PT Garuda Indonesia (Persero) Tbk
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
Financial Highlights
Dec 2021 | IDR | USD |
Revenue | 19,107.65B | 1,336.67M |
Gross Profit | -14,468.86B | -1,012.17M |
Operating income | -18,187.99B | -1,272.34M |
Income before tax | -64,792.29B | -4,532.55M |
Net income | -59,457.28B | -4,159.34M |
EBITDA | -184,379.40M | -12.89M |
Diluted EPS | -2,296.90 | -0.16 |
Dividends Per Share | 0 | 0 |
Total Assets | 102,514.60B | 7,192.74M |
Total liabilities | 189,598.22B | 13,302.80M |
Total equity | -86,546.05B | -6,072.34M |
Operating cash flow | 1,179.30B | 82.49M |
Currency in IDR | Currency in USD |
Historical Data
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 55,900.10B | 61,651.54B | 64,664.47B | 21,701.02B | 19,107.65B |
Gross Profit | 6,829.77B | 3,392.77B | 9,742.71B | -19,856.18B | -14,468.86B |
Operating income | -1,482.10B | -3,749.13B | 1,634.66B | -26,342.21B | -18,187.99B |
Income before tax | -2,116.74B | -4,077.32B | 17,467.05M | -37,700.55B | -64,792.29B |
Net income | -2,898.26B | -3,290.91B | -550,626.47M | -35,525.98B | -59,457.28B |
EBITDA | 457,867.83M | -1,215.49B | 4,208.05B | -4,155.37B | -184,379.40M |
Diluted EPS | -112.00 | -127.13 | -21.21 | -1,372.29 | -2,296.90 |
Dividends Per Share | 0 | 0 | 0 | 0 | 0 |
Total Assets | 51,058.46B | 59,755.72B | 185,284.15B | 151,599.22B | 102,514.60B |
Total liabilities | 38,339.35B | 50,555.30B | 177,548.62B | 178,898.71B | 189,598.22B |
Total equity | 12,139.95B | 8,608.10B | 7,592.02B | -26,971.57B | -86,546.05B |
Operating cash flow | -736,157.74M | 412,533.53M | 7,260.54B | 1,605.22B | 1,179.30B |
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 4,177.32M | 4,330.44M | 4,572.63M | 1,492.33M | 1,336.67M |
Gross Profit | 510.37M | 238.31M | 688.93M | -1,365.46M | -1,012.17M |
Operating income | -110.75M | -263.34M | 115.59M | -1,811.49M | -1,272.34M |
Income before tax | -158.18M | -286.39M | 1.23M | -2,592.58M | -4,532.55M |
Net income | -216.58M | -231.15M | -38.93M | -2,443.04M | -4,159.34M |
EBITDA | 34.21M | -85.37M | 297.56M | -285.75M | -12.89M |
Diluted EPS | -0.00 | -0.00 | -0.00 | -0.09 | -0.16 |
Dividends Per Share | 0 | 0 | 0 | 0 | 0 |
Total Assets | 3,763.29M | 4,155.47M | 13,346.59M | 10,789.98M | 7,192.74M |
Total liabilities | 2,825.82M | 3,515.66M | 12,789.38M | 12,733.00M | 13,302.80M |
Total equity | 894.78M | 598.61M | 546.87M | -1,919.68M | -6,072.34M |
Operating cash flow | -55.01M | 28.97M | 513.41M | 110.38M | 82.49M |
Valuation Measures
Dec 2021 | |
PER | -- |
ROA | -46.79% |
ROE | -- |
Operating margin | -95.18% |
Profit margin | -311.17% |
Key executives
- President & Chief Executive Officer: Irfan Setiaputra
- Operation Director & VP-Flight Operation: Tumpal Manumpak Hutapea
- Director-Finance & Risk Management: Prasetio
- Vice President-Information Technology Management: Ditya Firmansyah
- Vice President-Corporate Legal & Compliance: Mega Hapsari Ramadhani
Shareholders
- Government of Indonesia (17.1%)
- PT Trans Airways (7.9%)
- Dimensional Fund Advisors LP (0.0%)
- SSgA Funds Management, Inc. (0.0%)
- DFA Australia Ltd. (0.0%)
Contact Details
- Website:http://www.garuda-indonesia.com
- Address: Management Building, Garuda City, Soekarno-Hatta International Airport, Tangerang, 15111, Indonesia
- Phone: +62.21.2351.9999
Related Companies
- PT Garuda Indonesia Singapore
- Garuda Indonesia Global Sukuk Ltd.
- Garuda Indonesia Ltd.
- PT Citilink Indonesia
- Koperasi Karyawan Garuda Indonesia Group
- PT Aero Systems Indonesia
- PT Garuda Maintenance Facility Aero Asia
- PT Aerowisata
- Garuda Indonesia (Italy)
Competitors
- Capital A Berhad
- Cathay Pacific Airways Limited
- Singapore Airlines Ltd.
- China Southern Airlines Company Limited Class H
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