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Reports and Assessment of the Board
of Management
The Board of Management’s assessment of the performance of the Board of General Directors of the Company
In 2022, facing global economic, political, and social crises, as well as a complex and unpredictable fertilizer market, PVCFC focused on implementing its business plan and core tasks assigned by the shareholders’ meeting. The company implemented many flexible and effective solutions to cope with market changes, achieving notable results, including:
REGARDING THE PRODUCTION-BUSINESS
In the past year, PVCFC proactively responded to market developments, oil price fluctuations, and domestic and global markets. The company achieved its production, sales, revenue, and profit targets as follows:
- Total revenue reached VND 16,240.76 billion, fulfilling 112% of the plan and increasing by 62% compared to the same period in 2021.
- » Pre-tax profit reached VND 4,596.31 billion, fulfilling 118% of the plan and increasing by 162% compared to the same period in 2021.
- » After-tax profit reached VND 4,321.08 billion, fulfilling 118% of the plan and increasing by 137% compared to the same period in 2021.
REGARDING CORPORATE GOVERNANCE
Successfully implementing internal control, enterprise management, risk management, optimizing cost savings, and being proactive and flexible in operational management are important tasks.
To improve efficiency and professionalism in management, the company has strengthened the application of science and technology.
To improve efficiency and professionalism in management, the company has strengthened the application of science and technology.
REGARDING THE FINANCE AND INVESTMENT
The company optimized the efficiency of capital usage to serve its plans and strategies. PVCFC continued to implement its investment projects according to plan to ensure progress and efficiency.
REGARDING OPERATION - PRODUCTION
- The plant has maintained safe, stable and efficient operation. In 2022, PVCFC successfully carried out the overall maintenance and took on many renovation projects to increase operating capacity at the Ca Mau Fertilizer Plant.
- » The production volume of urea reached 918,080 tons, achieving 102% of the plan and 102% compared to the same period in 2021. The production volume of NPK reached 115,030 tons, which is 139% higher than the same period in 2021.
- » The urea consumption volume was 844,080 tons, achieving 106% of the plan and 113% compared to the same period in 2021. The NPK consumption volume also reached an impressive level, recording 83,670 tons.
- The urea consumption reached 844.08 thousand tons, achieving 106% of the plan and 113% compared to the same period in 2021.
REGARDING THE HR DEVELOMENT AND BUILDING CORPORATE CULTURE
In 2022, PVCFC actively implemented training and development activities for high-quality human resources, creating conditions to maximize the potential and talents of the workforce to meet the increasing demands of the fertilizer industry in the context of deep and wide integration on global scale.
Also, in the same year, the company issued the Code of Business Conduct (COC), which is regarded as a successful “handbook” for self-improvement and organizational development, serving as a guiding principle for all activities of PVCFC, contributing to creating its own corporate culture, building a dynamic and engaging working environment that fosters cohesion among all employees of the company.
Also, in the same year, the company issued the Code of Business Conduct (COC), which is regarded as a successful “handbook” for self-improvement and organizational development, serving as a guiding principle for all activities of PVCFC, contributing to creating its own corporate culture, building a dynamic and engaging working environment that fosters cohesion among all employees of the company.
EVALUATION RELATING OT THE ENVIRONMENTAL AND SOCIAL RESPONSIBILITIES
In 2022, PVCFC has effectively implemented environmental protection activities, applying measures and initiatives in production and business to minimize environmental pollution and respond to climate change.
Fuel and energy are used in a cost-effective and rational manner. All factory waste is strictly controlled and minimized in terms of quantity and quality, meeting the regulated standards before being released into the environment.
Moreover, PVCFC also pioneers in fulfilling social responsibilities through volunteer programs that contribute to the development of education, take care of policy families, support the poor, build new rural areas, and work together for a better quality of life and a more sustainable community.
Fuel and energy are used in a cost-effective and rational manner. All factory waste is strictly controlled and minimized in terms of quantity and quality, meeting the regulated standards before being released into the environment.
Moreover, PVCFC also pioneers in fulfilling social responsibilities through volunteer programs that contribute to the development of education, take care of policy families, support the poor, build new rural areas, and work together for a better quality of life and a more sustainable community.
The Board of Management’s assessment of the performance of the Board of General Directors of the Company
Pursuant to the Company’s Charter and internal regulations on Corporate governance, the Board of Management has inspected and supervised the activities of the General Director and Executive Board in managing production and business and implementing resolutions of the resolutions of the General Meeting of Shareholders and the Board of Management in 2022, as follows:
Supervising method
- The Board of Management assigned each member of the Board of Management to be in charge of each specific area and through the Committees, to supervise the General Director and Executive Board in organizing, implementing and executing resolutions of the Board of Management.
- Attending regular meetings of the Executive Board on business activities and quarterly briefings.
- The supervision of the activities of the General Director and the Executive Board was carried out regularly and continuously by the Board of Management, ensuring the smooth management of all activities of the Company.
Supervising content
- Supervising production and business activities, implementation of Resolutions/Decisions, policies of the Board of Management, the work assurance for employees, labor safety, Covid disease control situation, human rights, salary and bonus regime...
- Updating and issuing Resolutions, Decisions and Regulations under the authority of the Board of Management in accordance with the new situation and decentralization of management to create favorable conditions for the General Director to implement.
- Timely support to ensure the effective operation of the General Director, the assisting apparatus for the General Director and the Representative of the contributed capital of the one who has capital contribution at the Company.
- Reviewing and supervising monthly reports on production and business activities in 2022, financial statements of the first, second, and third quarters of 2022, fourth quarter of 2021 and financial statements of 2021 of the Company.
Supervising results
- With the results achieved in 2022, in the situation that the impact of the Covid-19 pandemic has been controlled, the conflict between Russia and Ukraine is still ongoing, the Board of Management discussed and evaluated: General Director The Director and Executive Board managed the production and business activities of the Company flexibly, proposed timely solutions, adapted to the circumstances and exceeded the production and business indicators in an impressive way. objectives, especially revenue and profit indicators, ensuring jobs, ensuring employee health and safety, and maintaining business in a spirit of high responsibility to stakeholders, strictly complying with applicable laws and regulations of the Company.
- In 2022, the Company did not violate the provisions of the Law on labor safety, human rights, did not use child labor and did not force labor, did not violate the regulations and was not fined on environmental issues planned in the Company’s restructuring scheme according to the roadmap set by the National Oil and Gas Group.
Plans and orientations of the Board of Management
Regarding production and business
PVCFC engineers are working at the production area
- Assuring production activities of main products such as Urea, NPK, Urea-based new products effectively, stably, safely and optimizing the capacity of plants.
- Continuing to maximize the consumption of products produced by the Ca Mau Fertilizer Plant Complex and Ca Mau NPK Plant, on the basis of maintaining reasonable inventories and supplying sufficient goods for the domestic market and a part of exports at low peak season, on the basis of a reasonable balance between domestic supply and demand of products.
- Maintaining and promoting import and export activities to optimize raw materials for NPK plants, and at the same time organizing effective business of self-trading products, in line with market development orientation in each domestic region and Cambodia.
- Researching, implementing and applying projects and programs on optimizing and saving energy and materials that have been tested in practice to further improve efficiency with Urea, NPK production and new product complexes.
Regarding optimization
The team of research experts at PVCFC
Regarding restructuring
General Director of PVCFC at the digital technology training session 2022
- Continuing to implement the plan in the Company Restructuring Project according to the roadmap prescribed by the Vietnam National Oil and Gas Group.
- Completing the management system according to the best corporate governance practices in order to enhance the competitiveness of the Company, thereby contributing to the enhancement of the Company’s value in the market.
Regarding executive management
PVCFC’s Board of Directors
Regarding the brand
- Continuing to invest in and implement marketing campaigns and programs to increase awareness of NPK products in target markets. Accordingly, it is necessary to focus on developing markets, distribution systems, and increasing awareness of Ca Mau NPK in key strategic markets, especially in the Southwest, Southeast and Central Highlands. At the same time, promoting the consumption of organic products under the policy of “nutrition product package” according to the customer segmentation strategy and customer orders to optimize business performance at the points of sale.
PETROVIETNAM CA MAU FERTILIZER JOINT STOCK COMPANY
Lot D, Ward 1 Industrial Park, Ngo Quyen Street, Ward 1, Ca Mau City, Ca Mau Province
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