Before the 2020 Annual General Meeting of Shareholders, PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo, stock code: DPM) has successfully gone through 2019 and the first half of 2020, spectacularly overcome challenges, maintained its leading position in terms of equity scale, business efficiency, total revenue and total profit before tax.
After the oppoturnity maintenance in early 2019, Phu My Fertilizer Plant quickly returned to normal operation, the production output of fertilizer and chemicals reached 865,610 tons, in which the urea production reached nearly 708 thousand tons - exceeding 6% of the 2019 plan. The total sales volume of fertilizers and chemicals reached approximately 1.1 million tons- achieving (consolidated) revenue of VND 7,831 billion and (consolidated) profit before tax of VND 467 billion- accomplishing 228% compared to the 2019 plan which was approved by the General Meeting of Shareholders.
With such positive results, in the 2020 General Meeting of Shareholders, PVFCCo proposd the dividend rate is 12% of thepar value for 2019 (i.e. an increase of 2% compared to 10% approved by the shareholders in the 2019 Annual General Meeting of Shareholders). In April 2020, PVFCCo advanced a dividend rate of 5%/par value for 2019. Upon the approved plan, PVFCCo shall pay a dividend rate of 7%/par value.
During the first half of 2020, despite continuous challenges from the impact of COVID-19, severe drought and saltwater intrusion, PVFCCo has performed timely, drastic and flexible solutions, ensuring absolute safety for people and properties, while accomplishing the plan for the first quarter and the first 5 months of 2020. Until 31 May 2020, the production output had reached approximately 457 thousand tons of fertilizers and chemicals, in which the Phu My Urea accounted for 357,600 tons; the consumption of most goods exceeded from 3-14% compared to the plan and far beyond the plan compared to the same period in 2019. The total sales output reached 500 thousand tons of fertilizers and chemicals and ranked in the group of enterprises with the most impressive results in the first half of 2020.
It is impossible not to mention the important factor that helps PVFCCo achieve good production and business results, which are the interest, support and efforts of Vietnam Oil and Gas Group in securing gas resources for the Phu My Fertilizer Plant to work effectively.