Vietnam Fertilizer Comprehensive Report 2015
Fertilizer sector plays an important role in the economic development of Vietnam, especially in 2014, net revenue of fertilizer enterprises reached the average percentage of more than 17%. This was thanks to new achievements in transforming production technologies of chemical fertilizers into the most advanced forms. However, owing to pricing decrease of fertilizers worldwide as well the upward movement of input material cost, revenue growth of fertilizer sector is predicted to slow down but still remain positive. This report performed by VIRAC’s team stays focus on fertilizer industry, with the desire of providing readers a deeper and general look insight Vietnam fertilizer manufacturing.
To be more detail, the study covers all the criteria related to fertilizer market, including macroeconomic situation, legal barriers and industry performance of both Vietnam and global market. By giving specific and reliable figures about global fertilizer manufacture and putting Vietnam’s situation on comparative scale with China, the world leader in fertilizer production and other developed countries, VIRAC’s investigators help readers understand the possible challenges and future plans as well. Accordingly, the most striking risk was the oversupply in the period 2014 – 2015, in which nutrient supply by component is calculated to rise almost 4% meanwhile demand declined just over 2%. Even though the fertilizer supply was rising, it still can’t meet the equivalent amount of domestic demand. This is caused by numerous contributing factors, consisting of government’s policies, price of other inputs and agriculture product price.
In addition, the report reveals a list of top 10 enterprises which have primary contribution to total net revenue and turnover export of Vietnam. Since reaching the top spot at ranking of producing and distributing Urea, Phu My hold the first position (more than 1/10 of the total revenue share) in making profit hitherto.
Key points covered in this report:
To be more detail, the study covers all the criteria related to fertilizer market, including macroeconomic situation, legal barriers and industry performance of both Vietnam and global market. By giving specific and reliable figures about global fertilizer manufacture and putting Vietnam’s situation on comparative scale with China, the world leader in fertilizer production and other developed countries, VIRAC’s investigators help readers understand the possible challenges and future plans as well. Accordingly, the most striking risk was the oversupply in the period 2014 – 2015, in which nutrient supply by component is calculated to rise almost 4% meanwhile demand declined just over 2%. Even though the fertilizer supply was rising, it still can’t meet the equivalent amount of domestic demand. This is caused by numerous contributing factors, consisting of government’s policies, price of other inputs and agriculture product price.
In addition, the report reveals a list of top 10 enterprises which have primary contribution to total net revenue and turnover export of Vietnam. Since reaching the top spot at ranking of producing and distributing Urea, Phu My hold the first position (more than 1/10 of the total revenue share) in making profit hitherto.
Key points covered in this report:
- International business environment and Vietnam general situation.
- Industry performance, including both Fertilizer production and consumption of typical nations.
- Detailed data and figures of Vietnam Fertilizer Industry, including:
- Structure of major fertilizers
- Revenue growth rate and market share by revenue
- Paddy field areas, structure of rice area by crop
- Coal consumption by industry and coal revenue by area
- Coal supply and demand forecast
- Fertilizer supply and demand/ import and export
- Fertilizer inventories
- Fertilizer price movement
- Vietnam Fertilizer industry outlook, risks and forecast in the period 2015 – 2020.
- Root causes contributing to the oversupply and fertilizer’s pricing decline.
- Fertilizer operating analysis of top 10 enterprises in Vietnam.
List of abbreviations
Executive Summary
1. BUSINESS ENVIRONMENT
1.1 Macroeconomics
Figure 1. GDP Growth
Figure 2. Average Price Index
Figure 3. Import – Export Turnover
Figure 4. Export Structure by type of enterprises 2014
Figure 5. Fertilizer Import by country
Figure 6. Foreign Exchange Reserve
Figure 7. Exchange Rate
1.2 Legal Barriers
2. INDUSTRY PERFORMANCE
2.1 Global Fertilizer Market
2.1.1 Supply – Demand
Figure 8. Fertilizer Supply and Demand by nutrients
2.1.2 Import – Export
Figure 9. Export
Figure 10. Import
2.1.3 Price Movement
Figure 11. Price movement of major fertilizers in the world
2.1.4 Fertilizer Production and Consumption in typical countries
2.2 Vietnam Fertilizer Situation
2.2.1 Industry Background
Figure 12. Structure of major fertilizers, 2014
2.2.2 Definition and Classification
Table 1. Definition and Classification of Vietnam fertilizers.
2.2.3 Scale and Market Share
Figure 13. Revenue growth rate by year
Figure 14. Market share by revenue
Figure 15. Paddy Field Area
Figure 16. Structure of Rice Area by Crop
Figure 17. Rice Production by Crop
2.2.4 Major activities
2.2.5 Inputs
Figure 18. Coal reserve by area
Figure 19. Coal Consumption by industry
Figure 20. Coal supply and demand forecast, 2015-2030
Figure 21. Ore reserve exploration by type, 2014
Figure 22. Ore demand forecast for fertilizer production, 2015-2030
Figure 23. Natural Gas Consumption by Sectors
Table 2. NPK production technology
2.2.6 Production Technology
2.2.7 Supply – Demand
Figure 24. Fertilizer Supply and Demand, 2010 – 2014
Figure 25. Fertilizer Demand in Vietnam
Figure 26. Fertilizer Demand by type, 2014
Table 3. Production Capacity of top Plants
Table 4. Capcity of some Plants
Figure 27. Fertilizer Production in the first 9 months of 2015
2.2.8 Inventories
Figure 28. Fertilizer Inventories
2.2.9 Import – Export
Figure 29. Fertilizer Import
Figure 30. Import structure by country in the first 9 month 2015
Figure 31. Top 10 fertilizer largest importers, 2014
Figure 32. Fertilizer import structure by category of Vinacam JSC
Figure 33. Fertilizer import structure by category of Agriculture Products and Materials JSC
Figure 34. Fertilizer import structure by category of Long Hai Group
Table 5. Characteristics of companies
Figure 35. Fertilizer import by type in the first 9 months of 2015
Figure 36. Fertilizer import by country in the first 9 months of 2015
Figure 37. Fertilizer Export
Figure 38. Fertilizer Export by type, 2014
Figure 39. Vietnam fertilizer export by country 2014
Figure 40. Fertilizer Export by enterprise
Figure 41. Vietnam fertilizer export by country in the first 8 months of 2015
Figure 42. Vietnam Export quantity by country in the first 8 months of 2015
2.2.10 Price Movement
Figure 43. Fertilizer Price
2.2.11 Operation and Business Method
Table 6, 7, 8. financial indicators of companies
Figure 43. Gross Profit Margin over Net Revenue by distributing enterprise
Figure 44. Gross Profit Margin over Net Revenue by manufacturing enterprise
2.2.12 Distribution Method
2.3 Industry Risks
Figure 45. Coal and Rude Oil Prices
Figure 46. Crop Structure, 2014
Figure 47. Area of paddy fields over years
Figure 48. Fertilizer demand by plant
Figure 49. Agricultural product export
Table 9. Force Analysis
2.4 Industry Outlook
2.4.1 Global Forecast
2.4.2 Domestic Forecast
2.4.3 Planning
Table 10. Fertilizer production system plan
3. ENTERPRISE ANALYSIS
3.1 Top 10 Enterprises
Table 11. Top 10 enterprises with largest revenues in 2014 (Group of listed enterprises)
3.2 Business Performance Indicator Group
Figure 50. Net Revenues
Figure 51. Gross Profit Margin
Figure 52. Financial Cost
Figure 53. Sales Cost
Figure 54. Enterprise Management Cost
Figure 55. Profits after tax
3.3 Financial Indicator Group
Figure 56. Assets
Figure 57. Receivables
Figure 58. Inventories
Figure 59. Debt structure
Table 12. EBITDA, ROA, ROE
Table 13. Express payment and Current payment
3.4 Cash Flow Indicator Group
Table 14. Net Cash Flow from Investment
Table 15. Net Cash Flow from Operations
Table 16. Net Cash Flow from Financing
4. APPENDIX OF FINANCIAL STATEMENTS
Financial statement
Phu My Fertilizer
Table 17. Balance sheets
Table 18. Income statement
Table 19. Cash flow statement
Binh Dien Fertilizer
Table 20. Balance sheets
Table 21. Income statement
Table 22. Cash flow statement
Ca Mau Fertilizer
Table 23. Balance sheets
Table 24. Income statement
Table 25. Cash flow statement
Lam Thao Chemicals
Table 26. Balance sheets
Table 27. Income statement
Table 28. Cash flow statement
PVFCCo South East
Table 29. Balance sheets
Table 30. Income statement
Table 31. Cash flow statement
Quang Binh Import-Export JSC,.
Table 32. Balance sheets
Table 33. Income statement
Table 34. Cash flow statement
PVFCCo South West
Table 35. Balance sheets
Table 36. Income statement
Table 37. Cash flow statement
PVFCCo Central
Table 38. Balance sheets
Table 39. Income statement
Table 40. Cash flow statement
The Southern Fertilizer JSC.
Table 41. Balance sheets
Table 42. Income statement
Table 43. Cash flow statement
PVFCCo North
Table 44. Balance sheets
Table 45. Income statement
Table 46. Cash flow statement
Executive Summary
1. BUSINESS ENVIRONMENT
1.1 Macroeconomics
Figure 1. GDP Growth
Figure 2. Average Price Index
Figure 3. Import – Export Turnover
Figure 4. Export Structure by type of enterprises 2014
Figure 5. Fertilizer Import by country
Figure 6. Foreign Exchange Reserve
Figure 7. Exchange Rate
1.2 Legal Barriers
2. INDUSTRY PERFORMANCE
2.1 Global Fertilizer Market
2.1.1 Supply – Demand
Figure 8. Fertilizer Supply and Demand by nutrients
2.1.2 Import – Export
Figure 9. Export
Figure 10. Import
2.1.3 Price Movement
Figure 11. Price movement of major fertilizers in the world
2.1.4 Fertilizer Production and Consumption in typical countries
2.2 Vietnam Fertilizer Situation
2.2.1 Industry Background
Figure 12. Structure of major fertilizers, 2014
2.2.2 Definition and Classification
Table 1. Definition and Classification of Vietnam fertilizers.
2.2.3 Scale and Market Share
Figure 13. Revenue growth rate by year
Figure 14. Market share by revenue
Figure 15. Paddy Field Area
Figure 16. Structure of Rice Area by Crop
Figure 17. Rice Production by Crop
2.2.4 Major activities
2.2.5 Inputs
Figure 18. Coal reserve by area
Figure 19. Coal Consumption by industry
Figure 20. Coal supply and demand forecast, 2015-2030
Figure 21. Ore reserve exploration by type, 2014
Figure 22. Ore demand forecast for fertilizer production, 2015-2030
Figure 23. Natural Gas Consumption by Sectors
Table 2. NPK production technology
2.2.6 Production Technology
2.2.7 Supply – Demand
Figure 24. Fertilizer Supply and Demand, 2010 – 2014
Figure 25. Fertilizer Demand in Vietnam
Figure 26. Fertilizer Demand by type, 2014
Table 3. Production Capacity of top Plants
Table 4. Capcity of some Plants
Figure 27. Fertilizer Production in the first 9 months of 2015
2.2.8 Inventories
Figure 28. Fertilizer Inventories
2.2.9 Import – Export
Figure 29. Fertilizer Import
Figure 30. Import structure by country in the first 9 month 2015
Figure 31. Top 10 fertilizer largest importers, 2014
Figure 32. Fertilizer import structure by category of Vinacam JSC
Figure 33. Fertilizer import structure by category of Agriculture Products and Materials JSC
Figure 34. Fertilizer import structure by category of Long Hai Group
Table 5. Characteristics of companies
Figure 35. Fertilizer import by type in the first 9 months of 2015
Figure 36. Fertilizer import by country in the first 9 months of 2015
Figure 37. Fertilizer Export
Figure 38. Fertilizer Export by type, 2014
Figure 39. Vietnam fertilizer export by country 2014
Figure 40. Fertilizer Export by enterprise
Figure 41. Vietnam fertilizer export by country in the first 8 months of 2015
Figure 42. Vietnam Export quantity by country in the first 8 months of 2015
2.2.10 Price Movement
Figure 43. Fertilizer Price
2.2.11 Operation and Business Method
Table 6, 7, 8. financial indicators of companies
Figure 43. Gross Profit Margin over Net Revenue by distributing enterprise
Figure 44. Gross Profit Margin over Net Revenue by manufacturing enterprise
2.2.12 Distribution Method
2.3 Industry Risks
Figure 45. Coal and Rude Oil Prices
Figure 46. Crop Structure, 2014
Figure 47. Area of paddy fields over years
Figure 48. Fertilizer demand by plant
Figure 49. Agricultural product export
Table 9. Force Analysis
2.4 Industry Outlook
2.4.1 Global Forecast
2.4.2 Domestic Forecast
2.4.3 Planning
Table 10. Fertilizer production system plan
3. ENTERPRISE ANALYSIS
3.1 Top 10 Enterprises
Table 11. Top 10 enterprises with largest revenues in 2014 (Group of listed enterprises)
3.2 Business Performance Indicator Group
Figure 50. Net Revenues
Figure 51. Gross Profit Margin
Figure 52. Financial Cost
Figure 53. Sales Cost
Figure 54. Enterprise Management Cost
Figure 55. Profits after tax
3.3 Financial Indicator Group
Figure 56. Assets
Figure 57. Receivables
Figure 58. Inventories
Figure 59. Debt structure
Table 12. EBITDA, ROA, ROE
Table 13. Express payment and Current payment
3.4 Cash Flow Indicator Group
Table 14. Net Cash Flow from Investment
Table 15. Net Cash Flow from Operations
Table 16. Net Cash Flow from Financing
4. APPENDIX OF FINANCIAL STATEMENTS
Financial statement
Phu My Fertilizer
Table 17. Balance sheets
Table 18. Income statement
Table 19. Cash flow statement
Binh Dien Fertilizer
Table 20. Balance sheets
Table 21. Income statement
Table 22. Cash flow statement
Ca Mau Fertilizer
Table 23. Balance sheets
Table 24. Income statement
Table 25. Cash flow statement
Lam Thao Chemicals
Table 26. Balance sheets
Table 27. Income statement
Table 28. Cash flow statement
PVFCCo South East
Table 29. Balance sheets
Table 30. Income statement
Table 31. Cash flow statement
Quang Binh Import-Export JSC,.
Table 32. Balance sheets
Table 33. Income statement
Table 34. Cash flow statement
PVFCCo South West
Table 35. Balance sheets
Table 36. Income statement
Table 37. Cash flow statement
PVFCCo Central
Table 38. Balance sheets
Table 39. Income statement
Table 40. Cash flow statement
The Southern Fertilizer JSC.
Table 41. Balance sheets
Table 42. Income statement
Table 43. Cash flow statement
PVFCCo North
Table 44. Balance sheets
Table 45. Income statement
Table 46. Cash flow statement
