AsemconnectVietnam - According to PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC, HOSE: DCM), in the first quarter of 2020, despite the difficult market situation due to the impact of Covid-19 epidemic, severe drought and unstable gas supply, the Company still fulfills the targets of production, consumption and profit.

Specifically, in the first quarter of 2020, PVCFC is estimated to achieve 230,490 tons of urea production, reaching 112 percent of the quarter plan, reaching 29 percent of the 2020 plan. Urea consumption is estimated at 177,440 tons, reaching 109 percent of the first quarter plan of 2020, reaching 25 percent of the plan in 2020. In addition, PVCFC also continues to promote sales of proprietary goods and other new products.
Regarding financial indicators, the total revenue in the first quarter of 2020 is estimated at VND 1,306 billion, reaching 98 percent of the quarter plan, reaching 22 percent of the plan in 2020; The profit before tax is estimated at 64.69 billion VND, reaching 118 percent of the quarter plan.
According to PetroVietnam Ca Mau Fertilizer Joint Stock Company, the profit in the first quarter of 2020 exceeded the plan is due to high production output, optimized energy costs, and reduced input gas prices, leading to low capital costs in the period. The revenue target fulfills 98 percent of the plan for the first quarter of 2020 because the average selling price is lower than the planned price.
For the NPK project, PVCFC said that the project is currently in the testing phase, preparing for handover. However, without exception, the implementation of the pilot phase project was greatly influenced by the Covid-19 epidemic, especially the plan to mobilize human resources for commissioning and service test run of Espindesa, equipment suppliers for projects from Japan, Italy, France, Germany, Spain, USA ... all have to change their plans to Vietnam due to suspension of import.
However, PVCFC has been proactively involved in the work processes, materials, chemicals, auxiliary..., training personnel to be ready to receive effective operations right after receiving the handover from the contractor. .
At the same time, PVCFC has been continuing to prepare preparatory activities for the distribution of NPK Ca Mau products such as market development, distribution system and increase awareness of NPK Ca Mau in the target markets.
N.Nga
Source: Securities Investment Newspaper