Vinachem: Profit in the first 6 months of 2018 increased 3.5 times compared with the same period

11:38' AM - Tuesday, 10/07/2018

On Jun 6, 2018, Vietnam Chemical Industry Group (Vinachem) held a conference to assess the results of production and business of quarter II and the first 6 months of 2018, deployment the tasks of quarter III/ 2018. Mr. Nguyen Phu Cuong, Secretary of the Party Committee, Chairman of the Board of Members of the Group presided over the Conference.

Attending and directing the conference were Mr. Dang Hoang An, Deputy Minister of Industry and Trade; Mr. Nguyen Van Thanh, Director of Chemical Department, Ministry of Industry and Trade; Representative leaderships of unit members.

In the first 6 months of 2018, production and business of Group continues to be difficult under the macroeconomic infuluence, under the effect of policies and regulations of the State. In addition, Vinachem also encountered difficulties in input materials, capital and production conditions, in consumption market. However, Vinachem has overcome difficulties to achieve the basic target of quarter II and the first 6 months of 2018 with remarkable results, specifically: Industrial production value at current prices in Q2 was estimated 12,421 billion VND, accumulated in 6 months was 23,364 billion VND, by 49.7% of the plan, up 10% compared to the same period of 2017. Revenue in quarter II was estimated 13,174 billion VND, accumulated in 6 months was 24,554 billion VND, by 50.9% of the plan, up 9.5% compared to the same period of 2017. Gross profit of the Group reached 306 billion VND in quarter II, accumulated in the first six months reached 402 billion VND, by 62.6% of the plan, up 3.5 times compared to the same period of 2017. Paid to State budget was 382 billion VND in quarter II. Accumulated in first 6 months reached 878 billion VND, equal to 54.5% of the year plan, by 89.9% compared to the same period in 2017. In quarter II and the first 6 months of the year, the Group has ensured employment for 22,381 employees with the average income is 8.5 million VND / person / month.

In the first six months of the year, the Group produced and supplied 2.2 million tons of fertilizer to the market; 1.5 million automobile tires; more than 3.4 million motorbike tires and tubes; 200 thousand tons of detergent and many chemical products for production and social life. Some products increased by 9%, DAP fertilizer increased 42%, Urea fertilizer increased 10%, automobile tires increased 18%, commercial ammonia increased 70%, have some products reduced production such as NPK, bicycle tires, apatite ore etc.

For construction investment, the value of implementation in the second quarter was estimated 256 billion VND, accumulated in the first 6 months was estimated 467 billion VND, by 35.5% of the plan. The construction investment value in the first 6 months still low because: many new investment projects of the unit members are in the schedule of selecting contractors or in designing so the implementation value low; Some transitional projects have implementation value low compared to the plan.

Technical, science and technology, Group allway interested in occupational safety and health and environmental protection. Unit members in the Group have paid attention to the observance of the provisions of law, the Group and the unit members in safety work and hygiene, fire and explosion prevention and environmental protection. However, there are still three explosions. In the first 6 months of the year, the unit members has colect, review and update the data of reparing plan in 2018 and propose adjustment to ensure appropriate and close to reality of production and business demand at the unit members.

For the implementation of restructuring enterprise plan, in the past 6 months, the Group has implementating in restructuring Group in the period 2017-2020 in accordance with Decision No. 16 / QĐ – TTg January 5, 2018 of the Prime Minister. Accordingly, the Group has constructing plan and schedule roadmaps for equitization and divestment, and sending report to the Ministry of Industry and Trade to execute regulations. In general, the restructuring plan has been continued in all content.