COMPANY REPORT

UNTR
UNITED TRACTORS TBK.
Company Profile
UnitedTractors(UTortheCompany)wasestablishedonOctober13th,1972,asheavy
equipment distributor in Indonesia. On September 19th, 1989, the Company went public
and listed its shares in Jakarta Stock Exchange, with Astra International as the majority
shareholder (59.5%). Aside of being the largest distributor of heavy equipment in
Indonesia, UT also plays an active role in the field of mining contracting and coal mining
business. The three major business units are known as Construction Machinery, Mining
ContractingandMining.

The main activities of the Company and its subsidiaries (together, the Group) include
sales and rental of heavy equipment and related after sales services, mining and mining
contracting.Includinginminingcontractingisintegratedminingcontractingservice.

The Company is domiciled in Jakarta with 18 branches, 17 site offices and 12

representativeofficesthroughoutIndonesia.TheheadofficeislocatedatJln.RayaBekasi
Km.22,Cakung,Jakarta.

Thebusinessunitisalsosupportedbyaseriesofsubsidiariesthatproviderelatedproducts
and services, such as United Tractors Pandu Engineering that produces attachment and
component for heavy equipment; Komatsu Remanufacturing Asia (KRA) that provides
enginereconditioningandremanufacturing;BinaPertiwithatdistributesfarmtractorsand
Multi Prima Universal that provides equipments for rent as well as sales of secondhand
equipments.

The Mining Contracting business unit is managed through one of the Companys
subsidiaries,PamapersadaNusantara(Pama).Establishedin1988,Pamaprovidesarange
of worldclass coal mining services that extends from mine design, exploration, mining,
hauling,bargingandloading.Operatinginmajorcoalminingprojectsinvariouspartsofthe
country, Pama is widely known as the largest and most commendable coal mining
contractorinIndonesia.

Mining business unit refers to UTs venture as coal mine operator or coal concession
owner. Currently, UT operates two coal concessions, which are Dasa Eka Jasatama, a
subsidiary of Pama, located in Rantau, South Kalimantan; and Tuah Turangga Agung,
locatedinKapuas,CentralKalimantan.

AsofJune30th,2011,theGrouphadapproximately19,463employees.

August 2011
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the
publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the
publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or
otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

United Tractors Tbk. [S]

UNTR

COMPANY REPORT : JULY 2011

As of 29 July 2011
Individual Index
:
84.007
3,730,135,136
Listed Shares
:
Market Capitalization : 101,832,689,212,800

Main Board
Industry Sector : Trade, Services & Investment (9)
Industry Sub Sector : Wholesale (Durable & Non-Durable Goods) (91)
COMPANY HISTORY
Established Date

: 13-Oct-1972

Listing Date

: 19-Sep-1989

Under Writer IPO :

SHAREHOLDERS (July 2011)

DIVIDEND ANNOUNCEMENT

PT Aseam Indonesia
PT Inter-Pacific Securities

2,219,317,358 : 59.50%

1. PT Astra International Tbk.

Year

Bonus
Shares

Cash
Devidend

Cum
Date

Ex
Date

Recording
Date

Payment
Date F/I

PT Aseam Indonesia

1989

100.00

05-Jan-90

06-Jan-90

11-Jan-90

31-Jan-90

PT Danareksa Sekuritas

1990

165.00

08-Jun-90

11-Jun-90

15-Jun-90

29-Jun-90

PT Merchant Investment Corporation

1990

175.00

20-Nov-90

21-Nov-90

28-Nov-90

12-Dec-90

PT Merincorp S.I.

1990

185.00

06-Jun-91

07-Jun-91

14-Jun-91

28-Jun-91 F

PT Danareksa

1991

175.00

20-Nov-91

21-Nov-91

28-Nov-91

12-Dec-91

1991

175.00

12-Jun-92

15-Jun-92

22-Jun-92

Securities Administration Bureau :

I
I

22-Jul-92 F

PT Raya Saham Registra

1992

70.00

11-Nov-92

12-Nov-92

19-Nov-92

Plaza Central Building 2nd Fl.

1992

160.00

16-Jun-93

17-Jun-93

25-Jun-93

Jln. Jend. Sudirman Kav. 47-48 Jakarta

1993

100.00

11-Nov-93

12-Nov-93

19-Nov-93

15-Dec-93

Phone : 252-5666

1994

23-Feb-94

24-Feb-94

03-Mar-94

01-Apr-94

1:3

15-Dec-92

23-Jul-93 F
I

1993

50.00

15-Jun-94

16-Jun-94

23-Jun-94

23-Jul-94 F

1994

40.00

11-Nov-94

16-Nov-94

23-Nov-94

15-Dec-94 F

BOARD OF COMMISSIONERS
1. Prijono Sugiharto

1994

70.00

22-Jun-95

23-Jun-95

03-Jul-95

1995

45.00

22-Nov-95

23-Nov-95

01-Dec-95

2. Anugerah Pekerti *)
3. Benjamin William Keswick

1995

85.00

20-Jun-96

21-Jun-96

01-Jul-96

1996

60.00

21-Nov-96

22-Nov-96

02-Dec-96

1996

100.00

26-Jun-97

27-Jun-97

07-Jul-97

Fax

: 252-5028

31-Jul-95 F
29-Dec-95

31-Jul-96 F
27-Dec-96

4. Simon Collier Dixon

5. Soegito *)

2000

08-Jun-00

09-Jun-00

14-Jun-00

23-Jun-00

6. Stephen Z. Satyahadi *)

2004

20.00

30-Nov-04

01-Dec-04

03-Dec-04

17-Dec-04

2005

35.00

23-Jun-05

22-Jun-05

27-Jun-05

11-Jul-05

2005

110.00

12-Jun-06

13-Jun-06

15-Jun-06

29-Jun-06 F

2006

45.00

13-Oct-06

16-Oct-06

18-Oct-06

03-Nov-06

2006

85.00

20-Jun-07

21-Jun-07

25-Jun-07

*) Independent Commissioners
BOARD OF DIRECTORS
1. Djoko Pranoto

5:9

28-Jul-97 F
I

08-Jul-07 F
I

2. Edhie Sarwono
3. Gidion Hasan

2007

60.00

10-Oct-07

11-Oct-07

18-Oct-07

01-Nov-07

2007

150.00

10-Jun-08

11-Jun-08

13-Jun-08

27-Jun-08 F

4. Hendrik Koesnadi Hadiwinata

5. Iman Nurwahyu

2008

100.00

23-Oct-08

24-Oct-08

28-Oct-08

11-Nov-08

2008

220.00

11-Jun-09

12-Jun-09

16-Jun-09

26-Jun-09 F

6. Loudly Irwanto Ellias

AUDIT COMMITTEE
1. Anugerah Pekerti
2. Candelario Tambis
3. Zeth Manggopa

2009

330.00

14-Jun-10

15-Jun-10

17-Jun-10

2010

160.00

27-Oct-10

28-Oct-10

01-Nov-10

12-Nov-10

2010

430.00

31-May-11

01-Jun-11

06-Jun-11

13-Jun-11 F

Sara K. Loebis

Jln. Raya Bekasi Km. 22, Cakung

19-Sep-89

19-Sep-89

26-Dec-89

27-Feb-91

27-May-91 :
25-Mar-92

06-Jun-11

04-Apr-94 :
05-Sep-00

26-Jun-00

4. Company Listing
5. Bonus Shares
6. Stock Split

Fax

8. ESOP Conversion II

: ir@unitedtractors.com

Trading
Date

2,700,000

7. ESOP Conversion

Email

Listing
Date

8,436,000

Phone : (021) 460-5949, 460-5959, 460-5979

Homepage : www.unitedtractors.com

Shares

1. First Issue

Jakarta - 13910
: (021) 460-0657, 460-0677

2. Partial Listing
3. Right Issue

HEAD OFFICE

01-Jul-10 F

ISSUED HISTORY
Type of Listing

CORPORATE SECRETARY

2,151,579,636 T:
11,864,000
351,900,000 T:
1,159,200,000
1,201,500 T:
43,254,000 T:

27-May-03 :
11-Jun-03 :

01-Apr-92
05-Sep-00
12-Jun-03
14-Jul-05

United Tractors Tbk. [S]

Volume
(Mill. Sh)

28,000

42

24,000

36

20,000

30

16,000

24

12,000

18

8,000

12

4,000

Jan 07

Jan 08

Jan 09

Jan 10

Jan 11

CHANGE OF CLOSING PRICE

TRADE INDEX AND JAKARTA COMPOSITE INDEX
JANUARY 2007 - JULY 2011
360%

360%

300%

300%

Jakarta Composite Index

Trade Index
Closing Price

240%
%

240%
%

180%

180%

120%

120%

60%

60%

-60%

-120%
Jan 07

-60%

Jan 08

SHARES TRADED

Jan 09

Jan 10

Jan 11

-120%

Volume (Million Shares)

Value (Billion Rp)
Frequency (X)
Days

2007
1,827
14,796
91,595
246

2008
2,522
22,179
237,050
240

2009
1,649
16,246
207,682
241

2010
1,235
23,438
236,866
245

Jul-11
844
19,316
178,819
144

Price (Rupiah)
High
Low
Close
Close*

11,700
6,300
10,900
10,429

14,700
2,350
4,400
4,400

16,750
4,375
15,500
15,500

26,100
14,950
23,800
23,800

27,750
19,800
27,300
27,300

20.82
13.95
5.42

5.50
8.30
1.32

13.05
17.60
3.85

20.44
23.38
4.91

20.06
23.48
4.10

PER (X)
PER Industry (X)
PBV (X)

* Adjusted price after corporate action

TRADING ACTIVITIES
Closing Price
Month
High
Low Close
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-00
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-00
Jan-09
Feb-09
Mar-09
Apr-09
M 09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-00
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-00
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11

Freq.
(X)

Volume
Value
(Thou. Sh) (Million Rp)

Day

CLOSING PRICE* AND TRADING VOLUME

UNITED TRACTORS TBK. [S]
JANUARY 2007 - JULY 2011

Closing
Price*

UNTR

7,750 6,350 6,750

7,550 6,300 6,950
7,450 6,650 7,400
8,250 7,350 7,900
7,850 7,000 7,550
8,250 7,150 8,250
9,200 8,150 8,600
8,600 6,550 8,100
8,650 7,650 8,200
11,550 8,200 10,950
11,700 10,350 11,250
11,250 10,100 10,900

11,764
9,776
5,176
5,947
7,473
5,932
4,474
8,492
6,790
11,808
8,177
5,786

224,012
195,086
135,054
143,643
177,826
147,817
102,941
148,910
122,551
232,802
112,238
84,065

1,533,355
1,340,299
958,057
1,130,603
1,321,799
1,127,656
897,460
1,119,681
996,503
2,234,064
1,234,371
901,687

22
20
21
20
21
20
22
22
20
20
22
16

14,250
13,900
13,100
12,950
14,700
14,450
12,850
11,700
10,750
9,000
5,425
4,975

10,300
12,400
10,050
11,200
12,200
11,250
9,100
9,400
7,300
2,350
2,850
3,275

13,300
13,250
12,550
12,050
14,450
12,150
11,400
10,350
9,450
3,150
3,975
4,400

20,240
11,632
15,228
12,893
11,139
25,222
21,044
13,033
15,858
19,156
40,161
31,444

271,138
172,469
174,111
133,641
120,664
189,330
168,457
109,994
191,734
325,295
389,892
275,301

3,248,039
2,301,916
2,033,982
1,592,095
1,623,819
2,388,929
1,823,853
1,136,171
1,816,020
1,599,424
1,459,782
1,154,740

20
19
18
22
20
21
22
20
21
18
20
19

5,800
5,950
7,000
9,250
10 500
10,500
11,450
13,050
14,100
15,700
16,750
16,100
15,950

4,375
4,700
4,900
6,250
8 600
8,600
9,550
9,800
11,800
12,900
14,300
14,200
14,750

5,050
5,350
6,750
9,000
10 150
10,150
9,950
12,950
13,500
15,600
15,000
14,950
15,500

24,458
15,235
13,069
17,430
20 815
20,815
17,585
18,928
15,414
13,377
17,584
17,502
16,285

207,419
133,489
131,983
172,272
188 869
188,869
178,470
145,556
119,831
81,245
108,519
98,396
83,063

1,038,896
707,290
758,369
1,297,068
1 773 945
1,773,945
1,884,053
1,610,315
1,547,477
1,161,713
1,692,289
1,505,184
1,268,935

19
20
20
20
20
22
21
20
18
22
20
19

18,850
17,400
19,050
20,100
19,600
19,700
20,300
20,200
20,850
22,250
26,100
24,650

15,500
14,950
16,700
18,250
15,650
17,100
18,000
18,250
18,400
20,200
21,600
22,200

16,850
17,150
18,350
19,500
18,350
18,750
20,150
18,400
20,450
22,200
23,000
23,800

25,109
21,752
20,634
17,980
29,283
19,858
14,949
19,188
19,053
16,905
17,125
15,030

137,915
113,284
133,516
97,846
152,795
92,824
70,228
106,866
85,272
80,634
85,068
78,465

2,367,106
1,855,232
2,353,927
1,885,482
2,656,423
1,714,404
1,352,063
2,023,497
1,697,651
1,675,683
2,008,087
1,848,169

20
19
22
21
19
22
22
21
17
21
21
20

26,600
23,600
24,550
23,500
24,550
25,000
27,750

19,800
21,300
19,900
21,300
21,550
22,500
24,350

21,350
23,200
21,700
23,250
23,000
24,900
27,300

35,213
20,039
38,544
22,269
22,746
17,639
22,369

184,338
86,752
156,803
94,830
107,066
107,180
107,048

4,118,210
1,962,451
3,481,506
2,115,683
2,428,895
2,491,370
2,717,984

21
18
23
20
21
20
21

United Tractors Tbk. [S]

UNTR

Financial Data and Ratios

Public Accountant : Tanudiredja, Wibisana & Rekan (Member of PricewaterhouseCoopers Global Network)
BALANCE SHEET

Dec-2007

Dec-2008

Dec-2009

Dec-2010

Jun-2011

Cash & Cash Equivalents

1,036,406

3,324,942

2,769,187

1,343,220

7,833,867

Receivable

3,007,519

3,470,549

4,549,566

5,349,688

8,176,116

Book End : December

TOTAL ASSETS AND LIABILITIES

(Million Rp except Par Value)

(Billion Rupiah)
41,250

Assets

Liabilities

33,000

Inventories

2,121,187

Current Assets

7,036,656 12,883,590 11,969,001 15,532,762 21,843,403

Fixed Assets

5,527,058

Other Assets

2,844

Total Assets

5,246,343

3,966,358

6,931,631

4,676,709

9,505,248 11,835,726 13,261,374 17,824,856

4,961

13,002,619 22,847,721 24,404,828 29,700,914 40,777,786

Growth (%)

75.72%

6.82%

21.70%

37.29%

24,750
16,500
8,250
-

Current Liabilities

5,253,733

7,874,135

7,225,966

9,919,225 11,717,183

Long Term Liabilities

1,962,699

3,770,781

3,227,782

3,616,283

Total Liabilities

7,216,432 11,644,916 10,453,748 13,535,508 15,941,088

Growth (%)
Minority Interest
Authorized Capital
Paid up Capital
Paid up Capital (Shares)

2007

2008

61.37%

-10.23%

29.48%

17.77%

52,852

71,198

107,370

29,068

1,500,000

1,500,000

1,500,000

1,500,000

1,500,000

712,902

831,719

831,719

831,719

932,534

2,852

3,327

3,327

3,327

3,730

250

250

Retained Earnings

4,320,054

6,243,117

Total Equity

5,733,335 11,131,607 13,843,710 16,136,338 24,836,698

Growth (%)
INCOME STATEMENTS
Total Revenues

Dec-2007

Gross Profit
Operating Expenses
Operating Profit

250

24,837

19,869

16,136
13,844

250

8,896,251 11,139,012 12,672,280

94.16%

24.36%

16.56%

53.92%

Dec-2008

Dec-2009

Dec-2010

Jun-2011

53.60%

4.80%

11,132
9,935

5,733
4,967

2007

3,247,387

5,499,204

6,671,059

6,795,698

4,439,940

850,200

1,340,541

1,502,315

1,633,177

1,096,874

2,397,187

4,158,663

5,168,744

5,162,521

3,343,066

73.48%

24.29%

-0.12%

Income before Tax

-354,875

-312,258

266,390

-123,852

123,138

2,048,361

3,851,947

5,444,238

5,061,260

3,473,507

Tax

542,315

1,166,512

1,594,543

1,186,745

934,898

Minority Interest

-13,009

-24,693

-32,154

-1,584

1,493,037

2,660,742

3,817,541

3,872,931

2,538,609

78.21%

43.48%

1.45%

Net Income
Growth (%)
RATIOS

2009

2010

Jun-11

TOTAL REVENUES (Billion Rupiah)

37,324
37,324

27,903

29,859

22,394

Other Income (Expenses)

2008

27.64%

14,918,211 22,403,992 22,570,824 30,528,174 21,178,755

Growth (%)

Jun-11

24,837

18,165,598 27,903,196 29,241,883 37,323,872 25,618,695

Growth (%)
Expenses

250

2010

TOTAL EQUITY (Billion Rupiah)

,90
14,902

Par Value

2009

4,223,905

Dec-2007

Dec-2008

Dec-2009

Dec-2010

Jun-2011

133.94

163.62

165.64

156.59

186.42

Dividend (Rp)

210.00

320.00

330.00

590.00

EPS (Rp)

523.58

799.77

1,147.48

1,164.13

680.57

BV (Rp)

2,010.56

3,345.96

4,161.17

4,850.30

6,658.39

DAR (X)

0.55

0.51

0.43

0.46

0.39

DER(X)

1.26

1.05

0.76

0.84

0.64

25,619

18,166

14,930

7,465

2007

Current Ratio (%)

29,242

2008

2009

2010

Jun-11

NET INCOME (Billion Rupiah)

3,818

3,873

3,873

2,661

3,098

2,539

2,324

ROA (%)

15.75

16.86

22.31

17.04

8.52

ROE (%)

35.73

34.60

39.33

31.37

13.99

GPM (%)

17.88

19.71

22.81

18.21

17.33

OPM (%)

13.20

14.90

17.68

13.83

13.05

NPM (%)

8.22

9.54

13.06

10.38

9.91

40.11

40.01

28.76

50.68

1.93

7.27

2.13

2.48

Payout Ratio (%)

Yield (%)

1,493
1,549

775

2007

2008

2009

2010

Jun-11