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ISSUER NEWS - JAKARTA. PT United Tractors Tbk (UNTR) recorded a decrease in net profit throughout 2023. This heavy equipment seller recorded a net profit of IDR 20.61 trillion throughout 2023. This realization decreased slightly by 2% from the net profit in the 2022 period which amounted to IDR 21 trillion.
Quoting the financial report on the Indonesia Stock Exchange, Tuesday (27/2), this net profit decrease occurred amid an increase in net income. UNTR recorded consolidated revenue reaching IDR 128.6 trillion by the end of 2023. This realization increased by 4% compared to the 2022 revenue of IDR 123.60 trillion.
Several UNTR business lines were observed to grow. The revenue of the Construction Machinery business unit slightly increased to IDR 36.6 trillion compared to IDR 36.5 trillion in 2022.
The Mining Contractor business unit run by PT Pamapersada Nusantara (Pama) recorded a net income of IDR 54.0 trillion. This realization increased by 14% compared to 2022.
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However, the business unit in the Coal Mining sector run by PT Tuah Turangga Agung (TTA) decreased by 2% compared to 2022, from IDR 31.1 trillion to IDR 30.5 trillion. This decrease was due to a decrease in the average selling price of coal.
The net income of the mining business unit also decreased by 32% from IDR 7.7 trillion to IDR 5.2 trillion.
Revenue in the construction sector through PT Acset Indonusa Tbk (ACST) soared 136% to IDR 2.2 trillion.
From the bottomline side, ACST recorded a net loss of IDR 270 billion. However, this net loss decreased compared to the net loss in 2022 which reached IDR 449 billion.
