UNTR – Already spent 50% of 2023 capex

UNTR – Already spent 50% of 2023 capex United Tractors (UNTR), has spent 50% of its 2023 capex or around USD600 mn (equal to IDR9.17 tn) in 1H23. UNTR had set USD1.2 bn or equal to IDR18 tn for 2023' capex and will continue to use it for; a) mining contractor business line (USD800-900 mn), b) gold business line (USD190 mn), c) coal mining business line (USD60 mn), and d) the rest of 2023' capex is for heavy equipment business. In 1H23, UNTR' Komatsu heavy equipment sales increased to 3,551 units (+4% yoy), Scania commercial vehicle sales increased to 526 units (+328% yoy), but its UD Trucks sales declined to 195 units (-34% yoy). Note that, UNTR targets its Komatsu sales to reach 5,800-6,000 units in 2023. (Source : Bisnis Indonesia)