Heavy Equipment Sales Grow By 205 Percent, Kobexindo Distributes US$1.4 Million Dividend

Photo: Maria Trinasawti Pongo / YOU

JAKARTA - PT Kobexindo Tractors Tbk received shareholder approval to distribute dividends of 1,433,352 US dollars or equivalent to Rp. 20,452,500,000 or 10.6 percent of net profit in 2021.

The GMS also approved the allocation of 2021 net profit of 27,865 US dollars as a reserve fund and the remaining unappropriated 2021 net profit of 12,084,085 US dollars to be designated as retained earnings.

President Director of PT Kobexindo Tractors Tbk, Andry B. Limawan said, the decision to distribute dividends this year cannot be separated from the Company's solid performance in 2021.

"Revenue was recorded to grow by 134.11 percent throughout 2021 or 119.32 million US dollars compared to 2020, which was 50.97 million US dollars," he said in an official statement, Thursday, June 16.

He said that the largest contributor came from sales of heavy equipment units, which grew 205.01 percent throughout 2021 and contributed 75.42 percent to consolidated revenue.

This revenue growth boosted the profit that could be allocated to the parent owner by 13.52 million US dollars, after experiencing a loss of 10.46 million US dollars in 2020.

Andry added, the positive trend of performance throughout 2021 will continue in 2022. In the first quarter of 2022 financial statements, the Company posted revenue growth of 106.23 percent. Where sales until the end of March were recorded at 46.52 million US dollars compared to 22.56 million US dollars in the first quarter of 2021.

Meanwhile, the Company's bottom line recorded significant growth. Net profit jumped 295.58 percent or reached 3.94 million US dollars in the first quarter of 2022 compared to the same period last year of 996.976 US dollars.

"In 2022, the Company has diversified into the construction sector by bringing in Dynapac and Doosan Portable Power products, after previously entering the mining contractor service sector in 2021," he said.

The shareholders have also approved the agenda for changing the members of the Company's Board of Commissioners, namely adding Christina as an Independent Commissioner.

The latest composition of the board of directors based on the results of today's meeting is as follows:

board of Commissioners

President Commissioner : Yudi Budiman

Independent Commissioner : Jeffrey Mulyono

Independent Commissioner : Christina

Directors

President Director : Andry B. Limawan

Director : Martio

Director : Yohanes William Soputro

Director : Almuqri Sagitri Putra

Director : Fahmi Rizal

Director : B. Suryowirawan