Despite negative business results in the fourth quarter of 2022, the leading yellow phosphorus producer in Vietnam still ended the year conquering a new record with net revenue up 51% and gross profit up more than 110% YoY. 2021. This result was thanks to increased output, increased sales of products and selling prices, financial reports showed that sales of yellow phosphorus increased 112%, fertilizer products increased 22%, extracted phosphoric acid increased. 62% while COGS only increased by 20.5%. DGC is one of the companies with abundant cash with announced net cash of VND 8,500 billion at the end of 2022.
In 2022, the company produced 54,145 tons of yellow phosphorus. To increase capacity, DGC invested in 51% of Phosphorus Apatite Vietnam (PAT) with a yellow phosphorus production line with a capacity of 20,000 tons/year. The 2023 General Shareholders’ Meeting also approved a plan to spend VND 635 billion to own 100% of Phosphorus 6 JSC to increase capacity by 20% to create a chain of deep-processed products to help stabilize the export market and increase revenue. In Q1.2023, DGC also completed the acquisition of 51% stake in Tia Sang Battery Company (TSB) with the ambition of stepping into the production of lithium batteries for electric vehicles.
DGC continues to maintain its position as the leading enterprise in Vietnam in the production and trading of raw materials and chemical products for agricultural industries. In 2023, the company plans to spend 500 billion VND for Chlo-Alkali Nghi Son factory; 20 billion VND for TSB’s R&D activities; VND 50 billion for phase 1 of Dak Nong fertilizer factory…
According to forbes.vn
