The Fertilizer and Chemical Company Reports Hefty Profits for the First Half

Financial report statistics show that the giants in the fertilizer and chemical industry have mostly reported positive growth in their business performance.

The most notable performer is the Ca Mau Petroleum Fertilizer Joint Stock Company (Ca Mau Fertilizer, code DCM) with a revenue of VND 3,863 billion, an increase compared to the same period last year. With an additional VND 176 billion mainly from surplus profits from the purchase of Han Viet Fertilizer Plant (KVF), DCM’s net profit reached VND 569 billion, nearly double that of the previous year.

In the first half of the year, Ca Mau Fertilizer recorded a revenue of VND 6,607 billion and a net profit of VND 915 billion, an increase of 10% and 69%, respectively, compared to the same period last year. Compared to the plan approved at the 2024 Annual General Meeting of Shareholders, DCM achieved 56% of the revenue target and exceeded the full-year net profit plan by nearly 16%.

Another giant, Phu My Fertilizer (code: DPM), reported a net profit of VND 239 billion in Q2, 2.3 times higher than the previous year. The growth drivers were the recovery in fertilizer prices and cost savings. As a result, half-year profit after tax reached VND 503 billion, equivalent to completing 93% of the annual plan.

Among the members of the Vietnam Chemical Corporation (Vinachem), Binh Dien Fertilizer (code BFC) has just reported a record net profit of VND 232 billion in the first half of the year, 7.5 times higher than the same period last year.

Some other members of Vinachem also had positive business results: Lam Thao Superphosphate and Chemical Joint Stock Company (code LAS) with a net profit of VND 67 billion, twice as much as the previous year; Southern Basic Chemicals (code CSV) with a Q2 profit of VND 69 billion, an increase of 38%; and DAP-Vinachem Joint Stock Company (code DDV) with an impressive Q2 profit of VND 64 billion, 72 times higher than the same period last year, and the fifth-highest quarterly profit since its listing on UPCoM in 2015.

Meanwhile, Duc Giang Chemical Group (code: DGC) remained the industry leader in net profit in Q2 with VND 842 billion, but this figure slightly decreased by 3% compared to the previous year. This profit level was only surpassed during the peak period of 2021-2022. In the first six months of the year, Duc Giang Chemical recorded a net profit of VND 1,515 billion, a decrease of 7% compared to the same period.