Hexindo Solds 607 Units of Heavyequipment per June

Hexindo Adiperkasa (HEXA), the sole distributor of Hitachi and John Deere heavy equipment, sold 607 units of heavy equipment until June 2023. Excavator sales for forestry segment amounted 181 units or 35% of total sales, sales for agro or plantation segment reached 160 units or 31%, sales for mining segment reached 85 units or 17%, sales for construction reached 78 units or 15%, and sales for other segment reached 7 units or 1%. Meanwhile, sales of mini excavators amounted to 61 units, wheel loaders 12 units, RDT 7 units, and Bell ADT 16 units.

Previously, HEXA reported that sales and rentals of heavy equipment reached 3,447 units at the end of the 2022 financial year, or an increase of 28.8% from 2,676 units in 2021.

HEXA however expected lower demand for heavy equipment this year. Relative stable price of commodities supported demand in the first half (H1) of this year, but development of political situation in the country would affect the industry.

HEXA then targets its revenue would only grow by around 3.3% this year, with heavy equipment sales projected to decline 1.9%.  The Company said it booked net profit of US$14.18 million in H1 this year, grew 56.65% year on year (y/y) as revenues rose 26% y/y to US$143.8 million.