Dear Shareholders, investors, customers, partners and all employees
The year 2020 ended with unprecedented difficulties in human history when the Covid-19 pandemic broke out and spread across the globe, including Vietnam. That has led to heavy impacts on all economic and social fields, etc. However, with a solid foundation and firm management system, PetroVietnam Ca Mau Fertilizer Joint Stock Company (PVCFC) has overcome all challenges, successfully completed business results and achieved proud successes.
2020 was also the year marking the 10th anniversary of establishment - an important milestone in PVCFC's development journey. At this time last year, Ca Mau Fertilizer announced that we were trying to develop and accelerate to make a strong breakthrough towards the goal of leading and establishing a new position in the fertilizer market in Vietnam. Now, we are happy to share with you that Ca Mau Fertilizer has successfully achieved that goal. In 2020, Ca Mau Fertilizer made a spectacular breakthrough and conquered unprecedented growth achievements.
Breakthrough business results
At the end of the fiscal year 2020, PVCFC set a record of revenue with VND 7,700 billion, reaching 111% of the plan. Pre-tax profit reached VND 716.5 billion, an increase of 40% compared to the plan in 2020 and an increase of 55% compared to 2019, cost reduction attained VND 243.95 billion, reaching 200.47% of the plan. These are all talking numbers showing the unremitting efforts of all the staff, the consensus, dedication and dedication to the prosperous Vietnamese agriculture.
Breakthrough production - output
In 2020, Ca Mau Fertilizer Plant maintained production at 110% of capacity and achieved a record of converted-to-urea output for the first time in its 9-year journey, PVCFC reached 934.77 thousand tons, reaching 104 % of the plan and finished nearly 51 days ahead of schedule. In particular, the export output in 2020 reached over 300 thousand tons, of which the Cambodian market increased by 42% compared to 2019 and PVCFC also expanded export to fastidious markets such as Thailand and Myanmar, India, Brazil, etc.
On October 20, 2020, PetroVietnam Ca Mau Fertilizer Joint Stock Company officially expanded its brand name from "Dam Ca Mau" to "Ca Mau Fertilizer". The brand story of “Ca Mau Fertilizer - Hat ngoc mua vang” is conveyed more widely and deeply about the mission to bring “thousands of Gold Fields” of value to Vietnam's agriculture, thanks to the range of quality Ca Mau Fertilizer products like colorful “pearls”. This shift is considered a breakthrough to take PVCFC to new visions and values to fulfill its mission of providing a comprehensive set of nutritional solutions for plants as well as meeting competitiveness and affirming its position in the domestic and foreign fertilizer market.
Besides outstanding production and business results, PVCFC also made a mark with many technological successes such as: Upgrading and using E-Office for remote but effective working; using ERP for enterprise resource optimization; drastically improved “2Nong” App to support farmers in weather news, crops, market prices; Completing the digitization of operational processes and building a common database for analysis and forecasting; In particular, promoting strategic cooperation with Samsung and Viettel to develop information technology applications in agricultural production.
The above successes and breakthroughs are the result of a 10-year journey with so many constant efforts of PVCFC’s generations. We are always grateful for your unanimity, enthusiasm and dedication to create a strong PVCFC brand as it is today. And those successes are always honored with the prestigious awards we have achieved: The National Brand Award for the 4th time in a row; National Quality Gold Award; The World’s Top-10 Most most productive plants award given by Haldor Topsoe; the Enterprises accompanying farmers award 2020 and many other proud awards.
10 years has been a memorable journey and the mission of "Nurturer" continues to be promoted and expressed by PVCFC through many meaningful activities: Supporting Covid-19 epidemic prevention, bringing Tet to the poor countryside, building bridges and houses, sponsoring books and relay-to-school scholarships; giving love, supporting difficult situations, etc., with a total contribution of more than VND 18 billion to society in the past year.
Breakthrough to leading
After 10 years of establishment and development, a period of time not too long but enough for PVCFC to affirm its position in the face of market fluctuations, have enough courage to overcome difficulties and have enough prestige to affirm the brand identity in the face of constant changes and transformations and especially be confident enough to take the lead on the journey forward. With your enthusiastic support, we believe that PVCFC will firmly pioneer the path of sustainable growth, constantly adding values to all stakeholders.
Wish you good health and success