PT United Tractors Tbk ( UNTR ) succeeded in absorbing capital expenditure ( capex) of US$ 600 million or the equivalent of Rp. 9 trillion during the first half of 2023. This realization is equivalent to 50% of the capex budgeted this year, namely US$ 1. 2 billion.

UNTR Corporate Secretary Sara K. Loebis said, the capex was used to purchase heavy equipment for the mining contractor business line.

"Hopefully the rest will be absorbed according to plan," Sara told Kontan.co.id, Monday (7/8). However, Sara admits that she does not yet have views and estimates regarding the capex allocation for next year.

Meanwhile, the UNTR mining contractor business line recorded excellent performance for the first six months of 2023. In the mining contractor segment run by PT Pamapersada Nusantara (Pama), UNTR posted net income of IDR 24.3 trillion, an increase of 22% compared to the same period in 2022 .

The increase in Pama's financial performance was in line with the increase in coal production volume by 18% from 50 million tons to 59 million tons and the volume of overburden removal work by 20% from 437 million bank cubic meters (bcm) to 524 million bcm.

The UNTR business unit in the coal mining sector which is run by PT Tuah Turangga Agung (TTA) also posted a revenue increase of 8% year -on-year (YoY) to IDR 20.1 trillion. This increase was in line with the increase in total coal sales by 11% to 6.4 million tonnes, including sales of 1.3 million tonnes of metallurgical coal.

Meanwhile, the revenue of the construction machinery business unit until the first semester of 2023 amounted to IDR 20.3 trillion, an increase of 16% compared to the first semester of 2022 which amounted to IDR 17.4 trillion. As of June 2023, Komatsu heavy equipment sales volume was recorded at 3,145 units, up 9% compared to sales in the same period in 2022 of 2,873 units.

If accumulated, UNTR posted a consolidated net income of IDR 68.7 trillion during the first semester of 2023. This realization increased by 14% when compared to the same period in 2022.

Image source: Dok/PT United Tractors Tbk

Source: https://investasi.kontan.co.id/news/united-tractors-untr-telah-menyerap-50-alokasi-capex-tahun-ini