JAKARTA. PT Kobexindo Tractors Tbk (KOBX) booked a net profit of USD 6.36 million at the end of September (9M) 2022. It shifted 36% higher than the numbers recorded in the same period last year.
The increase in the net profit of KOBX went in accordance with the growth seen in its consolidated revenue, which reached USD 127.78 million in 9M 2022. It reportedly soared 42.8% year-on-year (yoy).
Andry B. Limawan, President Director of KOBX, highlighted the role of increased prices of mining commodities in the company’s achievements in 9M 2022. “Based on the performance up until this third quarter of the year, as well as the consistently high demand for heavy equipment to support the increased coal production as winter is nearing, the company is considering about revising the revenue growth target in 2022,” he explained.
The sales of heavy equipment were still the pillar business line of KOBX, as this segment contributed 78.44% of the total consolidated revenue until September 2022. It reportedly went 46.21% yoy higher.
Furthermore, the spare part sales also increased 25.95% yoy to USD 14.55 million. Then, the revenue from the repair and mining contractor services also grew 33.16% yoy to USD 8.10 million, as did the rental business by 48.87% yoy to USD 4.89 million. (KR/ZH)