At the Conference on Summarizing the First 6 Months and Deploying Tasks for the Last 6 Months of 2024, held on the morning of July 5, Mr. Nguyen Huu Tu – Vice President, stated that the production value at the group of subsidiary companies of the Corporation is estimated to reach over VND 27.1 thousand billion at current prices, equivalent to 51% of the yearly plan, and an increase of 13% compared to the same period.
Mr. Nguyen Huu Tu, Vice President of Vinachem. Photo: Vinachem
|
For the whole Corporation, revenue in the first 6 months is estimated at over VND 31.3 thousand billion, a growth of 18%, fulfilling 55% of the yearly plan; combined profit is estimated at VND 815 billion.
Some member units have experienced favorable business conditions, with profit growth measured in multiples. For instance, DAP-Vinachem Joint Stock Company (UPCoM: DDV) saw a 46-fold increase compared to the same period last year; Binh Dien Fertilizer Joint Stock Company (HOSE: BFC) witnessed a 5-fold increase; Can Tho Fertilizer and Chemical Joint Stock Company (CFC) experienced a 4-fold increase; and Casumina (Southern Rubber Industry Joint Stock Company, HOSE: CSM) doubled its profit compared to the same period.
| Business Performance of DDV |
The target for state budget contributions in the first 6 months is estimated to reach over VND 1.1 thousand billion, equivalent to 62% of the yearly plan. The average number of employees is nearly 18,000, with an average salary of VND 13 million per person per month.
Estimated Combined Profit of VND 1.9 Thousand Billion for 2024
At the conference, Vinachem acknowledged the challenges posed by the upcoming dominant economic trends, including increasing supply, stagnant demand, and no significant signs of rising commodity prices.
Given these challenges, Mr. Nguyen Huu Tu revealed the targets for the last 6 months: Achieve an industrial production value of nearly VND 40 thousand billion at current prices, with an estimated total for the year of nearly VND 52.6 thousand billion, equivalent to the yearly plan; revenue is estimated at nearly VND 27 thousand billion, with a yearly estimate of nearly VND 56.6 thousand billion, equivalent to 100.1% of the plan; combined profit is estimated at nearly VND 1.1 thousand billion, with a yearly estimate of over VND 1.9 thousand billion.
Regarding the plan for the last 6 months, Mr. Phung Quang Hiep – President of Vinachem, requested that the specialized departments continue to implement the assigned tasks. For the Laos Salt Mine Project, he emphasized the determination to initiate the project in 2024.
Mr. Phung Quang Hiep, President of Vinachem. Photo: Vinachem
|
In addition, Mr. Hiep stated that Vinachem will continue to develop plans for the exploitation and processing of apatite ore for the period of 2030, with a vision towards 2040, in accordance with the Prime Minister’s master plan. The Corporation will also implement the financial restructuring plan for three fertilizer projects: Ninh Binh Fertilizer Plant; Expansion and Renovation of the Hanoi Fertilizer Plant; and DAP-2 Fertilizer Plant, with the aim to remove these projects from the list of struggling projects. Efforts will be made to accelerate the restructuring of Sovigaz and Hanoi Soap.
“Units should focus on addressing difficulties faced by the ore dressing plants, promoting production and business activities, and ensuring a stable supply of ore for the factories,” emphasized Mr. Phung Quang Hiep.
Chau An
Vinachem Chairman: 3 struggling members stabilized, Dam Ha Bac fertilizer plants capitalized
Speaking at the Conference on the Implementation of the Monetary Policy for 2024, Mr. Nguyen Phu Cuong – Chairman of the Board of Directors of Vietnam Chemical Group (Vinachem) updated on the achievements of the Group as well as the activities of its member units.
Vinachem boosts raw material production for semiconductor industry, launches potassium salt mine in Laos.
Vinachem’s chairman revealed that the Group will be implementing investments and expanding various sectors as well as relocating from the Bien Hoa industrial zone in the near future.
