JAKARTA – PT United Tractors Tbk (UNTR), a subsidiary of PT Astra International Tbk (ASII), booked 5% year-on-year (yoy) decline in net profit in 2024 to IDR 19.53 trillion from IDR 20.61 trillion in 2023. This profit slump occurred despite 4.54% yoy increase in its revenue.

This net revenue was derived from the Mining Contractor segment, which contributed IDR 58.0 trillion, the Construction Machinery segment with IDR 37.3 trillion, the Thermal and Metallurgical Coal Mining segment at IDR 26.0 trillion, and the Gold and Other Mineral Mining segment, which generated IDR 9.9 trillion.

With the increase in net revenue of 4.54% yoy to IDR 134.42 trillion in 2024, UNTR’s cost of goods sold rose by 8.40% yoy, from IDR 92.7 trillion to IDR 100.59 trillion, resulting in a 5.46% yoy decline in gross profit to IDR 33.8 trillion from IDR 35.7 trillion.

Operationally, UNTR sold 4,420 units of heavy equipment in 2024, with 65% of these sales absorbed by the mining sector. In the coal mining sector, UNTR managed to increase sales volume from 11.79 million tonnes to 13.14 million tonnes in 2024.

In the gold mining sector, through Agincourt Resources and Sumbawa Jutaraya, UNTR recorded an increase in sales from 175,430 gold equivalent ounces (GEOs) to 232,077 GEOs in 2024. Additionally, in the nickel mining sector, UNTR successfully sold 1.97 million wet metric tonnes (wmt) of nickel throughout the year.

In the past six months, UNTR's share price has dropped significantly by 20.97%. As of the first trading session on Friday (28/2), UNTR’s share price fell by 5.87%, from IDR 23,100 per share to IDR 22,050 per share. (DK/ZH)