The Impact of Russia-Ukraine War on the Financial Performance of PT United Tractors (UT), Indonesia for the Period of 2021-2022

The Russia-Ukraine war has led to disruptions in global supply chains and increasing majority of commodity price including coal. These coal price increases come on top of already tight commodity markets due to a solid demand recovery from the pandemic, as well as numerous pandemic-related supply constraints. PT. United Tractors Tbk is a subsidiary of PT. Astra International Tbk that focuses on heavy equipment, mining and energy. For the last ten years, more than 50% of the revenue has been generated from the mining industry, especially coal mining that automatically get benefits from this conflict. This study examines the impact of the Russia-Ukraine war on the financial performance of PT. United Tractors Tbk using a combination of quantitative analysis comparation before and during the war, years 2021-2022. The study analyzes financial data from UNTR's annual reports and financial statements, as well as from secondary data, such as industry reports and news articles. The study will review and compare the financial performance between 2021 and 2022 represented by using four key ratios, such as Liquidity Ratio, Profitability Ratio, Activity Ratio, Solvency Ratio. The comparation reveals that PT. United Tractors Tbk has been impacted by the Russia-Ukraine on positive way, it can be considered as a wind fall both for the company and investor.