UNTR Reveals Causes Of Decreased Performance Due To Sloping Coal Prices

UNTR Corporate Secretary, Sara K. Loebis (second from the right). (Photo: Aris Nurjani/VOI)

JAKARTA - PT United Tractors Tbk (UNTR) recorded revenue of IDR 64.5 trillion in the first semester of 2024, down 6 percent when compared to the same period in 2023 of IDR 68.7 trillion.

UNTR Corporate Secretary, Sara K. Loebis explained, the decline in the company's revenue was due to the fluctuation in coal prices this year, where in 2023 coal commodity prices jumped sharply.

"Income fell 6 percent, in terms of profit, it fell by around 15 percent. This is not something that made us surprising, although we do know there are things we cannot avoid, in 2023 we are still enjoying the impact of high commodity prices, especially coal," he said at the Astra Media Day 2024 event Wednesday, September 18, 2024.

According to Sara, in 2024 the price of coal has been sloping and this is still considered good by the mining actors so that her party is optimistic that this year's performance will improve even though it was not as high as last year.

Sara said that Komatsu's sales were 2,500 units until the first semester of 2024, down 29 percent when compared to July the previous year.

Meanwhile, UNTR targets Komatsu sales until the end of the year as many as 4,500 units.

"We have revised our target slightly higher, namely in 4,500 units when compared to full year 2023," he said.

Meanwhile, coal production until July 2024 was 83.7 million tons, an increase of 18 percent compared to the same period last year.