Vinachem: Preliminary conference wrap-up report of task of quarter II, deploying the task of quarter IV and the last 6 months of 2014

04:33' PM - Thursday, 17/07/2014
On Jul 11, 2014 Vietnam National Chemical Group (Vinachem) held a Preliminary conference wrap up report of task of the second quarter of 2014, deploying the task of quarter IV and the last 6 months of 2014. Minister Industry and Trade Mr. Vu Huy Hoang attended and directed conference. Attending the meeting were representatives of leadership departments of Ministry of Industry and Trade; the leadership of group, manager and deputy manager of the function department of Group, representatives of unit members; Mr. Nguyen Gia Tuong General Director and CEO of Group has presided conference.



According to the report: Second quarter of 2014, although demand for commodities is basiccally remain low, fertilizer demand continues to weaken, prices fell sharply compared to the same quarter but the group and the unit members has positive, inititative solving problem, promote production, strengthen management, cost savings, reduce production costs, improve quality and competitiveness of products; actively seek and expand consumption markets should have maintained stable production, production comodity, consumption increased significantly, the inventory decrease compared with the first quarter and the same period in 2013; domestic market stability, export increased significantly production and business commodity has effect, paying state budget fully, ensured employment and income for employees. Investment project has reached a positive result, investment project on schedule, operating investment value increased significantly compared with quarter I and the sane period of 2013. Restructuring Working Group is deploying synchronous and on schedule, especially equitization business plan and divestments. However, due to the selling price plummeted than quarter I and the same period in 2013, so target of industrial production value, revenue and profit lower than the same period. Urea fertilizer inventory of the unit member is high, production and business has met difficulties. Some specific targets achieved as follows: The value of industrial production of quarter II based on the actual price reached 11,313 billion VND, and increased 23.9% with quarter I and down 0.4% with the same period in 2013. Accumulated in 6 months, industrial production value reached 20,447 billion VNĐ, down 0.6% with the same period in 2013. Among them: groups of fertilizers and pesticide reached 11,697 billion VNĐ, down 3.5 %; Apatite reached 1,791 billion VNĐ, up 14.2%; rubber reached 3.421 billion VNĐ, down 3.9%; electrochemical (battery, battery) reached 1.000 billion VNĐ, up 7.1%; detergents reached 1.252 billion VNĐ, up 11.3%; basic chemicals, industrial gases reached 1,071 billion VNĐ, up 5.3%; paint plastics and other products decreased 9.4% compared to the same period in 2013. Revenue of quarter II reached 12,373 billion VNĐ, up 17.2% compared with the first quarter and up 3.2% from the same period in 2013. Accumulated in 6 months, revenue reached 22,936 billion VNĐ, down 2.2% compared to the same period in 2013. Among them: groups of fertilizers and pesticide reached 13,702 billion VNĐ, down 6.3%; Apatite reached 1,701 billion VNĐ, up 9.8%; rubber reached 3.534 billion VNĐ, up 3.3%; electrochemical (battery, battery) reached 1,077 billion VNĐ, up 12%; detergents reached 1,367 billion VNĐ, up 7.9%; basic chemicals, industrial gases reach 1,057 billion VNĐ, up 1.3%; paint plastics and other products decreased 14.2% compared to the same period in 2013. Revenue of quarter II estimate reached 717 billion VND, down 30.5% compared to the same period in 2013. Accumulation of 6 months estimate reached 1,505 billion VNĐ, down 22.5% compared with the first six months of 2013. Total exports turn over of quarter II reached 68.7 million USD, up 61% with quarter I and up 32.5% compared to the same period in 2013. Accumulation of 6 months was 111.3 million USD, up 16.4% compared to the same period in 2013.



Formely, Ministry of Industry and Trade has officially announced decision to appoint Mr. Nguyen Gia Tuong held office as General Director and CEO of Vinachem from Jun 03,2014.
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