PVCFC (DCM) Reports Record 2025 Revenue, Announces 20% Cash Dividend

Overview

Petrovietnam Ca Mau Fertilizer (PVCFC), listed as DCM, announced record 2025 financial results and a 20% cash dividend at its 2026 Annual General Meeting. The company reported consolidated revenue of VND 17,033 billion, a 100% increase from 2020, and net profit of VND 1,961 billion, up 37% year-on-year. This performance underscores its strategic shift from a pure fertilizer producer to an integrated agricultural solutions provider.

Key Facts

• Consolidated revenue for 2025 reached VND 17,033 billion, achieving 107% of the annual plan and marking a record high.
• Net profit after tax was VND 1,961 billion, a 37% increase compared to 2024.
• The company announced a 20% cash dividend for shareholders.
• Urea-equivalent output exceeded 966,730 tons, a historical record, with export volume at 458,000 tons valued at USD 192.7 million across 22 countries.
• For 2026, PVCFC set targets of VND 17,615 billion in consolidated revenue and VND 1,319 billion in pre-tax profit.
• The company aims to surpass VND 30,000 billion in revenue by 2030.
• Digital initiatives included launching a VR360 factory tour website and upgrading the virtual assistant “Anh hai Cà Mau” with OpenAI technology.

What Happened

According to disclosures at the 2026 Annual General Meeting held on April 22 in Ho Chi Minh City, Petrovietnam Ca Mau Fertilizer (PVCFC) delivered strong 2025 results despite market challenges. Chairman Trần Ngọc Nguyên highlighted that the 2020-2025 period marked robust growth, with revenue doubling since 2020 and an average dividend payout ratio of 20% over five years. In November 2025, the company transformed into a parent company model, expanding its business scope beyond fertilizers to include crop nutrition solutions, post-harvest technology, and agricultural export processing.

General Director Văn Tiến Thanh detailed that 2025 performance set multiple records, driven by favorable fertilizer prices and export demand early in the year, though operations faced headwinds from natural disasters and reduced fertilizer usage from Q3 onward. The company emphasized its digital transformation, including e-commerce features on the 2Nông app, online sales channels on Shopee, and a new international website. For 2026, management acknowledged complex global conditions but sees opportunities in green transition and sustainable agriculture trends.

Market Context

DCM trades on the Ho Chi Minh Stock Exchange (HOSE). The stock closed at VND 47,000 on April 10, 2026, up 3.44% on volume of 6.196 million shares. This positive price movement aligns with the broader market’s reaction to strong corporate earnings in the chemicals and agriculture sectors, where companies like PVCFC benefit from export growth and strategic diversification.

Strategic Significance

The 2025 results validate PVCFC’s pivot from a commodity fertilizer business to a higher-margin agricultural solutions platform. By targeting integrated services—crop nutrition, post-harvest technology, and processed exports—the company aims to reduce cyclical reliance on urea prices. The 2030 revenue target of over VND 30,000 billion implies a compound annual growth rate, suggesting management’s confidence in capturing value from Vietnam’s push toward sustainable farming and digital agriculture.

What to Watch

• Achievement of 2026 targets, particularly the VND 1,319 billion pre-tax profit goal amid volatile input costs.
• Progress in export market diversification beyond the current 22 countries.
• Revenue contribution from new business segments like crop nutrition solutions and agricultural processing.
• Updates on digital initiatives, such as user adoption of the 2Nông app and virtual assistant.
• Dividend payout timeline and any changes to capital allocation strategy.