According to the recently announced semi-annual financial report for 2022, PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo, stock code DPM) has maintained a positive growth momentum in its production and business activities.
In the first 6 months of 2022, facing volatile, complicated, and unpredictable world market and geopolitical situation, PVFCCo has carefully prepared, accurately forecasted, and made the most of market opportunities. To optimize production and business efficiency, achieving revenue of about VND 10,000 billion and pre-tax profit of over VND 4,000 billion (parent company).
In production, PVFCCo has been actively taking the initiative and storing many raw materials, along with highly skilled personnel in operation and reasonable maintenance. Phu My Fertilizer Plant and PVFCCo's factory has operated safely and continuously, and the output has reached more than 600 thousand tons of fertilizers and chemicals of all kinds, an increase of more than 30% compared to the same period in 2021. In particular, the Plant has been in operation for nearly 2 decades, but the factory has achieved proud achievements when operating continuously for a long time and creating a new records. As of July 28, 2022, the Ammonia Workshop has run for 435 days, and the Urea workshop has run continuously for 277 days. This achievement far surpassed the previous record in 2016 of the Plant when running continuously for 279 days for the Ammonia Workshop and 192 days for the Urea Workshop. The factory also produced and brought to market many new products, typically the Phu My NPK line containing beneficial microorganisms, successfully produced for the first time in Vietnam.
Regarding business, the Corporation's total trading volume of fertilizer and chemical products reached nearly 700,000 tons, an increase of more than 8% compared to the same period in 2021. In the fertilizer market with significant price fluctuations, The supply of imported goods is disrupted due to the impact of the Russian-Ukrainian conflict, and the demand for products has decreased. The above business output growth figure is significant, reflecting the agility and correctness, right in the business decisions of PVFCCo. PVFCCo's international business has made an important step forward when achieving a large export volume, affirming its position on the world fertilizer business map and contributing to the realization of the "global enterprise" vision in the country. The General Meeting of Shareholders of TCT approved a new development strategy in the last annual meeting of 2022.
With its tradition and shared culture, PVFCCo continues implementing a series of practical and meaningful social security programs for the community, especially farmers. Typically, a series of programs in conjunction with relevant authorities guide the use of fertilizers economically and scientifically toward green and sustainable production; program "Phu My Farmer" to build the nucleus to spread advanced agricultural techniques in the community; programs to give gifts to the poor, build schools, medical stations... in all regions of the country.
The results achieved in the first 6 months of the year help PVFCCo have a solid foundation to be confident in a brilliantly successful 2022 and continue to have many more records in its development history.