A brief review of United Tractors’ performance 2023

United Tractors is a subsidiary of PT Astra International Tbk (“Astra”), one of Indonesia’s most prominent and leading business groups with a service network spanning various industries and sectors. Since September 19 September 19, 1989, United Tractors has been a public company, listing its shares on the Indonesia Stock Exchange (formerly the Jakarta Stock Exchange and the Surabaya Stock Exchange). Until now, Astra owns 59.5% of United Tractors’ shares, with the remaining shares owned by the public. United Tractors has developed into one of the leading players in the domestic sector and industry through five business pillars, namely Construction Machinery, Mining Contractors, Mining, Construction Industry, and Energy.

As of June 23 June 23, 2024, United Tractors’ stock price is traded at IDR 21.625, and if compared to last year’s stock price, September 18, 2023, the stock price was traded at IDR 28.775, this shows that United Tractors’ stock price has a significant downward trend. The downward trend in stock prices for the mining and energy sector in 2024 compared to 2023 is likely due to a combination of falling commodity prices, economic slowdowns, regulatory pressures, technological shifts towards renewables, geopolitical risks, changing investor preferences towards ESG criteria, operational challenges, and company-specific issues. These factors can contribute to reduced profitability and investor confidence, leading to a decline in stock prices. The dividend United Tractors Tbk 2023 is 1: 1.569. This dividend is lower than the dividend in 2022, which was 1: 6.185. The decrease in dividend payments in the 2023 financial year was due to the coal price, which entered a new equilibrium, according to the Director of PT United Tractors, Tbk Iwan Hadiantoro. One of the factors considering dividends is balancing the company’s capital expenditure funding needs and future investment possibilities. Also, a decrease in revenue, coupled with higher financial costs and foreign exchange losses, caused a reduction in the company’s net profit.