Vinachem: business and production results in Q1/2023

03:33 PM @ Wednesday - 19 April, 2023

In the first quarter of 2023, the Group's production and business were still facing many difficulties due to the influence of world economic factors, the impact from the conflict between Russia and Ukraine, monetary policy, and interest rates, high productivity, consumption and economic activities down in many countries and regions, etc. Q1/2023, mamy unit members of Group were met with difficulty in capital and production conditions. The fertilizer faced difficulties in product consumption. 

Accordingly, the production and business results of whole Group in QI/2023 were not positive compared to the same period last year. The production-industrial value was reached 11,695 billion VND, by 77%  compared to the same period. Revenue reached 12,605 billion VND, by 75% compared to same period. Gross profit was reached 140 billion VND. In which, the unit member in the 1468 project loss estimated 592 billion VND, Profit of the rest of unit members were reached 452 billion VND. Paying to State Budget was estimated at 183 billion VND, by 22,9% of the plan.

In this quarter, The Group always ensures eployement for more than 18,000 employees with an average income were 12 million VND/person/month, by 85% of the plan. In addition, the total import - export turnover was reached 155.8 million USD, down 1.3% compared to the same period. In which the total export value was reached 113 million USD, up 6.5%, import value was estimated 42.8 million USD, down 17.5% compared to the same period in 2022.

In the first 3 months of 2023, the Group produced 699 thousand tons of fertilizers of all kinds, 661 thousand of auto rubber tires, more than 921 thousand motorbike rubber tires; 80 thousand tons of detergent and many basic chemical products for production and social life demand. Many products had output increased such as: Sodium Silicate up 71%, detergent up 21%, apatite ore up 15%, soldering stick up 15%, NH3 up 14%, HCl up 13%, NaOH up 9%. But some products down output such as: Oxygen down 31%, NPK down 23%, pesticides down 17%, Javel water down 13%, Urea down 11%, H2SO4 down 9%.

For construction investment, the value of implementation in the first 3 months of 2023 reached 76.6 billion VND, by 7% of the plan. During the quarter, the Group continued to follow the direction of the competent authorities for the Salt Exploiting and Processing Project in Nongbok District, Khammouane Province, Lao PDR. Focus on investing in many important projects such as: (1) Project of raising the annual capacity of Radial truck tyre manufacturing factory to 1 million tyre/year of Da Nang Rubber Joint Stock Company Project (DRC); (2) Project of Investing production line of Chemical Disinfectants for water sources with capacity reach 9,000 tons per year of Viet Tri Chemical Joint Stock Company Project (VITRICHEM); (3) Constructing Van Dien phosphate fertilizer Factory in Thanh Hoa province Project (VAFCO); (4) Dumping ground No. 3 project  in Tang Loong sifting ore factory (VINAAPACO), Ltd. In addition, the Group prepare deploying for many project such as: (1) Bac Nhac Son sifting ore factory (VINAAPACO); (2) Nhon Trach chemical factory (SOCHEM); (3) An Phuoc Accumulator and Battery factory (PINACO); (4) Investing and contructing bulding office of Vinachem in 3B Dang Thai Than.