UT?s Q3 revenue down by 15% as heavy equipment sales volume drops
Thursday, October 31 2013 - 02:19 AM WIB
IDX-listed heavy equipment company PT United Tractors Tbk reported Thursday that consolidated revenue in the first nine months of this year declined by 15 percent to Rp 37.31 trillion from Rp 44.14 trillion in the same period of 2012.
Meanwhile, the company?s net profit as of September 2013 fell by 24 percent to Rp3.38 trillion from Rp4.47 trillion.
Total Komatsu sales volume fell by 39 percent year-on-year mainly due to reduced demand from mining and plantation sectors, as well as weak rupiah. In line with lower activity in these sectors, revenue from spare parts and maintenance services was down 8 percent. Overall, the construction machinery revenue in the first nine months 2013 decreased by 36 percent to Rp12.2 trillion.
Mining contracting business, through PT Pamapersada Nusantara (Pama) recorded net revenue of Rp 22.6 trillion, with an increased in total coal production volume from 68.7 million tons to 78.3 million tons and overburden removal from 634.3 million bcm to 639.4 million bcm.
On coal mining business, the mining segment revenue recorded a drop by 50 percent to Rp2.50 trillion as coal sales volume fell 36 percent to 2.88 million tons. The lower average selling price of coal and increased fuel cost also negatively impacted earnings.
Overall, to this total net revenue, the contribution from each company?s business unit was 32.7 percent from construction machinery, 60.6 percent from mining contracting, and 6.7 percent from mining.
Editing by Reiner Simanjuntak