HEXA revenue drops following the plummeting heavy equipment sales
JAKARTA. The massive decline in heavy equipment sales of PT Hexindo Adiperkasa Tbk (HEXA) of 44.99% drags its revenue down by 37.79% to USD 264.01 million from USD 424.43 million last year.
The company’s financial report in March 2021 shows the heavy equipment and commission services sales significantly fall by 44.99% year-on-year (yoy) to USD 136.07 million recorded throughout April 2020-March 2021. The spare parts sales also plummet by 32.93% to USD 68.35 million, while the income from maintenance and repair services decreases 19.57% to USD 58.88 million.
On the other hand, HEXA has a new source of income from the heavy equipment leasing services of USD 12,654. However, the revenue drop entails the shrinking current year’s profit of 33.41% to USD 25.59 million from USD 38.43 million last year.
Djonggi Gultom, the President Director of HEXA, claims that the demand for heavy equipment in Q2 2021 gradually increases following the price increment of mining goods throughout 2021. Therefore, the management aims to attain the target of 30% revenue growth this year, as Gultom stated through Bisnis earlier. (AM/ZH)