Vinachem: the quarter III progress conference and deploying tasks in quarter IV/2016

04:07' PM - Tuesday, 11/10/2016

On Oct 7, 2016 Vinachem held a progress meeting of quarter IV/2016 have determination to constructing, finishing and synchronized deployment tasks, have measures to complete plan of 2016. Participating in conference were Mr. Nguyen Van Thanh Director of Chemical Department of Ministry Trade and Industry; Mr. Nguyen Anh Dung, Party Secretary, Chairman of Board member; Mr. Nguyen Gia Tuong General Director and CEO of Vinachem; Mr. Vu Tien Dung Chairman of Vietnam Industrial Chemical Trade Union, and presentative leadership of unit member. Conference preside over by Mr. Nguyen Gia Tuong.

The delegates were heard Mr. Bui The Chuyen speeched and reported the result tasks of quarter III/2016 and the first 9 months, and proposing orientation and tasks of quarter IV/2016. In task of quarter III/2016, production and business were face many difficulties, but with the spirit of initiative and try its best deploying Resolution No.01/NQ – CP. Whole Group has achieved certantly result, ensuring balance and supply commodity for domestic and international market. Almost production and business sector (4/5) operate well and only fertilizer sector is influenced by price decrease. Environment and work safety is guaranteed. Activity in Communist Party, Trade Union, HCM Communist youth Union in schedule and directing of superior. But have some problem in sales, revenue, production and business value are low, losses and profit decrease compared to the same period., many project are not in schedule such as: Viet Lao Salt mine project, 1A Trang Tien Building project, divestment fund was slowly.

Some basic task achieved in the third quarter and first 9 months 2016 as follows:

1. Production value calculated at constant prices in 2010 was estimated reaching 10,652 billion VND, accumulated in 9 months was estimated reaching 31,868 billion VND, by the same period of 2015; calculated at current prices reached 9,371 billion VND, down 12.9% compared to the same period of 2015, accumulated of 9 months was estimated 29,137 billion VND, down 10.8% compared to the same period of 2015. In there, compared to the same period 2015, fertilizers and pesticide products groups down 25.4%, accumulated of 9 months down 20.8%; Apatite up 2.3%, accumulated in 9 months down 0.9%; Rubber down 3.1%, accumulated of 9 months down 3%; electrochemical (battery,accumulator) up 21.4%, accumulated of 9 months up 16.2%; detergent down 13.7%, accumulated of 9 months up 8%; basic chemicals and industrial gases up 0.2% and accumulated of 9 months up 4.1%; other products up 13.8%, accumulated of 9 months up 24.8%.

2. Revenue of quarter III reached 9,631 biliion VND, down 6.8% compared to the same period in 2015, accumulated of 9 months reached 31,327 billion VND, down 8.4% compared to the same period in 2015. In there, compared to the same period in 2015: fertilizers and pesticide products group in quarter III/2016 down 15.3%, accumulated in nine months down 15.7%; Apatite in quarter III down 3.5%, accumulated in 9 months down 0.2%; Rubber in quarter III down 2.1% and accumulated in 9 months down 8.9%; electrochemical (battery, accumulator) of quarter III up 17.9%, accumulated in 9 months up 18.1%; detergent in quarter III up 14.1%, accumulated in 9 months up 8.1%; Basic chemicals, industrial gases in quarter III down 0.2% and accumulated of 9 months up 8.7%; other products of the third quarter up 2 times, accumulated of 9 months up 53%.

3. Paying to state budget in quarter III/2016 was estimated 404 billion VND, accumulated of 9 months was estimated 1,254 billion VND.

4. Profit of quarter III/2016, profit of unit profit reached 564 billion VND, up 15% compared to the same period of 2015; accumulated of 9 months reached 1,943 billion VND, down 2.9% compared to the same period in 2015. The losses of 5 unit members was 861 billion VND, up 1.7 times compared to the same period in 2015; accumulated of 9 months lossed 2,240 billion VND, up 2.6 times compared to 2015.

5. Production of the product: in 9 months the Group has produced and supplied to the market 2,587 thousand tons of fertilizers of all kinds; 1,809 thousand automobile tires; more than 5.4 million motorcycle tires; 312 thousand tons of detergent and chemical products for the demand of production and social life. Some products increased: automobile tires up 9%, automobile inner tube up 8%, batteries up 7%, accumulator up 21%, detergent up 6.9% compared to the same period in 2015. However, some products down such as phosphate fertilizer, NPK, nitrogen urea, DAP ...

6. Import export value of the third quarter was estimated 106.8 million VND, down 7.3% compared to the same period of 2015, accumulated of 9 months reached 305.4 million VND, by 47.9% of the plan, down 17.5% compared to the same period of 2015. In there: the export value was estimated 165.1 million VND, down 11.2% compared to the same period, the import value reached 140.3 million VND, down 23,9% compared the same period in 2016.

Forecasting in quarter IV/2016, whole Group continue face to difficulties for production and consumption of fertilizers, rubber, while industrial production value in the first 9 months reached 64.3% plan, revenue reached 66.6% plan. Group has required limited company, representative of state capital in join - stock company, foreign invested company check, building plan of quarter III/2016, strive finishing task of whole year 2016.

According to the report, production business and investment building target of quarter IV/2016 as follows: industrial production value in current price, quarter IV reached 12,090 billion VND, up 29% compared to quarter III/2016, whole year 2016 estimate reaching 41,228 billion VND; revenue of quarter IV/2016 strive reaching 11,150 billion VND, up 15,7% compared to quarter III/2016, whole year reach 42,595 billion VND; quarter IV production and business result of the units strive interest reaching 672 billion VND and losses is lowest; total investment value strive reaching 1,200 billion VND.

Mr. Nguyen Anh Dung, Chairman of the Board Members speeched and directed the conference. He required unit members concentrated and strived finishing production and business task, the losses unit member striving the losses is lowest; production business attach with consumption, ensure inventory is lowest; building schedule of 2017 rely on reality condition, concentrate promoting production and business and consumpting commodity specially rubber, basic chemical and electrochemical product; promoting internal purchase between unit members; promting investment in key project, specially salt mine Vietnam Lao Project, ensuring in schedule, promoting investment efficiency, saving cost; promoting reconstruction; ensuring safety environment, promte reaching highest task.

The conference also heard some comments of the participants about result report of quarter III and the first 9 months, the difficulties, problems and propose solutions, to excute task of quarter IV/2016.

Speaking at the conference, Mr. Nguyen Gia Tuong has praised the efforts of the unit members to overcome difficulties to fulfill plan, ensuring employment and salary for employees, contributing with Group finished task of quarter III and the first 9 months in difficult condition. But task of quarter IV/2016 very heavily and need to highest striving of whole Group to finish plan.

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