Vinachem: progress meeting quarter I/2017

01:31' PM - Thursday, 20/04/2017

On Apr 14, 2017, Vinachem held a conference to report result of production business quarter I/2017 and to launch the second quarter task.

Attending and directing the meeting were Mr. Do Thang Hai Deputy Minister of Ministry of Industry and Trade; Mr. Nguyen Van Thanh Director of Chemical Department, Ministry of Industry and Trade; Mr. Nguyen Anh Dung, Secretary of Party Committee, Chairman of Member’s council; Mr. Nguyen Gia Tuong, CEO and General Director of the Group; the member of Members Council; The deputy general directors; representative leadership of unit members. The meeting preside over by Mr. Nguyen Gia Tuong.

In the first quarter of 2017, the Group focused its efforts on boosting production, consumption of products, boosting exports, focused on investment and development and ensure wages and empployemt for employees. In quarter I, the Group achieved some basic targets as follows: industrial production value at current prices was estimated 9,682 billion VND, up 4.9% compared to the same period. Revenue estimated 10,156 billion VND, up 5.7%. In which, revenue of fertilizers and pesticides group were estimated 5,344 billion VND, up 8.1%. Apatite products were estimated 758 billion VND, down 27.1%; Rubber were estimated 1,895 billion VND, up 12.5%; Electrochemical (battery, accumulator) were estimated 819 billion VND, up 27.1%; Detergents were estimated at 760 billion VND, up 18.8%; Basic chemicals, industrial gas reached 551 billion VND, down 10.2%; Other products decreased by 37.7% VND. Despite many difficulties, in Q1 / 2017, the Group ensure wages and jobs for 23,895 employees with the average salary was 8.29 million VND/person/ month.

For the construction investment, the value of implementation in quarter I/ 2017 reached 212 billion VND, by 5% of the construction investment task of the year by many new investment projects of the units are in prepare period to choose investor, constractor and assessing project. The Group impulse the progress of some projects and verify some completed projects.

Although the first quarter production and business results are not high, but this is also the basis for the Group to set targets for quarter II and subsequent quarters. Accordingly, in the second quarter and the first 6 months of 2017, the Group will strive to achieve the following business targets: Industrial production value in the second quarter at current prices strives to reach 12,032 billion VND, up 15,6%; Accumulated of 6 months reach 21.714 billion VND, up 9.8% compare to the same period. Revenue is expected to reach 12,717 billion VND, up 3.9%, acumulated of the first 6 months of 2017 reached 22,873 billion VND, up 5.4% compare to the same period in 2016.

Mr. Nguyen Anh Dung, Chairman of the Group's Board of Directors, speeched and directed the meeting. He said though positively production and business result in quarter I/2017 in tough condition, but still have many shortcomings need to overcome in quarter II/2017. He require whole Group effort to achieve the target of production and business; The units focus on good management, cost savings, boost consumption, strive to reduce losses in half, promote internal consumption, strive to achieve the highest results.

At the meeting, the leaders of Group and some representatives leadership of the units members engaged in discussion about tasks result quarter I/2017, tough, shortcomings and petitions, solution implementating task of quarter II and the first six months of 2017 in report.

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