JAKARTA. The management of PT Kobexindo Tractors Tbk (KOBX) reported its net profit proliferating 295.58% year-on-year (yoy) from USD 996,976 to USD 3,94 million in Q1 2022.
In the official statement yesterday (16/5), Andry B. Limawan, President Director of Kobexindo Tractors, claimed that this net profit gain went in accordance with the skyrocketing revenue of 106.23% higher to USD 46.52 million from USD 22.56 million in Q1 2021.
The consolidated sales of KOBX was supported by its heavy equipment segment, generating USD 38.14 million or 135% higher, the most extensive growth of all other segments. Therefore, it brought the contribution of heavy equipment sales to 82% of the total revenue. Meanwhile, the spare part segment covered another 10.24% of the revenue, scoring USD 4.76 million, while the mining contractor and maintenance segment was responsible for another 4.5% of the revenue, amounting to USD 2.10 million, and the leasing segment generated USD 1.51 million or 3.25% of the total revenue.
In comparison to the consolidated sales, the company was also burdened with costs of revenue of USD 37.57 million, bringing the total gross profit to USD 8.97 million, operating profit USD 4.38 million, and profit before taxes USD 4.20 million. The company also reported an increase in profit-before-taxes margin from 4.66% to 9.03%, while the net profit margin almost doubled from 4.44% last year to 8.51% in Q1 2022.
With these massive growth, Limawan expressed his optimism in securing 20% growth target this year, especially considering how the heavy equipment trades are on the rise as the mining sector continues to gain strength. (AM/ZH)