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Triwulan

United Tractors Recorded Net Income of Rp15.3 Trillion

On 31 October 2023, United Tractors (UT/the Company) released its consolidated financial statements for the third quarter of 2023. As of 30 September 2023, the Company recorded net revenue of Rp97.6 trillion, increased by 7% compared to Rp91.5 trillion in the same period of 2022. The Company’s gross profit increased by 2% from Rp25.3 trillion to Rp25.7 trillion. Meanwhile, the Company’s net profit decreased by 3% to Rp15.3 trillion from Rp15.9 trillion due to higher finance costs and foreign exchange losses.

Heavy equipment sales under Construction Machinery segment recorded a decrease in Komatsu sales volume by 4% to 4,365 units from 4,534 units. Sales of spare parts and maintenance services increased by 18% to Rp8.9 trillion. Overall, Construction Machinery segment recorded revenue of Rp28.7 trillion or increased by 5% year on year. Mining Contracting segment recorded net revenue of Rp39.1 trillion, up 18% with 96 million tons of coal production and 853 million bcm of overburden removal. Coal Mining segment posted revenue of Rp24.0 trillion, down by 2% from Rp24.4 trillion and recorded a 10% increase in coal sales at 8.5 million tons. Gold Mining segment recorded revenue of Rp4.3 trillion, decreased by 26%, with gold sales volume achieved 147 thousand ounces. Construction Industry recorded revenue of Rp1.5 trillion.

Mining Contracting segment contributed 40% to the Company’s consolidated net revenue, followed by 29% from Construction Machinery, 25% from Coal Mining, 4% from Gold Mining, 2% from Construction Industry, and less than 1% from Energy.

On 7th August 2023, the Company through its wholly owned subsidiary PT Energia Prima Nusantara (EPN) signed a subscription agreement to acquire 40.476% of new shares issued by PT Supreme Energy Sriwijaya (SES) for a total value of USD42.3 million. SES is a 25.2% shareholder of PT Supreme Energy Rantau Dedap (SERD), wwhich owns a license to operate geothermal with an existing capacity of 2 x 49 MW that is already in operation in South Sumatera. Completion of the transaction is still subject to certain conditions precedent.

On 21st September 2023, the Company through its wholly owned subsidiary PT Danusa Tambang Nusantara (DTN), completed a transaction to subscribe for a 19.99% shareholding in Nickel Industries Limited (NIC) for AUD942.7 million. NIC, which is listed on the Australian Securities Exchange, is an integrated nickel mining and processing company with major assets located in Indonesia.