LiuGong Drives INTA Heavy Equipment Sales Growth
By : Nata Kesuma | Saturday, January 01 2022 - 15:40 IWST
PT Intraco Penta Tbk (“INTA”)
INDUSTRY.co.id - Jakarta, PT Intraco Penta Tbk (“INTA”), a public listed company of heavy equipment/construction equipment & its supporters managed to record growth for its heavy equipment sales by November 2021, one of which was driven by the increased sales of LiuGong brand heavy equipment.
As of November 2021, INTA's heavy equipment sales were recorded at IDR247,1 billion, an increase of 19% compared to the same period in the previous year. Meanwhile, sales of LiuGong brand heavy equipment were recorded at IDR100,1 billion, or an increase of 559% compared to the same period in 2020.
Eddy Rodianto, as Director of INTA said, "We are grateful that towards the end of 2021, INTA's heavy equipment sales are starting to recover and showing a positive trend. The increase in sales of heavy equipment was also driven by increased demand for sectors outside of mining, such as agriculture, forestry, plantations, general industry, infrastructure, transportation, and oil and gas. Until the end of November 2021, sales of heavy equipment outside the mining sector has increased by 25%. We are optimistic that until the end of the year, heavy equipment sales will continue the good trend, along with the improving economy and the progress of infrastructure projects in Indonesia.”
Meanwhile, in terms of performance until the third quarter of 2021, INTA Group recorded revenue of IDR443,8 billion. INTA's revenue as of September 2021 is still dominated by sales of heavy equipment and spare parts. However, INTA continues to strive for performance improvements for all business lines in the future.
This is in line with the business consolidation efforts that will continue to be carried out by the Company in assisting all of its subsidiaries, including one of its subsidiaries, namely IBFN where the Company assisted in finding new investors and improving performance for the following years.
Furthermore, Eddy explained, in the future INTA will continue to capture new opportunities not only from the heavy equipment sales business, but also from other business lines such as the fabrication and infrastructure business lines, as well as the power generation business line. From the fabrication and infrastructure business lines through its subsidiary PT Columbia Chrome Indonesia (CCI), in 2022, the Solo-Yogya toll road project will continue. In addition, CCI will also enter oil and gas projects such as manufacturing Pertashop/Fabricator, and manufacturing high pressure Compressor Tanks.
“Besides continuing to strengthen our core business, we will also optimize and encourage the performance of all business lines and subsidiaries. In addition to capturing new opportunities from the fabrication and infrastructure business, our power generation business line is also fully operational and able to fulfill sales contracts to PLN. It is expected that the new projects that will be carried out, and the good performance of each subsidiary can make a positive contribution to INTA's performance going forward," Eddy concluded.