ANNUAL REPORT: PVCFC

SITUATION OF PRODUCTION

AND BUSINESS ACTIVITIES IN Year 2023

Performance of production and business activities in Year 2023

Ca Mau Fertilizer faced multiple difficulties and challenges in Year 2023 caused by material price surge, declining fertilizer price, low domestic demand, highly increased competition from imported products, etc. However, PVCFC, by continuous efforts made by Leadership and employees, has drastically and synchronously implemented many solutions in management, production and business and achieved impressive results, completed and exceeded planned targets of General Meeting of Shareholders.

No. Indicators Unit Performance 2022 Year 2023 Ratio
Plan Performance Comparison (%)
A B C 1 2 3 4=3/2 5=3/1
I OUTPUT INDICATORS
1 Manufacturing products
- Converted Urea Thousand tons 918,08 950,00 955,57 101% 104%
- Of which: - Functional fertilizer Thousand tons 45,04 71,26 69,63 98% 155%
- NPK Thousand tons 115,03 147,20 151,11 103% 131%
2 - Functional fertilizer
- Urea Thousand tons 844,08 862,00 866,03 100,5% 103%
- Functional fertilizer Thousand tons 35,52 70,00 72,51 104% 204%
- NPK Thousand tons 83,67 150,00 138,61 92% 166%
- Self-trading fertilizer Thousand tons 123,48 211,00 183,24 87% 148%
II CONSOLIDATED FINANCIAL INDICATORS
1 Equity VND Billion 10.605,45 10.066,86 9.963,38 99% 94%
2 Total revenue VND Billion 16.240,76 13.458,48 13.172,38 98% 81%
3 Profit before tax VND Billion 4.596,31 1.029,29 1.254,81 122% 27%
4 Profit after tax VND Billion 4.321,08 915,99 1.110,14 121% 26%
5 Payments to the state budget VND Billion 679,34 246,31 426,81 173% 63%
III Indicators tài chính Công ty mẹ
1 Total revenue VND Billion 16.214,03 13.455,50 13.048,39 97% 80%
2 Profit before tax VND Billion 4.586,06 1.026,96 1.252,19 122% 27%
3 Profit after tax VND Billion 4.313,44 914,74 1.108,58 121% 26%
4 Profit before tax/Charter capital ratio % 87% 19% 24% 126% 28%
5 Payments to the state budget VND Billion 674,31 238,92 419,88 176% 62%
IV INVESTMENT IN BASIC CONSTRUCTION & EQUIPMENT PURCHASE
1 Total investment VND Billion 85,78 419,49 404,72 96% 472%
2 Investment funds VND Billion 85,78 419,49 404,72 96% 472%
- Equity VND Billion 31,59 417,69 403,73 97% 1.278%
- Other loans VND Billion 54,19 1,80 0,99 55% 2%

Note: (*) The planned targets in Year 2023 were implemented in accordance with Announcement No 934/PVCFC-IR dated June 13 Year 2023 of PVCFC. These targets are adjusted to replace business and production targets approved by Resolution No 2186/PVCFC-IR dated December 27 Year 2023.

REGARDING THE PERFORMANCE OF THE PARENT COMPANY

Urea production output reached

955.57

Thousand tons

104%

compared to 2022

NPK production output reached

151,11

Thousand tons

131%

compared to 2022

Urea consumption reached

866,03

Thousand tons

103%

compared to 2022

NPK consumption reached

138,61

Thousand tons

Total revenue

13.048,39

VND Billion

80%

compared to 2022

Profit before tax

1.252,19

compared to 2022

đạt 27%

compared to 2022

REGARDING PERFORMANCE OF SUBSIDIARY

PETROVIETNAM PACKAGING JOINT STOCK COMPANY (PPC)

PPC has strived to complete the indicators assigned by the parent company: achieving the plan and the same period in terms of packaging production output, timely supply, and quality assurance of packaging for PVCFC; revenue increased by 4% compared to the plan and 2% over the same period in 2022; profit before tax increased 26% compared to the plan and 18% compared to the same period in 2022.

By being proactive in seeking new markets, boosting self-employment and optimizing costs have helped PPC achieve impressive profit growth.

Additionally, PPC always conducts research on improving packaging quality, coordinating with PVCFC to test applications such as using RFID tracking labels, trial production of new fertilizer products in accordance with PVCFC’s development strategy.

Profit before tax

26%

REVENUE

4%

compared to the plan

FINANCIAL SITUATION

FINANCIAL SITUATION (CONSOLIDATED)

Unit: VND Billion

Financial indicators Year 2022 Year 2023 Comparison (%)
The total value of assets 14.167 15.238 8%
Net revenue 15.925 12.571 -21%
Profits from business activities 4.593 1.232 -73%
Other profits 3.166 22.482 610%
Profit before tax 4.596 1.255 -73%
Profit after tax 4.321 1.110 -74%
KEY FINANCIAL INDICATORS
No. Financial indicators Unit Year 2022 Year 2023 Note
1 Indicators of liquidity
Short-term payment ratio Time 4,04 2,99
Quick payout ratio Time 3,25 2,51
2 Capital structure indicators
Liabilities/Total Assets ratio % 25% 35%
Liabilities/Equity ratio % 34% 53%
3 Performance indicators
Inventory turnover Day 4,56 4,74
Net Revenue/Total Assets % 112,41% 82,49%
4 Profitability indicators
Profit after tax/Net revenue ratio % 27,13% 8,83%
Profit before tax/Total revenue ratio % 28,30% 9,53%
Return on Equity (ROE) % 47,79% 10,79%
Return on Assets (ROA) % 34,24% 7,55%