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Utilities

PT Perusahaan Gas Negara Tbk

Company Background

State-owned Perusahaan Gas Negara is Indonesia's largest natural gas transmitter and distributor. The majority of the company's shares are owned by the Indonesian government, and PGN's largest customer is the power generation industry, which accounts for about 40% of total sales.

 

PGN went public in 2003, and is currently has one of the largest companies by market value on the Indonesia Stock Exchange. The company made headlines earlier this year after a government minister revealed plans to merge PGN with Pertamina, another state-owned oil and gas company. The plan was later canceled due to after backlash from various government officials and employees.

 

Having spent most of his career in the financial industry, Hendi Prio Santoso joined PGN from JP Morgan Securities Indonesia in 2007 as director of finances. In 2008, he was appointed president. The company has since shifted toward upstream businesses, acquiring gas and oil blocks both domestically and abroad.

Business Summary

PT Perusahaan Gas Negara Tbk engages in the distribution and transmission of natural gas. It operates through the following business segments: Gas trading and Transmission, Exploration and Production of Oil and Gas, and Other Operations. The Gas commercial and Transmission segment is involved in trading and transmission of gas and processing of LNG to industrial, commercial and household customers. The Exploration and Production of Oil and Gas segment explores, exploits, and develops business for oil and gas. The Other Operations segment provides fiber optic rental for network services and constructions and maintenance services to the customers and management and leasing buildings and equipment. The company was founded in May 13, 1965 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2021 IDRUSD
Revenue43,400.68B3,036.10M
Gross Profit8,284.44B579.53M
Operating income5,964.28B417.23M
Income before tax6,689.12B467.93M
Net income4,343.12B303.82M
EBITDA12,030.19B841.57M
Diluted EPS179.110.01
Dividends Per Share124.420.00
Total Assets107,049.79B7,510.94M
Total liabilities60,231.41B4,226.02M
Total equity35,992.54B2,525.34M
Operating cash flow9,653.70B675.32M
Currency in IDRCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 47,780.99B 55,100.13B 54,427.07B 41,960.58B 43,400.68B
Gross Profit 11,769.51B 15,175.01B 14,448.41B 9,815.18B 8,284.44B
Operating income 6,480.74B 8,826.85B 7,324.26B 4,730.57B 5,964.28B
Income before tax 5,592.79B 8,327.15B 3,958.27B -2,549.96B 6,689.12B
Net income 2,634.93B 4,342.09B 955,748.00M -3,850.25B 4,343.12B
EBITDA 14,235.51B 16,409.13B 13,644.07B 10,442.81B 12,030.19B
Diluted EPS 108.66 179.09 39.45 -158.79 179.11
Dividends Per Share 31.61 56.99 41.56 0 124.42
Total Assets 111,025.29B 114,166.74B 102,365.57B 105,852.50B 107,049.79B
Total liabilities 52,543.76B 68,123.55B 57,465.39B 64,328.59B 60,231.41B
Total equity 50,754.83B 37,021.84B 35,551.22B 31,375.57B 35,992.54B
Operating cash flow 10,990.66B 15,456.79B 12,632.00B 7,176.53B 9,653.70B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 3,570.59M 3,870.26M 3,848.71M 2,885.53M 3,036.10M
Gross Profit 879.51M 1,065.90M 1,021.69M 674.96M 579.53M
Operating income 484.29M 620.00M 517.92M 325.31M 417.23M
Income before tax 417.94M 584.90M 279.90M -175.35M 467.93M
Net income 196.90M 304.99M 67.58M -264.77M 303.82M
EBITDA 1,063.79M 1,152.58M 964.81M 718.12M 841.57M
Diluted EPS 0.00 0.01 0.00 -0.01 0.01
Dividends Per Share 0.00 0.00 0.00 0 0.00
Total Assets 8,183.18M 7,939.27M 7,373.71M 7,533.98M 7,510.94M
Total liabilities 3,872.76M 4,737.38M 4,139.41M 4,578.54M 4,226.02M
Total equity 3,740.91M 2,574.53M 2,560.86M 2,233.13M 2,525.34M
Operating cash flow 821.31M 1,085.69M 893.25M 493.51M 675.32M

Valuation Measures

Dec 2021
PER7.67
ROA4.07%
ROE12.89%
Operating margin13.74%
Profit margin10.00%

Key executives

  • President Director: Muhamad Haryo Yunianto
  • Director-Sales & Operations: Faris Aziz
  • Director-Finance & Risk Management: Fadjar Harianto Widodo
  • Group Head-Engineering & Technology: Suseno
  • Head-Information & Communication Technology: M Irwan Santoso

Shareholders

  • Government of Indonesia (56.9%)
  • The Vanguard Group, Inc. (1.2%)
  • BlackRock Fund Advisors (0.6%)
  • PT Indo Premier Securities (Investment Management) (0.4%)
  • OKOWORLD LUX SA (0.4%)
  • Dimensional Fund Advisors LP (0.3%)
  • APG Asset Management NV (0.3%)
  • Norges Bank Investment Management (0.3%)
  • Robeco Institutional Asset Management BV (0.2%)
  • SSgA Funds Management, Inc. (0.1%)

Contact Details

Related Companies

  • PT Permata Graha Nusantara
  • PT Gagas Energi Indonesia
  • PT PGAS Solution
  • PT Saka Energi Indonesia
  • PT PGN LNG Indonesia
  • PT PGAS Telekomunikasi Nusantara
  • PGN Euro Finance Ltd.
  • PT Pertamina Gas
  • Santos Ltd. /Maleo Field Gas Reserves Ops/
  • PGN Euro Finance 2003 Ltd.
  • PT Transportasi Gas Indonesia

Competitors

  • PT Telkom Indonesia (Persero) Tbk Class B
Last Updated on 8 Aug, 2022

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