ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
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 commercial and Transmission, Exploration and Production of Oil and Gas, and Other Operations. The Gas commercial and Transmission segment is involved in commercial 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 2020 IDRUSD
Revenue41,960.58B2,885.53M
Gross Profit9,815.18B674.96M
Operating income4,730.57B325.31M
Income before tax-2,549.96B-175.35M
Net income-3,850.25B-264.77M
EBITDA10,442.81B718.12M
Diluted EPS-158.79-0.01
Dividends Per Share00
Total Assets105,852.50B7,533.98M
Total liabilities64,328.59B4,578.54M
Total equity31,375.57B2,233.13M
Operating cash flow7,176.53B493.51M
Currency in IDRCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 39,033.75B 47,780.99B 55,100.13B 54,427.07B 41,960.58B
Gross Profit 10,072.82B 11,769.51B 15,175.01B 14,448.41B 9,815.18B
Operating income 5,943.43B 6,480.74B 8,826.85B 7,324.26B 4,730.57B
Income before tax 5,120.45B 5,592.79B 8,327.15B 3,958.27B -2,549.96B
Net income 4,047.63B 2,634.93B 4,342.09B 955,748.00M -3,850.25B
EBITDA 10,121.74B 14,235.51B 16,409.13B 13,644.07B 10,442.81B
Diluted EPS 172.90 108.66 179.09 39.45 -158.79
Dividends Per Share 75.18 31.61 56.99 41.56 0
Total Assets 92,073.12B 111,025.29B 114,166.74B 102,365.57B 105,852.50B
Total liabilities 49,362.69B 52,543.76B 68,123.55B 57,465.39B 64,328.59B
Total equity 42,615.87B 50,754.83B 37,021.84B 35,551.22B 31,375.57B
Operating cash flow 9,675.96B 10,990.66B 15,456.79B 12,632.00B 7,176.53B
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 2,934.77M 3,570.59M 3,870.26M 3,848.71M 2,885.53M
Gross Profit 757.33M 879.51M 1,065.90M 1,021.69M 674.96M
Operating income 446.86M 484.29M 620.00M 517.92M 325.31M
Income before tax 384.98M 417.94M 584.90M 279.90M -175.35M
Net income 304.32M 196.90M 304.99M 67.58M -264.77M
EBITDA 761.01M 1,063.79M 1,152.58M 964.81M 718.12M
Diluted EPS 0.01 0.00 0.01 0.00 -0.01
Dividends Per Share 0.00 0.00 0.00 0.00 0
Total Assets 6,834.15M 8,183.18M 7,939.27M 7,373.71M 7,533.98M
Total liabilities 3,663.95M 3,872.76M 4,737.38M 4,139.41M 4,578.54M
Total equity 3,163.17M 3,740.91M 2,574.53M 2,560.86M 2,233.13M
Operating cash flow 727.49M 821.31M 1,085.69M 893.25M 493.51M

Valuation Measures

Dec 2020
PER--
ROA-3.69%
ROE-11.50%
Operating margin11.27%
Profit margin-9.17%

Key executives

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

Shareholders

  • Government of Indonesia (56.9%)
  • Norges Bank Investment Management (1.3%)
  • The Vanguard Group, Inc. (1.3%)
  • BlackRock Fund Advisors (0.6%)
  • PT Indo Premier Securities (Investment Management) (0.4%)
  • Dimensional Fund Advisors LP (0.3%)
  • Robeco Institutional Asset Management BV (0.3%)
  • TOBAM SAS (0.2%)
  • Sands Capital Management LLC (0.1%)
  • Andra AP-fonden (0.1%)

Contact Details

Related Companies

  • PT Perta Arun Gas
  • PT Gagas Energi Indonesia
  • PT PGAS Solution
  • PT Saka Energi Indonesia
  • PT PGN LNG Indonesia
  • PT PGAS Telekomunikasi Nusantara
  • PGN Euro Finance Ltd.
  • 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 3 Dec, 2021

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more