Hexindo (HEXA) Profit Soars 115.24 Percent, Stimulates Heavy Equipment Production

Heavy equipment company PT Hexindo Adiperkasa Tbk. ( HEXA ) recorded a good performance in the financial year April 2021 to March 2022. Citing data from the annual financial statements ending March 31, 2022, on Friday (1/7/2022), HEXA posted revenue of US$463.26 million, an increase of 75.47 percent compared to the same period the previous year of US$264.01 million. HEXA’s increased revenue helped boost current year’s profit to US$55.08 million as of March 2022, a 115.24 percent jump over the same period the previous year of US$25.59 million.

In this period, sales of heavy mining equipment recorded the largest increase, which rose 553.27 percent, from US$3.78 million in the previous year to US$24.7 million. Meanwhile, sales of heavy equipment in plantations and timber also increased 13.51 percent to US$28.59 million, from the previous US$25.19 million. Meanwhile, sales of heavy construction equipment also recorded an increase from US$4.90 million to US$8.09 million, or up 65.03 percent.

Details of sales of heavy equipment and spare parts as well as repair services include sales of Hitachi Construction Machinery Africa which posted the largest sales of US$1.47 million, followed by Hitachi Construction Machinery Africa Japan worth US$74,206, Hitachi Construction Machinery Singapore US$64,120, PT Hexa Finance Indonesia US$41,080 and Hitachi Construction Machinery Indonesia worth US$12,059. Sales of spare parts and maintenance and repair services also increased by 57.78 percent to US$29.92 million and 7.45 percent to US$18.48 million, respectively.

HEXA also received income from rental services of US$86,220, where last year the post did not record any revenue. Also Read: JCI Opens Bowed, CBMF, BALL & HEXA Still Give Money HEXA’s total assets at the end of March 2022 were recorded at US$306.64 million or an increase of 19.67 percent compared to the end of March 2021, which was US$256.22 million. Meanwhile, equity decreased 9.15 percent to US$159.70 million while liabilities increased 76.9 percent to US$144.95 million. In a previous business report, Corporate Secretary of Corp Planning & Hexindo Adiperkasa, Listiana, said that the strategy of HEXA’s subsidiary, PT Hitachi Construction Machinery Indonesia (HCMI) to increase the production of excavators.

This is done in line with the increasing demand due to the increasing demand for coal from the European Union. “Every manufacturer and dealer of heavy equipment is trying their best to respond to the current extraordinary market demand, including Hexindo,” Listiana told Bisnis recently. The company claims to have sold at least a large amount of heavy equipment in the next 6 months.

Source: https://market.bisnis.com/read/20220701/192/1550349/laba-hexindo-hexa-melesat-11524-persen-pacu-produksi-alat-berat