Mining Directory

PT Kobexindo Tractors Tb k. ( KOBX ) posted heavy equipment sales of US$ 89.99 million, up 205.1 percent year-on-year (YoY) last year. Andry B Limawan, President Director of Kobexindo , explained that the heavy equipment unit sales segment was the highest contributor, amounting to 75.42 percent of total consolidated revenue.

"This achievement is the best performance in the last three years before the pandemic. The positive catalyst for the surge came from the skyrocketing prices of coal and mineral commodities at the end of 2020," Andry said in his statement, Monday (4/4/2022).

Andry continued, the increase in coal prices has triggered mining producers to resume operations and increase productivity through the purchase of heavy equipment, both to increase their fleet and to upgrade units.

Meanwhile, the revenue growth of the issuer codenamed  KOBX  was recorded at 134 percent throughout 2021 to US$119.32 million, an increase compared to 2020 of US$50.97 million. In addition to heavy equipment sales, the company's revenue was also contributed by four other segments, namely sales of spare parts, repairs and mining contractors, heavy equipment rental, and building rental. The spare parts segment posted US$16.09 million, equivalent to a 13.48 percent contribution to revenue.

Then, the repair service and mining contractor segments throughout 2021 posted revenues of US$7.70 million, equivalent to 6.46 percent of total revenue. Meanwhile, the heavy equipment rental segment was recorded at US$4.84 million or 4.05 percent, and the building rental segment was recorded at US$701 thousand or 0.59 percent of consolidated revenue.

Meanwhile, as an effort to strengthen the structure and revenue portfolio, in 2021 KOBX has added business lines namely sales, repair and sales of spare parts for Mercedes-Benz heavy duty trucks, as well as mining contractors. Previously, the Association of Indonesian Heavy Equipment Sole Agents (PAABI) recorded sales in January 2022 reaching 1,700 units, above the monthly average in semester II/2021 of 1,400 units.

Meanwhile, throughout 2021, heavy equipment sales rose 110 percent to 14,560 units from the 2020 achievement of 7,200 units. "Mining is the most significant driver, both in coal and nickel, which drives coal and nickel," said PAABI Chairman Etot Listyono.

Source: https://market.bisnis.com/read/20220404/192/1518895/berkah-batu-bara-penjualan-alat-berat-kobexindo-kobx-melesat-200-persen