UNTR – Heavy equipment sales fell 33.04% yoy in 2M24

UNTR – Heavy equipment sales fell 33.04% yoy in 2M24 United Tractors (UNTR) posted sales of 825 units of Komatsu heavy equipment (-33.04% yoy) in 2M24. 68% of Komatsu's heavy equipment sales in February 2024 came from the mining segment, 12% from the forestry segment and 10% from the agro segment. This decline in sales was due to the correction that occurred in Indonesia, where most customers have purchased heavy equipment in the last 2 years when commodity prices were at high levels. In general, there is still a potential for an increasing demand in heavy equipment due to the coal production target of 922 mn tons in this year set by the Ministry of Energy and Mineral Resources. UNTR targets heavy equipment sales of 4,000 units in 2024. (Source : Kontan)