Ca Mau Petroleum Fertilizer Joint Stock Company (Ca Mau Fertilizer, code: DCM) grew impressively in the first 6 months of the year with consolidated net revenue in the second quarter of 2024 reaching VND 3,863 billion, up 17% over the same period in 2023. After deducting cost of goods sold, the company's gross profit was VND 610 billion, up 65% over the same period last year.

During the period, Ca Mau Fertilizer earned nearly VND 120 billion in financial revenue, down 18% compared to the second quarter of 2023. In contrast, selling expenses decreased slightly, while business management expenses increased sharply by 212% to VND 147 billion. As a result, Ca Mau Fertilizer reported a profit after tax of VND 569 billion, up sharply by 97% compared to the second quarter of 2023. This is the highest profit level in 6 quarters of the enterprise.

In the first 6 months of the year, Ca Mau Fertilizer recorded net revenue of VND 6,607 billion and after-tax profit of VND 919 billion, up 10% and 69% respectively over the same period in 2023. Thus, after 6 months, Ca Mau Fertilizer exceeded the 2024 profit plan by nearly 16%.

Similarly, PetroVietnam Fertilizer and Chemicals Corporation (Dam Phu My, code: DPM) also recorded positive results with consolidated net revenue in the second quarter of 2024 increasing slightly by 6% over the same period, reaching VND 3,948 billion. Excluding cost of goods sold, Dam Phu My recorded gross profit of VND 545 billion, a sharp increase of 40% compared to the second quarter of 2023.

Financial revenue this period decreased sharply by 72%, down to 52 billion VND, financial expenses also decreased by 59%, down to 6.8 billion VND. In addition, sales expenses and business management expenses also decreased by 4.8% and 7.7% respectively compared to the same period last year. As a result, Phu My Fertilizer reported a profit after tax of nearly 236 billion VND, an increase of 124% compared to the same period last year.

In the first 6 months of the year, Phu My Fertilizer recorded net revenue of VND7,255 billion and after-tax profit of VND503 billion, up 4% and 37% respectively over the same period last year. Thus, after the first half of the year, the company has completed 57% of the revenue target and 93% of the profit target.

At Duc Giang Chemical Group Corporation (Code: DGC), consolidated net revenue in the second quarter of 2024 reached VND 2,505 billion, up 4% over the same period last year. Gross profit reached VND 983 billion, profit margin at 39% - equivalent to the same period.

During the period, the company's financial revenue decreased by 9% to VND165 billion. Financial expenses also decreased sharply by 36% to VND16 billion. In contrast, sales expenses increased by 8% to VND117 billion, and business management expenses increased by 36% to VND52 billion. As a result, Duc Giang Chemicals' after-tax profit was VND871 billion, down slightly by 1% compared to the same period last year.

Accumulated in the first half of 2024, DGC's revenue was almost the same as in the first half of 2023, reaching VND 4,889 billion; profit after tax was VND 1,574 billion, down 7.5%.

In 2024, Duc Giang Chemicals aims for total consolidated revenue of VND 10,202 billion, an increase of nearly 5% compared to 2023; profit after tax is expected to decrease by 4.4% to VND 3,100 billion. Thus, after the first half of the year, the enterprise has achieved 48% and 51% of the annual revenue and profit plans, respectively.

In contrast to the "big guys" in the same industry, the audited financial statements for the first half of 2024 of Ha Bac Fertilizer and Chemicals Joint Stock Company (Ha Bac Fertilizer, code: DHB) recorded a loss of hundreds of billions in the first half of the year, although revenue was still close to thousands of billions.

Accordingly, Ha Bac Fertilizer achieved 1,967 billion VND in revenue in the first 6 months of the year, down nearly 6% compared to the same period last year. This period, Ha Bac Fertilizer's interest expense decreased significantly, to only 102 billion VND, while in the same period it was up to more than 329 billion VND. Other expenses such as sales and business management decreased by 12.5% ​​and 13.3% respectively.

As a result, Ha Bac Fertilizer still reported a net loss from business operations of more than VND292 billion, but a significant decrease compared to the loss of VND480 billion in the same period last year. After deducting expenses and taxes, Ha Bac Fertilizer reported a post-tax loss of VND99.2 billion, while in the same period last year the loss was up to VND480 billion. As of the end of the second quarter of 2024, Ha Bac Fertilizer had an accumulated loss of VND2,209 billion, a slight decrease of 4.7% compared to the same period last year.