Ninh Binh Phosphate Fertilizer Quadruples Profits with Strategic Price Hike

Ninh Binh Phosphate Joint Stock Company (HNX: NFC) has released its Q3/2025 financial report, revealing a staggering 3.8-fold increase in net profit compared to the same period last year. This remarkable growth is attributed to the surge in both production volume and selling prices of phosphate and NPK fertilizers, coupled with a significant boost in financial income from deposit interest.

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NFC’s Q3/2025 Business Targets

In Q3, NFC achieved a net revenue of VND 197 billion, an increase of nearly 8% year-on-year. According to the company’s explanation, the revenue growth was driven by a 3.5% rise in sales volume and a 25% increase in powdered phosphate prices; NPK prices also rose by over 14%.

Meanwhile, the cost of goods sold decreased by more than 4%, to VND 144 billion. As a result, NFC‘s gross profit surged by 64% year-on-year, reaching over VND 52 billion.

Financial income saw a significant increase, reaching over VND 2.2 billion, 6.5 times higher than the same period last year, thanks to a sharp rise in bank deposit interest. The company reported that deposits (with terms of 1-6 months and interest rates of 4.1%-5% per annum) in the first nine months increased by VND 159 billion (equivalent to 498%) compared to the same period last year. Financial expenses only slightly increased to VND 978 million.

Selling expenses were significantly reduced by 38%, to over VND 11 billion. However, administrative expenses rose by 84%, to VND 11 billion. After deducting expenses and taxes, NFC recorded an after-tax profit of nearly VND 27 billion, 3.8 times higher than the same period last year.

For the first nine months, NFC reported a net revenue of nearly VND 1,021 billion and an after-tax profit of VND 94 billion, up 35% and 181% year-on-year, respectively. Compared to the 2025 Annual General Meeting’s plan, the company has nearly completed its revenue target at 97% and exceeded its pre-tax profit goal by 84%.

Source: VietstockFinance

As of Q3-end, NFC‘s total assets reached VND 419 billion, a 20% increase from the beginning of the year. The majority were current assets, totaling VND 412 billion, up 21%. This growth was primarily driven by a 263% increase in cash and deposits to nearly VND 236 billion, accounting for 56% of total assets.

Conversely, inventory decreased significantly by 34% from the beginning of the year, to VND 127 billion.

On the capital side, total liabilities increased slightly by 10% to VND 140 billion, mainly short-term liabilities with no borrowings.

Châu An

– 09:12 20/10/2025

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