Vinachem: Production and business in quarter I/2019 met with difficulties

11:44' PM - Thursday, 11/04/2019

On April 5, 2019, Vietnam National Chemical Group (Vinachem) held the conference to evaluate the result of quarter I/2019 and deploying the task of quarter II/2019. Mr. Nguyen Gia Tuong preside over the conference.

The delegates heard the Deputy General Director Mr. Bui The Chuyen speech and report the results of quarter I/2019, the direction of works and tasks of quarter II/2019. Accordingly the report, the production and business of the Group faced many difficulties adverse effect of macroeconomic factors, policies and regulations of the State. In addition, Vinachem faces difficulties in input materials, capital and production conditions, and product consumption market. Therefore, the production and business results of the Group of quarter I/2019 were not high compared to the same period last year, specifically: The value of industrial production at current prices reached 10,415 billion VND down 3.7% compared to the same period in 2018. Revenue reached 10,259 billion VND, down 10.2% compared to the same period in 2018. Besides, Group paid to state budget 350 billion VND. The Gross profit of the Group reached 43 billion VND, of which 04 difficult units members were estimate loss 284 billion VND, down 22% compared to the same period of 2018 ( interest of DAP – Vinachem reached 14.7 billion VND), the rest of units members estimated interest reach 327 billion VND, down 21% compared to the same period of 2018. In the quarter, the Group always ensured enough jobs for 22,480 employees with the average income reache 8.6 million VND / person / month.

In the first 3 months of 2019, the Group produced and supplied the market with 891 tons of fertilizers; 638 thousand automobile tires; more than 1.8 million motorbike tires; 100 thousand tons of detergents and many chemical products for production demand and social life. Some products increased production compared to the same period such as: Urea up 48.2%, Acetylene up 75%, Ammonium up 30.5%, Liquid chlorine up 14.6%, Bicycle tube up 7.5 %, motorbike tires up 11%, batteries up 1%, detergent up 3%, but there are still some products down output such as phosphate, DAP, NPK, antiseptic, apatite ore, etc.

For construction investment, the practical value of quarter I/2019 reached 211 billion VND, by 26.5% of the plan of this year. In quarter I, the Group focused on important projects such as: project Building Van Dien Phosphate Fertiliser Factory in Thanh Hoa province by VAFCO; The Project of leasing land and leasing infrastructure in Nhon Trach 6 Industrial Zone, Dong Nai province of SOCHEM; The project "Investing in electrolysis bottle with capacity of 10,000 tons NaOH 100% per year replacing 2 electrolysis bottle DD350 in Bien Hoa Chemical Factory" of SOCHEM; The Project Investment and construction sulfuric acid production line with capacity 300,000 tons per year combinating generate electricity of LAFCHEMCO; The Investment and replacing technology systems and equipment to produce caustic soda of VITRICHEM; The Project of renting land, renting infrastructure in An Phuoc industrial zone, Dong Nai province of PINACO,etc.

In the first quarter of 2019, the production and business of many joint ventures companies lower than the same period last year. Accordingly, the total revenue in the first 3 months of the 2 joint-venture companies by the Group directly contributed reached 1,444 billion VND, down 3% compared to the same period of 2018. Many associated companies have business results, profit following: SOUTHCHIMEX Revenue reached 152 billion VND, Profit reached 620 million VND; Ninh Binh Fertilizer Port Joint Stock Company Revenue reached 15.2 billion VND, Profit reached 1.2 billion VND; INCODEMIC Revenue reached 4.7 billion VND, loss 690 million VND; VIBACO Revenue reached 8.6 billion VND, loss 500 million VND, etc.

Although the production and business results of the first quarter of 2019 were not high, it was also the basis for the Group to set the targets for quarter II. Accordingly, the quarter II/2019, Vinachem's leaders, staff office and employees will more efforts to overcome all difficulties and maintain stable production, contributing to completing the socio-economic task of the second quarter and the first 6 months of 2019.

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