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Press Release: PVFCCo received double awards and announced Production and Business Plan in early 2019

24/01/2019

PVFCCo has been honored to be in the Top 500 largest enterprises in Vietnam (VNR500) in the 12th consecutive year and granted the “Typical agricultural product" title for the 5th time in a row. Moreover, in this exciting and delightful atmosphere, PVFCCo announced its Production and Business Plan in 2019 with the 10% higher targeted total revenue in comparison with that of 2018 Plan, equivalent to VND 9,968 billion, and the pre-tax profit of VND 559 billion.

According to the VNR500 ranking in 2018, PVFCCo is maintaining its position as the leading enterprise in fertilizer production and trading sector in Vietnam. VNR500 is evaluated according to the model of Fortune 500 as it is generated based on independent research and evaluation results under international standards of Vietnam Report as well as the advice of prestigious domestic and international experts. Since the program’s first organization in 2007 by VietnamNet and the Ministry of Information and Communications, PVFCCo has been consistently presented in VNR500 Ranking and possessed the leading position in the fertilizer sector.

The joy has been doubled as in January 2019, Phu My fertilizer product range has been entitled as the "Typical agricultural product" in the "Products for agriculture” category. This is an annual program held by the Central Committee of Vietnam Farmers, and products being honored are all reliable products with high quality, compliance with provisions on intellectual property rights, highly practical values and promotion of the sustainable development that enhances the value of agricultural production.

Regarding the business and production plan in 2019, PVFCCo has made a more cautious Production and Business Plan for 2019 in order to prevent risks and unpredictable domestic and international impacts, such as the world’s complicated economy with numerous fluctuations, domestic economy with several difficulties and unpredictable fluctuations of oil prices that affect gas resources and the input gas prices, the increasingly serious and erratic climate change and the market growing more and more competitive. Therefore, the production and business plan for Phu My Fertilizer remains stable at 800,000 tons and 810,000 tons, the targets for UFC85 are 13,000 tons and 9,000 tons. In 2019, PVFCCo is going to increase the output of Phu My NPK produced by Phu My NPK chemical technology plant, with the production and business targets of 200,000 tons and 185,000 tons, which is 150,000 tons higher than that in 2018, and the production and business outputs of NH3 are expected to be 61,434 tons and 63,000 tons, increasing 11% and 14% respectively in comparison to that of the plan for 2018. Business targets for other fertilizers and chemicals are quite similar to those of the previous year. Regarding financial targets,  the total revenue is specified to increase by 10% compared to the previous year, equivalent to VND 9,968 billion, and the pre-tax profit is going to be at VND 559 billion.

It can be said that newly launched production plants in 2018 and the Top VNR500 and Typical agricultural products titles represent a good start for PVFCCo in a new year, meanwhile, they are also the foundation for PVFCCo to develop rapidly and firmly in the coming years.