Soaring Coal Prices Make Kobexindo Book A 365 Percent Growth In Heavy Equipment Sales In 2021

Photo: Doc. Kobexindo

JAKARTA - PT Kobexindo Tractors Tbk (KOBX) an integrated heavy equipment provider throughout 2021 managed to record a positive performance. This is indicated by the performance of the heavy mining equipment sales segment which is the main contributor to the Company's sales.

Based on preliminary calculations (unaudited), sales of mining heavy equipment units in value managed to grow significantly in the range of 365 percent, the increase was equivalent to the growth in unit sales in the range of 428 percent.

"The impact of the surge in coal prices accompanied by post-pandemic mining production limitations will be a catalyst for sales growth in 2021," said President Director of PT Kobexindo Tractors Tbk, Andry B. Limawan in a written statement, Wednesday, February 16.

This growth spike will encourage performance growth throughout 2021 and has the opportunity to become the highest revenue achievement in the last 3 years. The Company assesses that the potential growth of the heavy equipment segment will continue in 2022.

"Kobexindo assesses that the challenge for heavy equipment manufacturers and distributors in 2022 is the limited production of heavy equipment caused by logistical blockages that are being faced worldwide. The increasing demand for heavy equipment globally adds to the long queue of buyers. Based on the above conditions, the company still has carry over orders 2021 which is scheduled to be delivered in 2022," said Andry.

Kobexindo will continue to innovate and synergize by maximizing internal strengths to take advantage of opportunities to create value for sustainable growth and provide added value for shareholders.

Meanwhile, PT Kobexindo Tractors Tbk as of February 2022 introduced a new logo and tagline. This rebranding is the Company's effort to renew its identity in order to get a new spirit and a fresher and more elegant face.

The new logo is an evolution of the previous symbol which symbolizes the 3 main pillars of KOBEX, namely the Company (Company), Customers (Customers) and Principals (Principals).

"Starting 2022, KOBEX introduced a new logo and tagline. This is a milestone, to continue to renew the spirit of all KOBEX management and employees to maintain sustainable growth. We hope that all components, be it companies, consumers and principals, need, support and mutual benefit," said Andry.