With an incredible brand and capability, Petrovietnam Camau Fertilizer Joint Stock Company ((PVCFC, HOSE: DCM) was lauded among the “Top 50 best listed companies of 2023” by Forbes Vietnam.
PVCFC was lauded among the “Top 50 best listed companies of 2023” by Forbes Vietnam
The Vietnamese economy faced both opportunities and challenges in the first half of 2023. On the bright side, Vietnam managed to control inflation and stabilize the exchange rate, despite the turbulence in the global market. However, on the dark side, Vietnam's GDP growth rate slowed down due to the decline in exports, production, and domestic sales.
This was neither the first nor the last time Vietnamese businesses, including PVCFC, have faced challenges when both the domestic and foreign markets have fallen in hard times. The motto of “Constantly moving forward - to change and grow” has helped the company to adapt and be flexible with the market fluctuations, to adopt recent innovations and keep up with business trends.
The executives at PVCFC have communicated the vital strategic points to all the relevant units, so they can work together towards a common goal. PVCFC has also adopted new technologies and innovations to keep up with the market trends and customer demands.
Mr. Nguyen Duc Hanh - Board Member and the Chairman of the PVCFC Union is represented to receive this prestigious award
PVCFC is always trying to improve and pushing forwards its roadmap of personnel planning, training and enhancing its teams of experts through internal and external courses. Hundreds of inventions and technical improvements from in-house engineers have helped the company reduce its energy consumption and operational costs.
PVCFC has constantly balanced and adjusted its sales policies to make them more flexible in 2023, effectively implemented its promotion programs for its Camau Fertilizer brand, such as “Golden season win big”, flash sales, sample fertilizers, and freebies. Moreover, the company has actively sought attractive foreign markets to boost its outputs.
In the first half of 2023, urea consumption reached 460 thousand tonnes, exceeding the expected number. This was mainly due to the high export output to countries such as Cambodia, Korea, India, Chile, and others, which amounted to 160 thousand tonnes. However, the average selling price of urea decreased by 14% in comparison to the PVCFC’s plan, while gas prices increased by 8.8%. As a result, PVCFC’s business and income targets for the first half of 2023 were lower than those of the plan and of the same period in the previous year.
PVCFC had passed many of Forbes’ evaluations. In the preliminary round, PVCFC met the condition of: having profits in 2022, turnover and capitalization of a minimum 500 billion dong. In the following round, PVCFC was evaluated based on the following five criteria: compound turnover growth rate, profit, ROE, ROC, and EPS rates. Subsequently, Forbes Vietnam conducted a qualitative research to assess the sustainability of PVCFC’s growth.
For the third time, PVCFC was lauded among the “Top 50 best listed companies of 2023” by Forbes Vietnam for its record turnover and profit in 2022 of 16,240 billion dong and 4,596 billion dong, respectively, with the corresponding increases of 62% and 135% in comparison to 2021 due to the high selling price. On August 17, 2023, Forbes Vietnam held its Top 50 Best Listed Companies Award Ceremony in Ho Chi Minh City. Among the top companies that received this prestigious award was PVCFC, represented by Mr. Nguyen Duc Hanh - Board Member and the Chairman of the PVCFC Union.
For the third time, PVCFC was lauded among the “Top 50 best listed companies of 2023” by Forbes Vietnam
PVCFC was able to achieve a series of new achievements in 2023 by focusing on “steady and prosperous growth”. The company’s management, with rich practical experience, deep understanding of the situation, and clear direction with 5 focal points, led the company to success. The position in the “Top 50 best listed companies” for three years in a row is the proof of commitment of Petrovietnam Camau Fertilizer Joint Stock Company to its shareholders, investors and fellow farmers for mutual growth.
Phan Bon Ca Mau