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Utilities

Tenaga Nasional Bhd.

Company Background

Tenaga Nasional is a Malaysian state-controlled power company. Its main business is electricity generation and distribution of power throughout the entire country, with the exception of the state of Sarawak. It operates six thermal power stations and three hydroelectric facilities. In 2013, Tenaga used mainly gas (45.5%) and coal (40.5%) to generate electricity that accounted for more than 40% of the country's power needs. The remaining electricity is produced by independent power producers in the private sector.

Electricity is subsidized by the government. Khazanah Nasional and other state institutions own more than half of Tenaga Nasional's shareholdings. President and CEO Azman Mohd has been with the company since 1979, after serving in numerous managerial positions. Outside of Malaysia, Tenaga operates a power generation business in Kuwait and Abu Dhabi, both are run through joint ventures. The company also operates Universiti Tenaga Nasional, a private university.

Business Summary

Tenaga Nasional Bhd. engages in the generation, transmission, distribution, and sale of electricity. It offers its products and services to commercial, industrial, and residential customers. The company was founded on September 1, 1949 and is headquartered in Kuala Lumpur, Malaysia.

Financial Highlights

Dec 2021 MYRUSD
Revenue52,629.50M12,696.36M
Gross Profit14,121.90M3,406.77M
Operating income10,028.90M2,419.37M
Income before tax4,544.80M1,096.38M
Net income3,661.80M883.37M
EBITDA20,720.40M4,998.59M
Diluted EPS0.630.15
Dividends Per Share0.400.09
Total Assets188,226.10M45,181.49M
Total liabilities128,885.30M30,937.42M
Total equity56,608.40M13,588.19M
Operating cash flow11,245.30M2,712.82M
Currency in MYRCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 15,692.20M 50,392.50M 50,939.70M 43,976M 52,629.50M
Gross Profit 4,119.70M 12,116.70M 11,746.10M 11,686M 14,121.90M
Operating income 3,280M 9,675.60M 9,016.40M 8,262.10M 10,028.90M
Income before tax 2,843.50M 5,046.60M 5,425.10M 4,158.90M 4,544.80M
Net income 2,622.30M 3,723.70M 4,529.20M 3,592.70M 3,661.80M
EBITDA 5,329.90M 16,166.90M 19,205.30M 18,884.50M 20,720.40M
Diluted EPS 0.46 0.65 0.79 0.62 0.63
Dividends Per Share 0.82 0.53 0.50 0.40 0.40
Total Assets 144,250M 153,695M 178,847.20M 181,433.30M 188,226.10M
Total liabilities 85,296.90M 93,638.10M 118,533.80M 123,005.80M 128,885.30M
Total equity 57,065.80M 57,837.80M 57,981.80M 55,833.20M 56,608.40M
Operating cash flow 1,753.50M 11,288.40M 18,168.60M 13,614.10M 11,245.30M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 3,649.75M 12,487.67M 12,295.42M 10,464.96M 12,696.36M
Gross Profit 958.17M 3,002.61M 2,835.18M 2,780.91M 3,406.77M
Operating income 762.87M 2,397.69M 2,176.30M 1,966.13M 2,419.37M
Income before tax 661.35M 1,250.58M 1,309.46M 989.69M 1,096.38M
Net income 609.90M 922.76M 1,093.22M 854.95M 883.37M
EBITDA 1,239.65M 4,006.29M 4,635.62M 4,493.94M 4,998.59M
Diluted EPS 0.10 0.16 0.19 0.14 0.15
Dividends Per Share 0.19 0.13 0.12 0.09 0.09
Total Assets 35,643.68M 37,191.77M 43,722.57M 45,104.61M 45,181.49M
Total liabilities 21,076.57M 22,658.94M 28,977.82M 30,579.44M 30,937.42M
Total equity 14,100.76M 13,995.83M 14,174.74M 13,880.22M 13,588.19M
Operating cash flow 407.83M 2,797.35M 4,385.39M 3,239.74M 2,712.82M

Valuation Measures

Dec 2021
PER14.58
ROA1.98%
ROE6.51%
Operating margin19.05%
Profit margin6.95%

Key executives

  • President, CEO & Executive Director: Baharin bin Din
  • Chief Financial Officer: Nazmi bin Othman
  • Chief Information Officer: Fazil bin Ibrahim
  • Chief Grid Officer: Husaini bin Husin
  • Chief Procurement Officer: Amir Mahmod bin Abdullah

Shareholders

  • Khazanah Nasional Bhd. (Investment Company) (25.4%)
  • Employees Provident Fund (15.6%)
  • Permodalan Nasional Bhd. (9.6%)
  • Kumpulan Wang Persaraan (7.2%)
  • Bumiputra Investment Foundation (2.6%)
  • Public Mutual Bhd. (2.0%)
  • The Vanguard Group, Inc. (1.7%)
  • Great Eastern Life Assurance Co. Ltd. (1.3%)
  • Eastspring Investments (Singapore) Ltd. (1.0%)
  • BlackRock Fund Advisors (0.8%)

Contact Details

  • Website:http://www.tnb.com.my
  • Address: Pejabat Setiausaha Syarikat, Level 2, Ibu Pejabat Tenaga Nasional Berhad, Kuala Lumpur, 59200, Malaysia
  • Phone: +60.3.2296.5566

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Competitors

  • HF Co. SA
Last Updated on 15 Aug, 2022

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