PT Gudang Garam Tbk
In the news
- Calata's trouble sparks investor activism in the Philippines Dec 7, 2017
- Calata's trading violation sparks investor activism in the Philippines Dec 1, 2017
- Widodo lowers economic growth ambitions in 2018 budget Aug 16, 2017
- Indonesian consumer stocks sink as earnings disappoint Aug 1, 2017
- 'Jokowi effect' blunted by economic slowdown May 2, 2015 See more articles on PT Gudang Garam Tbk
Company Background
Gudang Garam is one of Indonesia's leading cigarette manufacturers, best known for its kretek clove cigarettes. But its share of the domestic market has steadily declined over the last decade to around 20%, as the company comes under pressure from rivals such as HM Sampoerna, which was acquired by Philip Morris in 2005.
The company also faces regulatory headwinds. The government frequently raises cigarette taxes, and now requires producers to put warning labels on packages to alert people to the dangers of smoking.
Surya Wonowidjojo, a Chinese Indonesian businessman, founded Gudang Garam in 1958. The success of his business made him and his family among wealthiest people in Indonesia. His son Susilo became president in 2009. Several family members sit on the board of directors and serve as commissioners. Less than a third of Gudang Garam's shares are publicly traded.
In addition to its core cigarette business, the company owns a media company and a charter airline.
Business Summary
Financial Highlights
| Dec 2019 | IDR | USD |
| Revenue | 110,523.81B | 7,815.50M |
| Gross Profit | 22,158.05B | 1,566.86M |
| Operating income | 14,789.99B | 1,045.84M |
| Income before tax | 14,487.73B | 1,024.47M |
| Net income | 10,880.70B | 769.41M |
| EBITDA | 17,319.57B | 1,224.72M |
| Diluted EPS | 5,654.99 | 0.39 |
| Dividends Per Share | 0 | 0 |
| Total Assets | 78,647.27B | 5,665.20M |
| Total liabilities | 27,716.51B | 1,996.50M |
| Total equity | 50,930.70B | 3,668.69M |
| Operating cash flow | 11,174.40B | 790.17M |
| Currency in IDR | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 32,684.55B | 33,671.85B | 33,685.30B | 35,626.22B | 110,523.81B |
| Gross Profit | 15,077.55B | 16,110.67B | 17,658.84B | 18,075.87B | 22,158.05B |
| Operating income | 9,906.24B | 9,972.31B | 11,118.63B | 11,093.27B | 14,789.99B |
| Income before tax | 8,635.27B | 8,931.13B | 10,436.51B | 10,479.24B | 14,487.73B |
| Net income | 6,435.65B | 6,677.08B | 7,753.64B | 7,791.82B | 10,880.70B |
| EBITDA | 11,653.81B | 12,057.88B | 13,362.62B | 13,358.00B | 17,319.57B |
| Diluted EPS | 3,345 | 3,470 | 4,030 | 4,049.61 | 5,654.99 |
| Dividends Per Share | 2,600 | 2,600 | 2,600 | 2,600 | 0 |
| Total Assets | 63,505.41B | 62,951.63B | 66,759.93B | 69,097.21B | 78,647.27B |
| Total liabilities | 25,497.50B | 23,387.40B | 24,572.26B | 23,963.93B | 27,716.51B |
| Total equity | 37,900.08B | 39,487.01B | 42,171.08B | 45,133.23B | 50,930.70B |
| Operating cash flow | 3,200.82B | 6,937.65B | 8,204.57B | 11,224.70B | 11,174.40B |
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 2,439.64M | 2,531.64M | 2,517.24M | 2,502.40M | 7,815.50M |
| Gross Profit | 1,125.42M | 1,211.29M | 1,319.61M | 1,269.66M | 1,566.86M |
| Operating income | 739.42M | 749.77M | 830.87M | 779.19M | 1,045.84M |
| Income before tax | 644.55M | 671.49M | 779.90M | 736.06M | 1,024.47M |
| Net income | 480.37M | 502.02M | 579.41M | 547.30M | 769.41M |
| EBITDA | 869.86M | 906.58M | 998.56M | 938.27M | 1,224.72M |
| Diluted EPS | 0.24 | 0.26 | 0.30 | 0.28 | 0.39 |
| Dividends Per Share | 0.19 | 0.19 | 0.19 | 0.18 | 0 |
| Total Assets | 4,606.84M | 4,672.60M | 4,920.57M | 4,805.09M | 5,665.20M |
| Total liabilities | 1,849.65M | 1,735.93M | 1,811.11M | 1,666.47M | 1,996.50M |
| Total equity | 2,749.37M | 2,930.93M | 3,108.24M | 3,138.61M | 3,668.69M |
| Operating cash flow | 238.91M | 521.61M | 613.11M | 788.42M | 790.17M |
Valuation Measures
| Dec 2019 | |
| PER | 9.37 |
| ROA | 14.72% |
| ROE | 22.65% |
| Operating margin | 13.38% |
| Profit margin | 9.84% |
Key executives
- President Director: Susilo Wonowidjojo
- Director-Finance: Herry Susianto
- Director: Buana Susilo
- Independent Director: Sony Sasono Rahmadi
- Secretary & Director: Heru Budiman
Shareholders
- WONOWIDJOJO FAMILY (75.5%)
- The Vanguard Group, Inc. (0.8%)
- WONOWIDJOJO JUNI SETIAWATI (0.5%)
- Eastspring Investments (Singapore) Ltd. (0.5%)
- BlackRock Fund Advisors (0.4%)
- FIL Investment Management (Singapore) Ltd. (0.3%)
- Brandes Investment Partners LP (0.3%)
- PT Schroder Investment Management Indonesia (0.3%)
- Dimensional Fund Advisors LP (0.2%)
- Vontobel Asset Management, Inc. (0.1%)
Contact Details
- Website:http://www.gudanggaramtbk.com
- Phone: +62.21.2955.7000
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Last Updated on 19 Oct, 2020
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