UT?s consolidated revenue up 11%
Friday, July 25 2014 - 01:55 AM WIB
IDX-listed heavy equipment company PT United Tractors Tbk (UT) announced Thursday that consolidated revenue in the first semester of this year increased by 11 percent to Rp 27.53 trillion from Rp24.90 trillion in the corresponding period of last year.
?The weakening rupiah exchange rate against the US dollar serves as one major factor that generates positive impact, thus increasing the company?s gross profit by 34 percent, while the company?s net income increased 42 percent to Rp3.28 trillion from Rp2.31 trillion,? it said in a statement.
UT, which distributes Komatsu brand heavy equipment in Indonesia, said net revenue for construction machinery segment decreased by 1 percent to Rp8.44, mainly due to the decline in Komatsu sales volume by 10 percent to 2,207 units from 2,452 units. Meanwhile, revenue of spare parts and maintenance increased by 15 percent to Rp 2.88 trillion.
?The decline of heavy equipment sales was mainly due to reduced demand from mining and plantation sectors,? the firm said.
Out of the total Komatsu sales volume, as much as 36 percent went to mining sector, 28 percent to construction sector, 22 percent to plantation sector, and the remaining 14 percent to the forestry sector.
? In the midst of tight competition, Komatsu managed to maintain its position as market leader in the local heavy equipment market by recording 40 percent market share (source: internal market research),? UT said.
Among complementary products, the sales volume of UD trucks decreased from 287 units to 94 units, while Scania trucks also decreased from 263 units to 242 units.
Meanwhile, PT Pamapersada Nusantara (Pama), the company?s subsidiary in mining contracting recorded a 12 percent increase in net revenue amounting to Rp16.20 trillion, and contributed 59 percent to the total consolidated revenue, with an increase in coal production volume from 50.1 million tons to 59.9 million tons while overburden removal was down from 415.6 million bcm to 401.3 million bcm.
UT said that its coal mining business saw a 46 percent increase in revenue to Rp 2.89 trillion in the first semester of this year, accounting for 10 percent of the total consolidated revenue.
Editing by Reiner Simanjuntak