AsemconnectVietnam - LAS said that in Q2/2025, the cost of input materials increased sharply but the Company only increased the selling price by 12.5%, leading to a 24% decrease in after-tax profit compared to the same period, to VND51 billion.

Lam Thao Fertilizers and Chemicals JSC (code LAS) has just announced its financial report for Q2/2025 with net revenue reaching nearly VND1,082 billion, an increase of 79% over the same period last year. However, due to an increase in cost of goods sold of up to 114.5%, gross profit decreased by 9% compared to the same period, to VND159 billion.
LAS said that in the second quarter, the domestic and world fertilizer markets fluctuated unpredictably, input material prices increased, specifically: sulfur prices increased by 94%, apatite increased by 12%, potassium increased by 8.8%, urea increased by 9.9%... causing the cost of goods sold to revenue ratio to increase by 14% compared to the second quarter of 2024.
However, to compete with increasing fertilizer products, increase consumption output, maintain market share, develop the market and stabilize fertilizer prices, the Company only increased the selling price by 12.5%, leading to a decrease in gross profit margin of 1.5%.
In terms of costs, during the period, financial expenses increased by 86.3% to VND6 billion, sales expenses were VND42 billion, down 9% and business management expenses were VND59 billion, up 1%.
As a result, LAS's after-tax profit during the period decreased by 24%, to VND51 billion.
Thanks to positive business performance in the first quarter, in the first 6 months of the year, LAS brought in VND2,668 billion in net revenue and VND123 billion in profit after tax, up 30% and 3% respectively over the same period in 2024.
In 2025, LAS has approved a business plan with revenue reaching VND3,545 billion and pre-tax profit reaching VND205 billion. With VND155 billion in pre-tax profit achieved, LAS has completed nearly 76% of the annual profit target.
As of June 30, 2025, LAS's total assets reached VND2,811 billion, up 6% over the beginning of the year. Of which, the amount of cash and deposits held was about VND770 billion, down 8%; inventories also decreased by 24%, to VND1,003 billion. Meanwhile, LAS's short-term receivables skyrocketed to VND662.7 billion, nearly 7 times higher than at the beginning of the year, mainly due to increased receivables from customers.
On the other side of the balance sheet, LAS still has nearly VND1,380 billion in payables, all of which are short-term debts, up 18% compared to the beginning of the year. LAS's short-term debt alone is nearly VND637 billion, accounting for 46% of total payables.
N.Nga
Source: VITIC/Tinnhanhchungkhoan