On August 04th, 2020, Forbes Vietnam announced Vietnam’s 50 leading brands for 2020. The annual list was conducted and announced by Forbes Vietnam for the fifth time. Phu My fertilizer’s Brand was again one of 50 leading brands for the fifth time. It is also the only fertilizer brand to be enlisted in the Top 50 leading brands, and ranked second in the agricultural products group.
The list was conducted according to Forbes (USA) evaluation method, calculating the contribution of brand in business performance of the enterprise. The most valuable brands were those with high revenue in their industries, more than 10 years of operation, strong reputation, products with high coverage and awareness of with consumers. The value of the brand was determined based on the average P/E of the industry in the region, on the basis of the contribution of the intangible assets, the income that the brand gains for the enterprise. The numbers used in this method were obtained from the companies' published financial statements.
The above title once again affirms the value of Phu My Fertilizer brand in particular and the whole corporation in general, and also pledges that PVFCCo's development strategy is on the right track and growing stably and sustainably. The above title is significantly valuable in the context of severe drought, hasty salinization that damages a large area of crops, reducing the demand for fertilizer, causing a remarkable impact on business performance of fertilizer companies. Besides, since the beginning of 2020 up to now, the outbreak of Covid-19 epidemic has seriously affected the social life in general and the operation of enterprises in particular. In such difficult conditions, PVFCCo has well applied prevention measures against the Covid-19 epidemic, ensured that production and business activities are not held back and the employees' health are completely protected.
In the first half of 2020, the production output of Phu My Fertilizer plants and NPK Phu My plants reached over 480 thousand tons, increasing 60% over the same period, in which Phu My urea output accounted for 430 thousand tons, increasing 63% over the same period in 2019. The total consumption of fertilizers reached 550 thousand tons, rising 29% over the same period; Phu My urea output alone increased 53%, reaching more than 400 thousand tons. Phu My NPK business output increased 6% over the same period, reaching 43 thousand tons.