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Energy Minerals

Petrovietnam Gas JSC

Company Background

PetroVietnam Gas is one of Vietnam's largest state-run companies. A member of Vietnam National Oil and Gas Group, PetroVietnam Gas is the largest natural gas company in the country. PetroVietnam Gas runs integrated operations, from drilling for gas through to marketing. It controls nearly 70% of the domestic market for liquefied petroleum gas and has a market capitalization of about $9 billion, making it one of the largest publicly traded Vietnamese companies.

PetroVietnam Gas was listed on the Hochiminh Stock Exchange in 2012. It is 97% owned by the Vietnamese government with the remainder held mostly by foreign investors. Prime Minister Nguyen Tan Dung has plans to sell off a 20% interest in the company.

Because of its high domestic market share, PetroVietnam Gas boasts formidable price bargaining power. Its net profit margin is more than 10%. In 2013, the company was compelled to slash prices amid public criticism that it was making too much money.

The company is actively pursuing a policy of collaborating with foreign companies. In June 2014, it signed a liquefied natural gas trading contract with Royal Dutch Shell. In 2012, it teamed up with Tokyo Gas.

President and CEO Do Khang Ninh, 54, is an expert on oil transport and storage and earned a masters degree in Russia.

Business Summary

PetroVietnam Gas JSC engages in gathering, manufacturing, storing, distributing, and trading gas products. Its products include liquefied petroleum gas, dry gas, condensate, compressed natural gas, and liquefied natural gas. The firm also provides transportation, engine conversion, and maintenance and repair services for gas facility equipment. The company was founded on September 20, 1990 and is headquartered in Ho Chi Minh city, Vietnam.

Financial Highlights

Dec 2019 VNDUSD
Revenue75,005.29B3,229.11M
Gross Profit16,565.39B713.17M
Operating income13,648.96B587.61M
Income before tax15,068.26B648.71M
Net income11,754.97B506.07M
EBITDA16,340.31B703.48M
Diluted EPS6,141.790.26
Dividends Per Share5,8000.24
Total Assets62,178.78B2,683.30M
Total liabilities12,548.42B541.52M
Total equity48,506.96B2,093.29M
Operating cash flow14,151.20B609.23M
Currency in VNDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 64,300.20B 59,076.19B 64,522.44B 75,611.54B 75,005.29B
Gross Profit 13,396.59B 11,128.29B 14,843.05B 17,159.52B 16,565.39B
Operating income 10,807.05B 8,576.98B 11,745.47B 13,724.70B 13,648.96B
Income before tax 11,198.63B 9,152.24B 12,588.03B 14,539.92B 15,068.26B
Net income 8,272.97B 6,783.22B 9,556.03B 11,312.77B 11,754.97B
EBITDA 13,915.25B 11,885.86B 14,458.76B 16,553.20B 16,340.31B
Diluted EPS 4,367 3,548 4,994 5,910.75 6,141.79
Dividends Per Share 3,500 4,000 4,000 4,000 5,800
Total Assets 56,714.60B 56,753.85B 61,889.34B 62,614.42B 62,178.78B
Total liabilities 13,794.18B 15,860.72B 18,597.48B 15,726.66B 12,548.42B
Total equity 41,061.64B 39,113.71B 41,489.66B 45,072.75B 48,506.96B
Operating cash flow 10,164.35B 6,031.65B 15,510.81B 13,780.26B 14,151.20B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 2,932.67M 2,641.43M 2,840.29M 3,283.75M 3,229.11M
Gross Profit 611.00M 497.57M 653.39M 745.22M 713.17M
Operating income 492.89M 383.49M 517.03M 596.05M 587.61M
Income before tax 510.75M 409.21M 554.12M 631.45M 648.71M
Net income 377.32M 303.29M 420.65M 491.30M 506.07M
EBITDA 634.66M 531.44M 636.47M 718.89M 703.48M
Diluted EPS 0.19 0.15 0.21 0.25 0.26
Dividends Per Share 0.15 0.17 0.17 0.17 0.24
Total Assets 2,522.33M 2,492.37M 2,725.32M 2,699.47M 2,683.30M
Total liabilities 613.48M 696.53M 818.94M 678.01M 541.52M
Total equity 1,826.17M 1,717.69M 1,827.01M 1,943.20M 2,093.29M
Operating cash flow 463.58M 269.68M 682.79M 598.46M 609.23M

Valuation Measures

Dec 2019
PER15.25
ROA18.83%
ROE25.12%
Operating margin18.19%
Profit margin15.67%

Key executives

  • Chief Executive Officer & Director: Son Manh Duong
  • Head-Finance Division: Luan Cong Nguyen
  • Deputy Chief Executive Officer: Huy Quoc Nguyen
  • Deputy Chief Executive Officer: Nghi Thanh Nguyen
  • Deputy Chief Executive Officer: Quang Ngoc Bui

Shareholders

  • Government of Vietnam (95.7%)
  • Seafarer Capital Partners LLC (0.5%)
  • Dragon Capital Management Co. Ltd. (0.2%)
  • Norges Bank Investment Management (0.2%)
  • Capital Asset Management Co., Ltd. (0.2%)
  • Sumitomo Mitsui DS Asset Management Co., Ltd. (0.1%)
  • Daiwa Asset Management (Singapore) Ltd. (0.0%)
  • Asset Management One Co., Ltd. (0.0%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.0%)
  • Grantham, Mayo, Van Otterloo & Co. LLC (0.0%)

Contact Details

  • Website:http://www.pvgas.com.vn
  • Address: 12F, 12AF & 15F PV Gas Tower, 673 Nguyen Huu Tho Street, Ho Chi Minh City, 70000, Vietnam
  • Phone: +84.28.3781.6777

Related Companies

  • PetroVietnam Steel Pipe JSC
  • PetroVietnam Low Pressure Gas Distribution JSC

Competitors

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