Viet Dragon Securities - DGC – Good Growth in Yellow Phosphorus, Favorable Fertilizer Business

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Viet Dragon Securities

Duong Tran

DGC – Good Growth in Yellow Phosphorus, Favorable Fertilizer Business

• In Q1 2025, DGC recorded revenue of VND 2,810 billion (+18% YoY, +16% QoQ) with consumption volumes of yellow phosphorus (P4), 85% H3PO4 (TPA), fertilizers, and animal feed additives reaching 14,301 tons (+28% YoY, +25% QoQ), 8,817 tons (-47% YoY, -25% QoQ), 81,717 tons (+11% YoY, +12% QoQ), and 18,918 tons (-14% YoY, -13% QoQ) respectively. The growth in yellow phosphorus was driven by stable demand from export markets, while fertilizer growth was mainly due to a supply shortage from China.
• DGC reported company’s net profit after-tax (NPAT) of VND 65 billion in Q1 2025 (+253% QoQ), recovering from the less favorable business results in Q4 2024.
• At the 2025 Annual General Meeting of Shareholders (AGM), the company set a relatively cautious business plan, with revenue and pre-tax profit at VND 10,385 billion (+5% YoY) and VND 3,000 billion (+0.4% YoY), respectively. In terms of investment, the group officially commenced construction of the Nghi Son Chemical Complex project Phase 1 in February 2025 and expects it to be operational in Q2 2026.

13/06/2025 6 EN

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Viet Dragon Securities

Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.

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Analysts

Duong Tran

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DGC – Good Growth in Yellow Phosphorus, Favorable Fertilizer Business

RECOVERS TO THE 1,520 POINT AREA

U.S. tariffs rise, but inflation fails to respond as expected

VCB - Moderate but Solid Growth

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