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Industrial Services

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 Distribution, Gas Transmission, Exploration and Production of Oil and Gas, and Other Operations. The Gas Distribution segment mainly involves in gas distribution purchased from gas suppliers and then supplies to the industrial, commercial and household customers. The Gas Transmission segment handles gas transmission for customers. The Exploration and Production of Oil and Gas segment explores, exploits, and develops business for oil and gas. The Other Operations segment provides processing of liquefied natural gas, fiber optic rental for network services and constructions; 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 2019 IDRUSD
Revenue54,427.07B3,848.71M
Gross Profit14,448.41B1,021.69M
Operating income7,324.26B517.92M
Income before tax3,958.27B279.90M
Net income955,748.00M67.58M
EBITDA13,644.07B964.81M
Diluted EPS39.450.00
Dividends Per Share41.560.00
Total Assets102,365.57B7,373.71M
Total liabilities57,465.39B4,139.41M
Total equity35,551.22B2,560.86M
Operating cash flow12,632.00B893.25M
Currency in IDRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 41,113.33B 39,033.75B 47,780.99B 55,100.13B 54,427.07B
Gross Profit 11,150.69B 10,072.82B 11,769.51B 15,175.01B 14,448.41B
Operating income 7,606.65B 5,943.43B 6,480.74B 8,826.85B 7,324.26B
Income before tax 5,936.76B 5,120.45B 5,592.79B 8,327.15B 3,958.27B
Net income 5,374.97B 4,047.63B 2,634.93B 4,342.09B 955,748.00M
EBITDA 11,599.31B 10,121.74B 14,235.51B 16,409.13B 13,644.07B
Diluted EPS 267.94 172.90 108.66 179.09 39.45
Dividends Per Share 91.32 75.18 31.61 56.99 41.56
Total Assets 89,533.88B 92,073.12B 111,025.29B 114,166.74B 102,365.57B
Total liabilities 47,864.52B 49,362.69B 52,543.76B 68,123.55B 57,465.39B
Total equity 41,635.60B 42,615.87B 50,754.83B 37,021.84B 35,551.22B
Operating cash flow 7,974.95B 9,675.96B 10,990.66B 15,456.79B 12,632.00B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 3,068.79M 2,934.77M 3,570.59M 3,870.26M 3,848.71M
Gross Profit 832.31M 757.33M 879.51M 1,065.90M 1,021.69M
Operating income 567.77M 446.86M 484.29M 620.00M 517.92M
Income before tax 443.13M 384.98M 417.94M 584.90M 279.90M
Net income 401.19M 304.32M 196.90M 304.99M 67.58M
EBITDA 865.79M 761.01M 1,063.79M 1,152.58M 964.81M
Diluted EPS 0.02 0.01 0.00 0.01 0.00
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 6,495.02M 6,834.15M 8,183.18M 7,939.27M 7,373.71M
Total liabilities 3,472.21M 3,663.95M 3,872.76M 4,737.38M 4,139.41M
Total equity 3,020.35M 3,163.17M 3,740.91M 2,574.53M 2,560.86M
Operating cash flow 595.26M 727.49M 821.31M 1,085.69M 893.25M

Valuation Measures

Dec 2019
PER54.99
ROA0.88%
ROE2.63%
Operating margin13.45%
Profit margin1.75%

Key executives

  • President Director: Gigih Prakoso Soewarto
  • Finance Director: Arie Nobelta Kaban
  • Director-Technology & Infrastructure: Redy Ferryanto
  • Head-Information Communication &Technology: M Irwan Santoso
  • Head-Financial Control & Group Management: Joko Heru Sutopo

Shareholders

  • Government of Indonesia (56.9%)
  • Norges Bank Investment Management (1.7%)
  • The Vanguard Group, Inc. (1.5%)
  • Fidelity Management & Research Co. LLC (1.0%)
  • BlackRock Fund Advisors (0.7%)
  • PT Schroder Investment Management Indonesia (0.3%)
  • Dimensional Fund Advisors LP (0.3%)
  • APG Asset Management NV (0.3%)
  • PT Indo Premier Securities (Investment Management) (0.3%)
  • TOBAM SAS (0.3%)

Contact Details

Related Companies

  • 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 Telekomunikasi Indonesia (Persero) Tbk. Class B
Last Updated on 24 Sep, 2020

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