AsemconnectVietnam - Despite setting a revenue target that is lower than that of 2024, PetroVietnam Chemical and Services Joint Stock Corporation (PVChem, code PVC) expects its after-tax profit to double that of the previous year.

According to the 2025 General Meeting of Shareholders document, this year, PVChem sets a consolidated business target with a production output of 13,200 tons, an increase of 8% compared to 2024. However, total revenue decreased by 6.5%, reaching VND2,800 billion; while after-tax profit is expected to double that of the previous year to VND31.2 billion.
PVChem said that the Company's production and business activities are characterized by providing products and services for drilling, exploration, exploitation and processing of oil and gas. 2025 is expected to continue to be a year with many challenges and difficulties in PVChem's production and business activities. Specifically, PVChem's revenue/profit structure is mainly from trade and service activities, production activities account for a small proportion, so production and business activities are subject to many factors of geopolitical and economic fluctuations, the complex fluctuations of the USD/VND exchange rate and interest rates are the causes that directly affect PVChem's operating efficiency. In the service sector, fierce competition from foreign/private competitors in PVChem’s core service sector, leading to reduced profit margins, and pressure to reduce service prices when bidding is factors that will greatly affect revenue and profit in 2025.
In the business sector, imported plastic resin business brings large revenue to PVChem, however, the fact that large domestic manufacturers put into commercial operation from 2024 has caused excess supply in the domestic market, increased competition affecting revenue and profit margin. In addition, Sulfur business depends heavily on market fluctuations and high risks.
To achieve the targets, the Company will improve its capacity to provide drilling fluid services, technical services and industrial services, ensuring to meet market demand; focus resources on providing services, chemicals/chemical products for the Block B project; implementing traditional business activities well, not forgetting to research and develop the production of new products, ...
Regarding the dividend payment plan, the Company plans to spend more than VND44.6 billion to pay dividends for 2024, at a rate of 5.5%. While in 2025, the expected rate will be 2%.
On the stock market, at the end of the trading session last week (April 4), the stock decreased by 8.08% to VND9,100, with liquidity of 2.32 million units. Overall for the week, PVC shares decreased by 18.75%. Opening this morning's session (April 8), PVC shares continued to hit the floor to VND8,200.
N.Nga
Source: VITIC/Tinnhanhchungkhoan