ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconFacebook IconIcon FacebookGoogle Plus IconLayer 1InstagramCreated with Sketch.Linkedin IconIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerIcon Opinion QuotePositive ArrowIcon PrintRSS IconIcon SearchSite TitleTitle ChevronTwitter IconIcon TwitterYoutube Icon
Transportation

PT GARUDA INDONESIA PERSERO

  • 296.00 IDR
  • -2.00
  • -0.67%
  • Indonesia
    Apr 19, 2018
  • Ticker
    JKT(GIAA)
  • Prev. close
    298
  • Market cap (IDR)
    7,714.19B
  • Market cap (USD)
    559.73M
  • Shares
    25,886.57M

Company Background

Garuda Indonesia is having a rough go. After suffering from widening losses due to rising fuel prices and a weak home currency, the flag carrier was forced to cancel new routes connecting Jakarta to India and the Philippines. The airline has also postponed selling its stake in budget carrier Citilink Indonesia.

The setbacks have been major blows to a company that had been on track to alleviating debt that had been mounting since 1997, when the Asian currency crisis hit. Struggling to repay loans, the government in 2005 appointed Emirsyah Satar, a former vice president of local lender Bank Danamon, as president and CEO. The airline has since restructured its debt. And in 2011, it held an initial public offering.

Satar will end his second-five year term in 2015. The government still owns about 60% of Garuda's shares.

Garuda, which made its virgin flight in 1949, had a fleet of 140 aircraft flying to 64 destinations at the end of 2013.

Business Summary

PT Garuda Indonesia (Persero) Tbk engages in the provision of passenger and cargo air transportation services. It operates through the following segments: Flight Operations, Aircraft Maintenance Services, and Other Operations. The Flight Operations segment offers domestic and international flight services. The Aircraft Maintenance Services segment provides aircraft maintenance and repair services. The company was founded on March 31, 1950 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2017 IDRUSD
Revenue55,900.10B4,177.32M
Gross Profit6,829.77B510.37M
Operating income-1,482.10B-110.75M
Income before tax-2,116.74B-158.18M
Net income-2,898.26B-216.58M
EBITDA457,867.83M34.21M
Diluted EPS-112.00-0.00
Dividends Per Share----
Total Assets51,058.46B3,763.29M
Total liabilities38,339.35B2,825.82M
Total equity12,139.95B894.78M
Operating cash flow-736,157.74M-55.01M
Currency in IDRCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 39,278.69B 46,666.64B 51,110.33B 51,391.72B 55,900.10B
Gross Profit 5,767.91B 2,571.13B 7,998.62B 7,792.60B 6,829.77B
Operating income 131,854.31M -4,256.90B 1,114.70B 904,346.83M -1,482.10B
Income before tax 142,653.86M -5,415.27B 1,428.95B 236,623.55M -2,116.74B
Net income 112,693.68M -4,390.15B 1,024.62B 107,325.83M -2,898.26B
EBITDA 1,820.59B -2,111.20B 3,502.90B 3,169.87B 457,867.83M
Diluted EPS 4.97 -175.58 39.65 4.12 -112.00
Dividends Per Share 0 0 0 -- --
Total Assets 36,421.31B 38,555.48B 45,628.50B 50,354.40B 51,058.46B
Total liabilities 22,720.57B 27,663.28B 32,522.78B 36,748.56B 38,339.35B
Total equity 13,491.78B 10,694.42B 12,868.58B 13,375.57B 12,139.95B
Operating cash flow 1,691.59B -489,192.78M 2,635.01B 1,531.49B -736,157.74M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 3,759.45M 3,933.53M 3,814.98M 3,863.92M 4,177.32M
Gross Profit 552.05M 216.72M 597.03M 585.89M 510.37M
Operating income 12.62M -358.81M 83.20M 67.99M -110.75M
Income before tax 13.65M -456.45M 106.66M 17.79M -158.18M
Net income 10.78M -370.04M 76.48M 8.06M -216.58M
EBITDA 174.25M -177.95M 261.46M 238.32M 34.21M
Diluted EPS 0.00 -0.01 0.00 0.00 -0.00
Dividends Per Share 0 0 0 -- --
Total Assets 2,992.71M 3,113.07M 3,310.01M 3,737.56M 3,763.29M
Total liabilities 1,866.93M 2,233.61M 2,359.28M 2,727.67M 2,825.82M
Total equity 1,108.61M 863.49M 933.52M 992.80M 894.78M
Operating cash flow 161.90M -41.23M 196.68M 115.14M -55.01M

Valuation Measures

Dec 2017
PER--
ROA-5.71%
ROE-22.71%
Operating margin-2.65%
Profit margin-5.18%

Key executives

  • President & Chief Executive Officer: Pahala Nugraha Mansury
  • Director-Operations: Triyanto Moeharsono
  • Director-Finance & Risk Management: Helmi Imam Satriyono
  • Director: Nicodemus P. Lampe
  • Director: Sigit Muhartono

Shareholders

  • Government of Indonesia (60.5%)
  • PT Trans Airways (25.6%)
  • Dimensional Fund Advisors LP (0.5%)
  • SSgA Funds Management, Inc. (0.0%)
  • Dimensional Fund Advisors Ltd. (0.0%)
  • Mercer Global Investments Europe Ltd. (0.0%)
  • Goldman Sachs Asset Management LP (0.0%)

Contact Details

Related Companies

  • PT Garuda Indonesia Singapore
  • Garuda Indonesia Global Sukuk Ltd.
  • Garuda Indonesia Ltd.
  • Kokarga
  • PT Aero Systems Indonesia
  • PT Garuda Maintenance Facility Aero Asia
  • PT Aerowisata
  • Garuda Indonesia (Italy)

Competitors

  • ANA Holdings Inc.
  • China Eastern Airlines Corporation Limited Class H
  • Cathay Pacific Airways Limited
  • Thai Airways International Public Co. Ltd.
  • Singapore Airlines Ltd.
  • Asiana Airlines Inc.
  • Japan Airlines Co., Ltd.
  • China Southern Airlines Company Limited Class H
Last Updated on 19 Apr, 2018

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

Get unlimited access
NAR site on phone, device, tablet

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

3 months for $9

Get unlimited access
NAR site on phone, device, tablet

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media