PT Perusahaan Gas Negara Tbk (PGAS) investor relations material

Executive summary

• Consolidated revenues for 9M-2025 grew to USD 2.923 million, mainly from gas trading, but higher LNG procurement costs and forex losses pressured net profit.

• Net profit was USD 238 million, down 14% year-over-year, with another report noting net profit at USD 338.6 million.

• Financial position and EBITDA coverage ratio indicate stability, with strong liquidity and cash equivalents of USD 1.28 billion as of September 2025.

• Capex was executed prudently, focusing on LNG terminal, gas pipeline, and infrastructure projects, totaling over USD 174 million.

Financial highlights

• Revenue reached USD 2.923 million, up 4% year-over-year, with net profit at USD 238 million and EBITDA at USD 729 million, both down year-over-year.

• Total assets were USD 6.141 million, with cash and equivalents at USD 1.278 million as of September 2025.

• Operating cash flow remained strong, supporting a healthy cash position.

• Cost of revenues rose to USD 2.42 billion, reflecting higher gas purchase costs and infrastructure expenses.

• Total equity stood at USD 3.61 billion, and total liabilities at USD 2.53 billion.

Outlook and guidance

• Global and national energy trends are shifting toward cleaner energy, positioning natural gas as a key transition fuel.

• Strategic focus on infrastructure expansion, LNG development, and low-carbon business aligns with Indonesia’s energy transition goals.

• Management expects continued growth in gas trading and infrastructure, with ongoing investments in LNG and pipeline projects.

• The company is monitoring regulatory changes on gas pricing and expects stable demand from industrial and power sectors.