SUCCESS REQUIRES
THE POWER OF EFFORTS
OPERATIONAL SITUATION in 2023
- Situation of production and business activities in 2023
- Situation of project investment and implementation
- Organization and human resources
- Shareholder structure, change in owner’s investment capital
- Report of the Executive Board
- Report and assessment of the Board of Directors
- Report of the Supervisory Board
SITUATION OF PRODUCTION
AND BUSINESS ACTIVITIES in 2023
Performance of production and business activities in 2023
Ca Mau Fertilizer faced multiple difficulties and challenges in 2023 caused by material price surge, declining fertilizer price, low domestic demand, highly increased competition from imported products, etc. However, PVCFC, by continuous efforts made by Leadership and employees, has drastically and synchronously implemented many solutions in management, production and business and achieved impressive results, completed and exceeded planned targets of General Meeting of Shareholders.
| No. | Indicators | Unit | Performance 2022 | 2023 | Ratio | ||
|---|---|---|---|---|---|---|---|
| Plan | Performance | Comparison (%) | |||||
| A | B | C | 1 | 2 | 3 | 4=3/2 | 5=3/1 |
| I | OUTPUT INDICATORS | ||||||
| 1 | Manufacturing products | ||||||
| - | Converted Urea | Thousand tons | 918.08 | 950.00 | 955.57 | 101% | 104% |
| - | Of which: - Functional fertilizer | Thousand tons | 45.04 | 71.26 | 69.63 | 98% | 155% |
| - | NPK | Thousand tons | 115.03 | 147.20 | 151.11 | 103% | 131% |
| 2 | - Functional fertilizer | ||||||
| - | Urea | Thousand tons | 844.08 | 862.00 | 866.03 | 100.5% | 103% |
| - | Functional fertilizer | Thousand tons | 35.52 | 70.00 | 72.51 | 104% | 204% |
| - | NPK | Thousand tons | 83.67 | 150.00 | 138.61 | 92% | 166% |
| - | Self-trading fertilizer | Thousand tons | 123.48 | 211.00 | 183.24 | 87% | 148% |
| II | CONSOLIDATED FINANCIAL INDICATORS | ||||||
| 1 | Equity | VND Billion | 10,605.45 | 10,066.86 | 9,963.38 | 99% | 94% |
| 2 | Total revenue | VND Billion | 16,240.76 | 13,458.48 | 13,172.38 | 98% | 81% |
| 3 | Profit before tax | VND Billion | 4,596.31 | 1,029.29 | 1,254.81 | 122% | 27% |
| 4 | Profit after tax | VND Billion | 4,321.08 | 915.99 | 1,110.14 | 121% | 26% |
| 5 | Payments to the state budget | VND Billion | 679.34 | 246.31 | 426.81 | 173% | 63% |
| III | FINANCIAL INDICATORS OF THE PARENT COMPANY | ||||||
| 1 | Total revenue | VND Billion | 16,214.03 | 13,455.50 | 13,048.39 | 97% | 80% |
| 2 | Profit before tax | VND Billion | 4,586.06 | 1,026.96 | 1,252.19 | 122% | 27% |
| 3 | Profit after tax | VND Billion | 4,313.44 | 914.74 | 1,108.58 | 121% | 26% |
| 4 | Profit before tax/Charter capital ratio | % | 87% | 19% | 24% | 126% | 28% |
| 5 | Payments to the state budget | VND Billion | 674.31 | 238.92 | 419.88 | 176% | 62% |
| IV | INVESTMENT IN BASIC CONSTRUCTION & EQUIPMENT PURCHASE | ||||||
| 1 | Total investment | VND Billion | 85.78 | 419.49 | 404.72 | 96% | 472% |
| 2 | Investment funds | VND Billion | 85.78 | 419.49 | 404.72 | 96% | 472% |
| - | Equity | VND Billion | 31.59 | 417.69 | 403.73 | 97% | 1.278% |
| - | Other loans | VND Billion | 54.19 | 1.80 | 0.99 | 55% | 2% |
Note: (*) The planned targets in 2023 were implemented in accordance with Announcement No 934/PVCFC-IR dated June 13 2023 of PVCFC. These targets are adjusted to replace business and production targets approved by Resolution No 2186/PVCFC-IR dated December 27 2023.
REGARDING THE PERFORMANCE OF THE PARENT COMPANY
Urea production output reached
955.57
Thousand tons
104%
compared to 2022
NPK production output reached
151.11
Thousand tons
131%
compared to 2022
Urea consumption reached
866.03
Thousand tons
103%
compared to 2022
NPK consumption reached
138.61
Thousand tons
Total revenue
13,048.39
VND Billion
80%
compared to 2022
Profit before tax
1,252.19
compared to 2022
27%
compared to 2022
REGARDING PERFORMANCE OF SUBSIDIARY
PETROVIETNAM PACKAGING JOINT STOCK COMPANY (PPC)
PPC has strived to complete the indicators assigned by the parent company: achieving the plan and the same period in terms of packaging production output, timely supply, and quality assurance of packaging for PVCFC; revenue increased by 4% compared to the plan and 2% over the same period in 2022; profit before tax increased 26% compared to the plan and 18% compared to the same period in 2022.
By being proactive in seeking new markets, boosting self-employment and optimizing costs have helped PPC achieve impressive profit growth.
Additionally, PPC always conducts research on improving packaging quality, coordinating with PVCFC to test applications such as using RFID tracking labels, trial production of new fertilizer products in accordance with PVCFC’s development strategy.
Profit before tax
26%
REVENUE
4%
compared to the plan
FINANCIAL SITUATION
FINANCIAL SITUATION (CONSOLIDATED)
Unit: VND Billion
| Financial indicators | Year 2022 | Year 2023 | Comparison (%) |
|---|---|---|---|
| The total value of assets | 14,167 | 15,238 | 8% |
| Net revenue | 15,925 | 12,571 | -21% |
| Profits from business activities | 4,593 | 1,232 | -73% |
| Other profits | 3,166 | 22,482 | 610% |
| Profit before tax | 4,596 | 1,255 | -73% |
| Profit after tax | 4,321 | 1,110 | -74% |
KEY FINANCIAL INDICATORS
| No. | Financial indicators | Unit | Year 2022 | Year 2023 | Note |
|---|---|---|---|---|---|
| 1 | Indicators of liquidity | ||||
| Short-term payment ratio | Time | 4.04 | 2.99 | ||
| Quick payout ratio | Time | 3.25 | 2.51 | ||
| 2 | Capital structure indicators | ||||
| Liabilities/Total Assets ratio | % | 25% | 35% | ||
| Liabilities/Equity ratio | % | 34% | 53% | ||
| 3 | Performance indicators | ||||
| Inventory turnover | Day | 4.56 | 4.74 | ||
| Net Revenue/Total Assets | % | 112.41% | 82.49% | ||
| 4 | Profitability indicators | ||||
| Profit after tax/Net revenue ratio | % | 27.13% | 8.83% | ||
| Profit before tax/Total revenue ratio | % | 28.30% | 9.53% | ||
| Return on Equity (ROE) | % | 47.79% | 10.79% | ||
| Return on Assets (ROA) | % | 34.24% | 7.55% | ||
