Jakarta, 30 October 2025 – Today PT United Tractors Tbk (“the Company”) released its consolidated financial statements until the third quarter of 2025. The Company recorded net revenue of Rp100.5 trillion, increased by 1% compared to Rp99.6 trillion in the same period of 2024. The revenue was mainly derived from:
- Rp40.2 trillion in Mining Contracting, 8% lower than the same period last year
- Rp29.3 trillion in Construction Machinery, 11% higher than the same period last year
- Rp18.8 trillion in Thermal and Metallurgical Coal Mining, 9% lower than the the same period last year
- Rp10.3 trillion in Gold and Other Mineral Mining, 53% higher than the same period last year
The Company’s net income was Rp11.5 trillion, 26% lower due to the decreased contribution from Mining Contracting primarily affected by heavy rainfall and Thermal and Metallurgical Coal Mining impacted by lower coal prices, while there was improved contribution particularly from Gold Mining.
Summary of the Company’s consolidated performance is provided on the table below:
Construction Machinery Segment
The Construction Machinery segment recorded an increase in Komatsu sales volume by 10% to 3,653 units driven by higher sales across sectors. Komatsu maintains its position as market leader. Based on internal market research, Komatsu’s market share was 22%.
Sales volume of Scania increased from 298 units to 393 units and UD Trucks sales decreased from 156 units to 137 units. Revenue from spare parts and maintenance services slightly decreased to Rp8.3 trillion. In total, the Construction Machinery segment recorded 11% increased net revenue of Rp29.3 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 third quarter of 2025, PAMA Group recorded decreased overburden removal by 10% to 829 million bcm and decreased coal production for its clients by 2% to 109 million tons, with an average stripping ratio of 7.6x. The lower overburden removal and client’s coal production was primarily due to intense rainfall almost throughout the year and following some clients’ request to adjust the OB production target.
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 third quarter of 2025, Turangga Resources’ coal mine reported own coal sales volume of 9.2 million tons (including 2.8 million tons of metallurgical coal), increased by 15% compared to the same period in 2024. Total coal sales volume including third party coal increased 10% to 11.2 million tons compared to the same period last year. Coal Mining segment recorded a 9% decrease in net revenue to Rp18.8 trillion due to lower coal prices.
Gold and Other Mineral Mining Segment
The Gold and Other Mineral Mining segment recorded 53% higher revenue to Rp10.3 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 178 thousand ounces until the third quarter of 2025, 8% higher year on year. PTAR operates Martabe gold mine located in South Tapanuli, North Sumatra. Martabe reported 170 thousand ounces of gold sales equivalent, 3% higher than the same period last year. SJR operates a gold mine concession in Sumbawa Island, West Nusa Tenggara. SJR reported 8 thousand ounces of gold sales equivalent.
Nickel Business
PT Stargate Pasific Resources (SPR) operates nickel mine which is located in North Konawe, Southeast Sulawesi. SPR reported 1.6 million wet metric tonnes (wmt) of nickel ore sales in third quarter of 2025, comprising 0.5 million wmt of saprolite and 1.1 million 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 quarter of 2025 result). NIC’s RKEF operations reported nickel metal sales of 62,641 tons in the first half 2025.
Corporate Action
On 30 October 2025, the Company announced that it will conduct a share buyback program (the “Program”) of up to Rp 2 trillion for shares issued and listed on the Indonesia Stock Exchange (IDX). The Program will be carried out in accordance with the Financial Services Authority regulation related to share buybacks in significantly fluctuating market
The Program begins on 31 October 2025 until 30 January 2026, covering a maximum period of three (3) months from the date of the Information Disclosure on 30 October 2025, unless terminated earlier by the Company before 30 January 2026, in compliance with the foregoing regulation. The management expects that the Program will be value accretive for the shareholders amid market fluctuations.
The Program reflects management’s confidence in the Company’s prospects and its ability to generate sustainable cash flow. The Program is also intended to support the government in maintaining stability of the capital market.
On 12 September 2025, the Company through its subsidiary PT Danusa Tambang Nusantara (DTN), signed a Conditional Sale and Purchase Agreement to acquire PT Arafura Surya Alam (ASA) for an enterprise value of USD540 million.
ASA is a gold mining company, subsidiary of PT J Resources Nusantara (a subsidiary of PT J Resources Asia Pasifik Tbk), holding a Mining Business Permit–Operation Production (IUP-OP) for a single mining block, the Doup Block in North Sulawesi, that has a combined JORC Compliant Proven & Probable Ore Reserves of 1.57 million oz gold deposit contained within a Measured, Indicated & Inferred Mineral Resources of 3.11 million oz gold.
Completion is subject to the fulfilment of condition precedents and is expected no later than the end of 2025.
Group Activities
- Athletes fostered by UT through UT Inspiring Youth program that promotes unity and inclusion, brought pride to Indonesia as the Special Olympics Indonesia (SOIna) DKI Jakartafootball team secured third place at the 2025 Gothia Cup in Gothenburg, Sweden.
- A mechanic from UT earned First Place and the title of Best Mechanic in Southeast and South Asia at the Advanced Technique Contest 2025 in Bangkok, Thailand organized by the Asia Training and Demonstration Center and supported by Komatsu Parts Asia Corporation, reflecting the success of UT’s sustained human capital development, particularly for essential frontliners to ensuring customer satisfaction and operational excellence.
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PT Kalimantan Prima Persada, a subsidiary of UT, gained international recognition in Health Promotion and Investment in People categories at the Asia Responsible Enterprise Awards (AREA) 2025 in Bangkok, highlighting commitment to sustainability and consistent efforts to create lasting social impact for employees and surrounding communities.
- UT received multiple awards at the OSH Asia’s Summit 2025 organized by First Indonesia Magazine for its excellence and innovation in Occupational Safety and Health (OSH) implementation, reflecting its commitment to embedding safety as a core business value.
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For further information, please contact the following: Corporate Secretary : Ari Setiyawan Email : ir@unitedtractors.com Address : Jl. Raya Bekasi Km.22 Cakung, Jakarta Timur 13910 Phone : (62-21) 24579999, Fax: (62-21) 4600655 |