PT United Tractors Tbk ( (PUTKF) ) has released its Q3 earnings. Here is a breakdown of the information PT United Tractors Tbk presented to its investors.
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PT United Tractors Tbk, a prominent player in the heavy equipment and mining sectors, has recorded a steady financial performance for the first nine months of 2024, with a consolidated revenue of Rp99.6 trillion and a net income of Rp15.6 trillion. The company’s financial results for the third quarter of 2024 indicate a slight growth in both revenue and net income compared to the previous year. This growth was primarily driven by increased contributions from the Mining Contracting and Gold & Other Mineral Mining segments, despite challenges in the Construction Machinery and Coal Mining segments. The Mining Contracting segment, operated by PT Pamapersada Nusantara, showed an 11% increase in revenue, while the Gold & Other Mineral Mining segment reported a significant 57% increase in revenue due to higher gold sales volume and average selling prices. However, the Construction Machinery segment experienced an 8% decline in revenue, largely due to a 24% drop in Komatsu heavy equipment sales. Looking ahead, PT United Tractors Tbk remains focused on leveraging its strengths in the mining and construction sectors, with strategic investments in new segments such as nickel mining, and continued expansion in its energy business.
