PT United Tractors Tbk (UNTR) earned revenue of USD271.6 million or equivalent to IDR 4.27 trillion through its subsidiary PT Danusa Tambang Nusantara. The nickel segment is expected to balance the company's revenue contribution from the weak coal business.

United Tractors Corporate Secretary Sara K. Loebis said nickel production is expected to be recorded in the company's financial statements in the middle of next year.

UNTR recently officially expanded into the nickel business by acquiring shares of nickel mining company PT Stargate Pacific Resources (SPR) and nickel smelter company PT Stargate Mineral Asia (SMA).

For your information, Danusa itself is 60 percent owned by PT United Tractors Tbk (UNTR) and 40 percent by PT Pamapersada Nusantara (PAMA), a subsidiary of UNTR.

Going forward, PAMA will continue to be committed to other business developments to further strengthen its position in the Indonesian mining sector, especially in the non-coal sector.

The UNTR Group also issued capital expenditure (capex) equivalent to IDR 3.38 trillion to build a nickel smelter project. The capex required is around USD220 million for the construction of the smelter within a period of 2.5-3 years.

United Tractors (UNTR) in the third quarter of 2022 recorded a net revenue of IDR 91.5 trillion. An increase of 58 percent compared to the same period last year of IDR 57.82 trillion. All business units contributed to this achievement.

To be precise, construction machinery is 30 percent, mining contractors are 36 percent, coal mining is 27 percent, gold mining is 6 percent, and the construction industry is 1 percent of the total consolidated net income. In detail, the coal mining business line rose 138 percent to IDR 24.36 trillion.

United Tractors recorded profit after tax or net profit of IDR 15.9 trillion, up 103 percent from the same period last year of IDR 7.8 trillion. Earnings per share rose 104 percent to Rp4,283 from the same period last year of Rp2,096.

Image source: United Tractor

Source: https://www.emitennews.com/news/united-tractors-untr-raih-pendapatan-rp427-triliun-dari-nikel