Jakarta, 26th February 2026 – Today PT United Tractors Tbk (“the Company”) released its consolidated financial statements until the fourth quarter of 2025. The Company recorded net revenue of Rp131.3 trillion, decreased by 2% compared to Rp134.4 trillion in the same period of 2024. The revenue was mainly derived from:
– Rp54.1 trillion in Mining Contracting, 7% lower than the same period of last year
– Rp36.6 trillion in Construction Machinery, 2% lower than the same period of last year
– Rp24.2 trillion in Thermal and Metallurgical Coal Mining, 7% lower than the same period of last year
– Rp14.0 trillion in Gold and Other Mineral Mining, 41% higher than the same period of last year
The Company’s net income was Rp14.8 trillion, 24% lower due to the decreased contribution from Mining Contracting mainly affected by heavy rainfall and Thermal and Metallurgical Coal Mining impacted by lower coal prices which were partly offset by stronger gold prices.
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 2% to 4,515 units due to higher sales from forestry and plantation sectors. Based on internal market research, Komatsu’s market share was 20%. Komatsu maintains its position as market leader in mining sector. Sales volume of Scania increased from 436 units to 466 units and UD Trucks sales decreased from 234 units to 155 units. Revenue from spare parts and maintenance services decreased by 3% to Rp11.3 trillion. In total, the Construction Machinery segment recorded 2% decreased net revenue of Rp36.6 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 fourth quarter of 2025, PAMA Group recorded decreased overburden removal by 10% to 1,100 million bcm and coal production for its clients remained at 148 million tons, with an average stripping ratio of 7.4x. The lower overburden removal was mainly due to heavy rainfall and reduced stripping ratio for some customer contracts. In total, the Mining Contracting segment recorded 7% decreased net revenue of Rp54.1 trillion.
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).
In 2025, Turangga Resources’ coal mine reported own coal sales volume of 11.6 million tons (including 3.7 million tons of metallurgical coal), increased by 14% compared to 2024. Total coal sales volume including third party coal increased 9% to 14.3 million tons compared to last year. Coal Mining segment recorded a 7% decrease in net revenue to Rp24.2 trillion due to lower coal prices.
Gold and Other Mineral Mining Segment
The Gold and Other Mineral Mining segment recorded 41% higher revenue to Rp14.0 trillion, mainly due to stronger gold 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 227 thousand ounces until the fourth quarter of 2025, 2% lower compared to last year. PTAR reported 213 thousand ounces of gold sales equivalent, 7% lower compared to last year. SJR reported 14 thousand ounces of gold sales equivalent.
Nickel Business
PT Stargate Pasific Resources (SPR) which operates nickel mine reported 2.1 million wet metric tonnes (wmt) of nickel ore sales until fourth quarter of 2025, comprising 0.7 million wmt of saprolite and 1.4 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 93,264 tons until third quarter of 2025.
Corporate Action
On 14 January 2026, UT completed its Rp2 trillion share buyback program which was started from 31 October 2025 with 68.5 million shares repurchased. Subsequently, UT announced a second tranche of its share buyback up to Rp2 trillion from 22 January to 15 April 2026. These programs are carried out in accordance with the Financial Services Authority regulation related to share buybacks under significantly fluctuating market conditions. These programs reflect management’s confidence in the Company’s prospects and its ability to generate sustainable cash flow, as well as supporting the government in maintaining stability of the capital market.
On 11 February 2026, the Company through its subsidiaries, PT Danusa Tambang Nusantara and PT Energia Prima Nusantara, has completed the transaction to acquire 100% share ownership in PT Arafura Surya Alam, a gold mining company located in North Sulawesi.
Group Activitiess
Turangga Resources together with its subsidiaries (PT Suprabari Mapanindo Mineral and PT Telen Orbit Prima) earned three awards at Indonesian SDGs Awards 2025 hosted by the Corporate Forum for Community Development supported by Kementerian PPN/Bappenas, Kementerian Lingkungan Hidup dan Kehutanan, and Badan Standardisasi Nasional, recognizing commitment to implement sustainable business practices that deliver tangible benefits for the environment, local communities, and national development.
PT Energia Prima Nusantara, a subsidiary of UT, was awarded the 2025 National Energy Efficiency Award (PEEN) at the Subroto Award ceremony organized by the Ministry of Energy and Mineral Resources (Kementerian ESDM), highlighting commitment to advance efficient and sustainable energy management practices.
UT received the Eco‑Innovation Award from B-Universe which underscores the Company’s consistent and comprehensive implementation of ESG principles across all operational segments, encompassing energy efficiency, green innovation, social responsibility, and transparent governance.
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