VINACHEM

On January 6, 2022, Vietnam National Chemical Group (Vinachem) held a conference to summarize the task of 2021 and deploy the target of 2022. Attending at the conference have Mr. Nguyen Dinh Khang - President of Vietnam General Confederation of Labor; Mr. Ho Sy Hung – Vice-President of Committee for Management of State Capital at Enterprises and Representative of Ministry and Trade, the Central Inspection Committee, the Government Office, the Leadeship of Group and Representative of Unit members, etc.

In 2021, Unit members of Group continue to face many difficulties and challenges from the Covid-19 global pandemic such as high input material prices, shortage of raw material supply affect the production and business activities of the Group. Besides, the balance of input materials, capital and production and business conditions, consumption commodity is also a big difficulty for Vinachem. But with the effort of whole employees, Vinachem has achieved positive results in 2021, specifically: Industrial production value calculated at real prices estimated 48,980 billion VND, by 116.2% of the plan, up 30.3% compared to 2020. In which: Unit members are not in 1468 Project estimated at 38,282 billion VND, by 111% compared to the plan, up 21 % compared to 2020; Unit members in 1468 Project estimated at 10,698 billion VND, by 139% of the plan, up 79% compared to 2020. Many units members have a sharp increase in industrial production value, including: (1) Ninh Binh Nitrogenous Fertilizer and Chemical  Ltd. Co increased 136.7%; (2) Can Tho Fertilizer and Chemical JSC increased 87.7%; (3) DAP- Vinachem JSC increased 74.9%; (4) DAP No.2 - Vinachem JSC increased 61.5%; (5) Ha Bac Nitrogenous Fertilizer and Chemical JSC increased 53.8%; (6) Viet Nam Apatit Limited Company increased 24.2% compared to 2020.

Revenue of Group estimated 51,200 billion VND, by 116% of the year plan, up 24% compared to 2020. In which: unit members are not in 1468 Project estimated at 40,610 billion VND, by 111.8% of plan, up 15.7%; Unit member in 1468 Project estimated at 10,589 billion VND, by 136% of the plan, up 74% compared to 2020. Revenue of many unit members have strong increase, including: (1) Ninh Binh Nitrogenous Fertilizer and Chemical JSC increased 110.9%; (2) Can Tho Fertilizers and Chemicals JSC increased 52.3%; (3) DAP No.2 – Vinachem JSC increased 69.1%; (4) Ha Bac Nitrogenous Fertilizer and Chemical JSC increased 53.1%; (5) DAP- Vinachem JSC increased 55.1%; (6) Binh Dien Fertilizers JSC increased 44% compared to 2020.

In 2021, Vinachem has paid to the state budget 1,668 billion VND. The average income reached 12.02 million VND/person/month, up 32% compared to the same period in 2020. Gross profit reached 1,726 billion VND. Many unit members have high profits including: (1) Lam Thao Fertilizers and Chemical JSC increased 2 times; (2) The Southern Fertilizers JSC increased 12 times; (3) DAP – Vinachem JSC increased 6.7 times; (4) Viet Tri Chemical JSC increased 2 times compared to 2020.

In 2021, the Group produced and supplied to the market 3,534 million tons of fertilizers of all kinds; 3.6 million auto tires; 2.16 million kWh battery; about 253,000 tons of detergents and many chemical products for production and social life demands. In addition, Import - Export Turnover reached 716.8 million USD, by 147% of the plan; The total export value reached 404.2 million USD, up 34% compared to 2020; The total import value reached 312.6 million USD, up 71% compared to 2020.

For construction investment, the practical value in 2021 reached 388 billion VND, by 67.2% of plan. The Group continues operating and deploying preparation to investment for many projects: Tuyen Bac Nhac Son Factory (of VINAAPACO), Nhon Trach Chemical Factory (of SFC); An Phuoc Battery Factory (of PINACO); investment in expanding Radial truck tire factory increase capacity to 1 thousand tires/year (of DRC).

Despite the impact of the Covid-19 global panmetic, the unit member joint ventures and associates achieved production and business results increased: Revenue of 2 Joint Stock Companies of Group's contributing capital reached 11,852 billion VND, by 197% compared to the same period in 2020. Profit after tax in 2021 of 2 companies such as: (1) Inoue Rubber Vietnam Co., Ltd. reached 177.2 billion VND, by 67% compared to the same period in 2020; (2) TPC Vina Co., Ltd.  estimated 476 billion VND, by 174% compared to the same period in 2020. 

Revenue and Profit of many Associated companies such as: (1) Sao Vang Rubber JSC (SRC) with Revenue reached 963 billion VND, down 30.4% and Profit reached 56.2 billion down 41.7% compared to 2020; (2) NET Detergent Joint Stock Company (NETCO) with Revenue reached 1,480 billion, by 100% and Profit reached 130 billion VND, down 15% compared to 2020; (3) South Chemicals Import – Export Joint Stock Company (SOUTHCHIMEX JSC) with Revenue reached 502 billion VND, down 2% and Profit reached 1.7 billion VND, up 9% compared to 2020.