PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION

PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION (TỔNG CÔNG TY PHÂN BÓN VÀ HÓA CHẤT DẦU KHÍ – CÔNG TY CỔ PHẦN): State-Backed Giant Navigates Profit Pressure

PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION (TỔNG CÔNG TY PHÂN BÓN VÀ HÓA CHẤT DẦU KHÍ – CÔNG TY CỔ PHẦN), best known under its stock code DPM and trading name PVFCCo, is one of Vietnam’s largest players in the fertilizer and chemical manufacturing sector. With backing from Vietnam Oil and Gas Group (Petrovietnam) and listed on the Ho Chi Minh Stock Exchange (HOSE), PVFCCo operates on a scale few others in its field can match.

Registered under Business ID and Tax Code: 0303165480, and headquartered at PVFCCo Tower, 43 Mac Dinh Chi Street, District 1, Ho Chi Minh City, the company has operated for over 17 years. Despite impressive figures in assets and equity, PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION is showing signs of financial stagnation and declining momentum that investors and partners should closely evaluate.

Big Balance Sheet, But Flattening Sales and Declining Equity

In 2024, PVFCCo reported:

• Total assets of USD 680.02 million (up 24.37% YoY)

• Sales of USD 554.46 million (slightly down by 0.54%)

• Profit of USD 22.77 million (up 4.61%, but still a far cry from 2022's peak of USD 229.44 million)

• Owner’s equity of USD 459.3 million (down 3.16%)

These figures signal that while the company has bounced back from a sharp decline in 2023, profitability remains significantly below past levels. In fact, profit dropped over 90% between 2022 and 2023, indicating systemic issues with cost management, input pricing, or external market pressures in the petrochemical and fertilizer industry.

State Ownership and Institutional Investment

One of the company's strengths is its diversified and solid ownership structure:

• Vietnam Oil and Gas Group (Petrovietnam) holds a controlling 59.58% stake

• Dragon Capital and Edgbaston Asian Equity Trust hold 8.95% and 5.03% respectively

• Local agricultural corporations also appear on the shareholder list

This hybrid public-private structure provides PVFCCo with institutional credibility, access to capital, and government-aligned strategic orientation.

Operations and Workforce

PVFCCo employs 1,550 people and maintains major production and distribution facilities in Ho Chi Minh City and Ba Ria – Vung Tau Province. It is active in:

• Fertilizer and nitrogen compound manufacturing

• Agrochemical and chemical product distribution

• Logistics and warehousing

• Data processing, engineering, and even basic-level training

Risk Signals and Need for Transparency

The multi-year decline in equity and stagnating revenue suggest that PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION may be entering a maturity phase—requiring innovation or structural change to return to prior growth levels.

Before making investment, procurement, or partnership decisions, third-party verification is recommended. Use the tools offered by VANGUARD BUSINESS INFORMATION LLC to gain a full view:

🔍 Company Verification
📄 Private Financial Data & Full Audits
⚖️ Company Litigation Checks
📉 Credit Risk & Solvency Reports
🔬 Competitor Benchmarking

Conclusion

PETROVIETNAM FERTILIZER AND CHEMICALS CORPORATION (PVFCCo) remains a giant in the Vietnamese fertilizer and chemical market. While its operational footprint and capital base remain strong, declining equity and stagnating profitability raise red flags. For stakeholders in Vietnam’s fertilizer supply chain or investment ecosystem, it’s time to monitor PVFCCo’s next strategic moves closely—and verify its real-time performance with credible intelligence from VBI.