 7.8x. The lower PAMA overburden removal and client’s coal production was due to higher rainfall above the forecast in the first five months of 2025.
Thermal and Metallurgical Coal Mining Segment
The Company’s thermal and metallurgical coal mining business segment is operated by PT Tuah Turangga Agung (Turangga Resources).
Until the first semester of 2025, Turangga Resources’ coal mine reported reported own coal sales volume of 6.6 million tons (including 2.1 million tons of metallurgical coal), increased by 10% compared to the first semester of 2024. Total coal sales volume including third party coal increased 3% to 7.8 million tons compared to the same period last year.
Coal Mining segment recorded a 14% decrease in net revenue to Rp13.4 trillion due to lower coal prices.
Gold and Other Mineral Mining Segment
The Gold and Other Mineral Mining segment recorded 60% higher revenue to Rp7.0 trillion, mainly due to higher gold sales and stronger selling prices.
Gold Mining
The Company’s gold mining business operated by PT Agincourt Resources (PTAR) and PT Sumbawa Jutaraya (SJR) reported total gold sales equivalent of 125 thousand ounces, 14% higher year on year.
PTAR operates Martabe gold mine located in South Tapanuli, North Sumatra. Martabe reported 119 thousand ounces of gold sales equivalent, 8% higher than the same period last year.
SJR operates a gold mine concession in Sumbawa Island, West Nusa Tenggara. SJR reported 6 thousand ounces of gold sales equivalent.
Nickel Business
PT Stargate Pasific Resources (SPR) operates nickel mine which is located in Southeast Sulawesi. SPR reported 1.1 million wet metric tonnes (wmt) of nickel ore sales in first semester of 2025, comprising 360 thousand wmt of saprolite and 727 thousand wmt of limonite.
20.14%-owned Nickel Industries Limited (NIC) is an integrated nickel mining and processing company with major assets located in Indonesia. The performance of this business was affected by an impairment relating to two of NIC’s older RKEF processing plants in last quarter of 2024 (affected in the Company’s first half of 2025 result).
Event Highlights
In June 2025, the Company completed the acquisition of an additional 30.6% stake in Supreme Energy Sriwijaya (SES) for USD30.8 million, thus increasing its total ownership in SES to 80.2%. SES is a 25.2% shareholder of Supreme Energy Rantau Dedap (SERD), which owns an operating geothermal project in South Sumatera with an installed capacity of 91.2 MW. Following this transaction, the Company’s total direct and indirect shareholding in SERD is 40.4%.
For further information, please contact the following:
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Corporate Secretary |
: Sara Loebis |
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Address |
: Jl. Raya Bekasi Km.22 Cakung, Jakarta Timur 13910 |
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Phone |
: (62-21) 24579999, Fax: (62-21) 4600655 |