The year 2023 marked a year full of volatility and challenges for the global fertilizer market. We witnessed rapid changes in the supply-demand balance, impacts from geopolitical factors, as well as fluctuations in the global and domestic economy. These changes posed many challenges but also provided PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) with opportunities to assert its position and core values.

“Creating more sustainable and prosperous value” is not just a slogan but a guiding principle throughout all our activities. PVCFC continually strives to turn this motto into reality, while committing to our shareholders, partners, and society for long-term sustainable and prosperous development.

Throughout the past year, amidst market fluctuations, we applied a volatility management mindset, closely following developments and flexibly adjusting strategies to ensure effective business operations. As a result, PVCFC has achieved impressive accomplishments, breaking all records in production and consumption.   As of December 31, 2023, our production output reached 955.6 thousand tons, and consumption volume soared to 1.267 million tons—figures that are not only the result of the relentless efforts of all our employees but also evidence of the trust from our shareholders and partners placed in us.

One of the most outstanding highlights of 2023 was our significant expansion in the export market, which not only increased revenue but also reduced inventory pressure in a subdued domestic market. PVCFC’s financial results showed total revenue reaching VND 13,172 billion, achieving 98% of the plan, and pre-tax profit of VND 1,255 billion, reaching 122.2% of the plan. These are results of perseverance and sound management strategy.

We understand that sustainable success comes not only from figures but also from our responsibility to society and the environment.  Over 13 years of establishment and development, PVCFC has invested more than VND 500 billion in social projects, ranging from building houses, schools, and health stations to planting tens of thousands of trees to protect the environment. These efforts not only reflect our commitment to the community but are also part of PVCFC’s sustainable development strategy.

Entering 2024, we have focused on three strategic priorities: Investment, Sustainable Development, and Digital Transformation. With a solid foundation already established, we believe that these development directions will lead to new breakthroughs, further enhancing PVCFC’s position not only domestically but also in the international market.

On behalf of the Management Board, I would like to sincerely thank all our shareholders, partners, customers, and organizations for their continued support and companionship. I also extend my deepest gratitude to all employees for their dedication to the Company’s development.