Indonesia: PT United Tractors (UNTR), a unit of Astra International group, has reported a 11% y-o-y growth in coal production to 125.1 MnT during CY 2018 from 112.6 MnT in the previous year, the company said in a filing to Indonesia Stock Exchange.
Overburden removal also increased to 979.4 bcm in CY 2018 from 800.8 bcm in 2017, the company said.
The company’s actual coal production was in line with the estimated figure of 125 MnT, which was previously reported by Kontan last week citing Sara K Loebis, corporate secretary of the company.
United Tractors, which also sells heavy equipment with brands like Komatsu, reported 31% Y-o-Y increase in revenue to 84.1 Trillion Indonesian Rupiah (USD 6 Billion) from 64.56 Trillion Indonesian Rupiah in the previous year. (Assuming an exchange rate of 1 U.S dollar to 14,013.2 Indonesian Rupiah).
While cost of revenue rose to 63.5 Trillion Indonesian Rupiah in CY18 from 50.1 Trillion Indonesian Rupiah in the previous, the statement showed.
Net profit of the company rose 50% Y-o-Y to 11.1 Trillion Indonesian Rupiah in CY 2018 from 7.4 Trillion Indonesian Rupiah in the previous year, the statement showed.
The company has set its coal production target to increase to between 125 MnT to 127 MnT this year, Kontan reported last week.
The company has also set has set aside between USD 700-800 Million as capital expenditure this year, with the bulk of it will be used to fund the company’s various mining contractor business, the newspaper reported last week.
United Tractor has several coal mining units with PT Pama Persada being its biggest coal project.
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