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United Tractors reports H1 2026 profit drop amid gold and coal sales decline
PT United Tractors Tbk (UNTR) reported a decline in financial performance for the first half of 2026. Net revenue fell 15% to Rp58.3 trillion, while net profit (excluding non-recurring items) dropped 48% year-on-year to Rp4.3 trillion.
The downturn was primarily driven by a significant decrease in gold sales from the Martabe Gold Mine, managed by PT Agincourt Resources, which saw gold equivalent sales drop to 32,000 ounces through July 2026 from 143,000 ounces in the previous year. This decline was due to a temporary five-month suspension of operations, though the mine resumed activity in the second quarter of 2026. Additionally, the heavy equipment and thermal coal segments were impacted by national coal budget allocations (RKAB).
To mitigate these challenges and reduce reliance on coal, UNTR is diversifying into minerals. The company is targeting gold production of approximately 65,000 ounces for 2026. Strategic moves include the February 2026 acquisition of PT Arafura Surya Alam, which holds the Doup mine in North Sulawesi; production at this site is expected to begin in 2029. Furthermore, the company is exploring investment opportunities in coking coal to serve the steel industry.
Entities
Iwan Hadiantoro · Martabe Gold Mine · PT Agincourt Resources · PT Arafura Surya Alam · PT United Tractors Tbk
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The company is exploring investments in coking coal for the steel industry. katadata.co.id
- [● 2 SOURCES] PT United Tractors Tbk reported a 15% decrease in net revenue for the first half of 2026, totaling Rp58.3 trillion. www.dunia-energi.com · rmol.id
- [● 2 SOURCES] Net profit excluding non-recurring items fell 48% year-on-year to Rp4.3 trillion in the first half of 2026. www.dunia-energi.com · rmol.id
- [○ 1 SOURCE] The Doup mine in North Sulawesi is expected to begin production in 2029. rmol.id
- [○ 1 SOURCE] United Tractors acquired 100 percent of PT Arafura Surya Alam in February 2026. rmol.id
- [● 2 SOURCES] Gold equivalent sales reached 32,000 ounces through July 2026, compared to 143,000 ounces in the same period last year. www.dunia-energi.com · rmol.id
- [● 2 SOURCES] The Martabe Gold Mine resumed operations during the second quarter reporting period. www.dunia-energi.com · rmol.id
- [○ 1 SOURCE] United Tractors targets gold production and sales of approximately 65,000 ounces for the full year 2026. rmol.id